The expected schedule of the Zenith Pure Oil share split
Zenith Pure Oil Plc. hereby notifies the market of the following:
The Zenith Pure Oil Annual General Meeting (AGM) held on 13 April 2017 approved the split of the par value of “A” series ordinary shares from HUF 1,000 to HUF 125, so as to divide one current share into eight shares. The AGM resolution is effective as of 1 September 2017. According to the resolution, the General Meeting authorized the Board of Directors to carry out the tasks in connection with the implementation of the above transformation of “A” series shares, particularly the tasks defined in the Civil Code, the Company Registration Act and the Capital Market Act.
In line with the above, the modification request of the Articles of Association will be submitted to the Court of Registry as the resolution comes into effect. Following the registration by the Court of Registry, Zenith Pure Oil will inform the market in a separate announcement regarding the milestones of the share split.
The share split process is expected to be completed by the end of September.