BPH shareholders agree to zl.3 billion bond issue

At a general meeting yesterday, shareholders in Bank Przemyslowo Handlowy (BPH) voted in favor of a bond issue with a total value of zl.3 billion. Although the funds have been earmarked for financing the bank's operations, company representatives declined to provide specific details of how the money would be used. The shareholders also adopted a decision on setting aside zl.69 million for the payment of dividends from the bank's total profit last year of zl.230.7 million. And in another vote, the meeting approved a motion by strategic investor, HypoVereins-bank of Germany, on removing six members of the supervisory board and nominating five new members to replace them. (Parkiet, p.7) M.T.