A Prague district court is to rule today as to whether Ceske radiokomunikace should suspend the payment of dividends given a minority shareholder’s challenge of the validity of the company’s April AGM (a payment of the CZK 395 per-share gross dividend is scheduled to start today, hence the need for a ruling today). A decision is expected today.
Separately, Ceske radiokomunikace’s AGM on Friday agreed to provide a CZK 1.2 bil. shareholder loan to RadioMobil (where CR has a 39% stake). The shareholder loan takes the form of subordinated debt and is convertible into stock. We assume that the parent company and CMobil (the other shareholder in RadioMobil, who will provide another loan on the same terms) will act so that the ownership structure of RadioMobil remains unchanged (39/61). This should not have an impact on the stock.
(Ondřej Daťka)