The company has not completed the annual report on time. Until you have it, you cannot trade your shares on the stock exchange.

Magyar Nemzeti Bank suspended trading of Kartonpack shares on the stock exchange because it failed to publish its annual report for fiscal year 2019 in time.

The Debrecen-based company came under state supervision in April, citing the emergency situation, after which the company’s leaders were quickly replaced by the seconded government commissioner.

The opportunity provided by the Authorization Law materialized: the former main owner, Csaba Kerék, was finally sentenced to prison and confiscation of property a year ago as the second accused in the old Kulcsár case. Csaba Kerék’s company, Britton Capital & Consulting, owned almost 62 percent of Kartonpack’s shares. But the company’s bylaws linked the most important decisions with a three-quarter majority.

On April 30, Kartonpack provided extraordinary information that it had chosen a new auditor that day, so the annual report will be approved once the audit work has been completed. As a result, the central bank suspended trading of Kartonpack shares on the Budapest Stock Exchange until the publication of the annual report.



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Support our work to bring you up-to-date information even in difficult circumstances.


Yvette Szabó
company

Just an hour after the government decree that brought Kartonpack Dobozipari Nyrt into effect. Under state supervision, government commissioner representative Edit Juhász took over the company’s bank account in the company of two police officers, HVG learned.