With the authorisation of the shareholders, the transaction to list the Hungarian IT holding company Delta Group on the Budapest Stock Exchange can proceed, as the Extraordinary General Meeting of Est Media Plc. voted in favour of the acquisition of Delta Systems Kft. announced in the summer with a majority of almost 90 percent. According to the resolution of the general meeting, the name of the listed company will change to Delta Technologies Plc. upon closing of the transaction, which is due on 20 December, referring to the company's own strategy of innovative product and service development, acquisitions and international expansion.
The Extraordinary General Meeting of Est Media Plc, listed on the Budapest Stock Exchange, was successfully held. At the event, held in the Bank Center, also home to the stock exchange, the shareholders present approved the transaction announced on 30 July by a majority of 89.89% percent, without any dissenting votes, which will see the Delta Group, with annual revenues of more than HUF 30 billion and a new level of revenue, go public, and Est Media and its shareholders receive a new vision for the future. Delta Systems Kft., a HUF 16 billion turnover company providing system integration services and with a number of innovative areas (smart city solutions, transport informatics, cloud services), will become a listed company, and the holding company of the Hungarian IT group will become the main shareholder of Est Media. The closing conditions of the share purchase agreement must be fulfilled by 20 December.
The General Meeting also voted in favour of the Board of Directors' proposal to change the name of the listed company to Delta Technologies Plc. upon closing of the transaction. The new name will support the company's domestic and international expansion based on proprietary technology and an innovative portfolio of products and services, while retaining the Delta brand name as a well-known and respected brand name in the market. The owner-managers of Delta Group, Zsolt Bártfai, Zoltán Csontos, István Hartmann and Levente Pércsi will also join the Board of Directors upon closing of the transaction, as resolved by the General Meeting, at which time the listed company will move its headquarters to the Delta Group's offices at 1134 Budapest, Róbert Károly krt. 70-74.
The General Meeting also elected János Szlankó and László Hetényi as members of the Board of Directors with immediate effect; the two professionals will continue to contribute their unique market experience to the company's development. János Szlankó is the founder of KFKI Rendszerintegrációs Zrt., the largest Hungarian systems integrator in the 1990s and 2000s, the predecessor of T-Systems Hungary Zrt. and one of the founders of PanTel, a telecommunications service provider. Between 1979 and 1988, László Hetényi was a professional officer at the central office of the Ministry of the Interior, and as head of various media agencies he was responsible for the publication of Hungarian companies and institutions, such as banks and Magyar Turizmus Rt. in international newspapers (Financial Times, The Economist, The Wall Street Journal, etc.).
