The shareholders have approved the proposal of the Board of Directors to convert the Appeninn share into a dividend-bearing security.

Shareholders at Appeninn's general meeting voted without dissent or even abstention to initiate the company's registration as a regulated real estate investment holding company (REIT) and subsequently as a regulated real estate investment trust (REIT), the BSE Premium category company said on Wednesday.

Since the publication of the invitation to the General Meeting of Shareholders on 10 November, the company's share price has risen from 257 forints to 425 forints. increased.

As you know, companies operating as SZITs benefit from a number of tax advantages, such as exemption from corporate tax. Tax and local business tax. In addition, they pay a reduced 2 per cent reversionary property transfer tax on the acquisition of ownership of immovable property, rights in rem and shares in a company with domestic immovable property. And in the case of a transaction between related parties, the transaction is exempt from duty.

But the point is for dividend payments This is because the management of the SZIT, or the board of directors in the case of a public limited company, must propose the payment of at least 90% of the profits as an expected dividend after the annual accounts have been approved. Of course, the proposal does not have to be voted on and can be rejected, but this is clearly not the scenario that investors who will be buying shares on Friday are expecting.