HUNGARIAN BROADCASTING CORP 3
3 · HUNGARIAN BROADCASTING CORP · Filed Jun 24, 1999
Insider Transaction Report
Form 3
No transactions or holdings reported in this filing.
Footnotes (1)
- [1]Pursuant to the Shareholders' Agreement Concerning Hungarian Telephone and Cable Corp between Tele Danmark A/S ("TD") and The Investment Fund for Central and Eastern Europe ("IFCE")dated May 11, 1999, IFCE has the right to sell to TD and TD has the obligation to purchase all of the shares of Common Stock of the Issuer (1) owned by IFCE from May 11, 1999 to June 25, 1999 and from May 15, 2002 to June 15, 2004 or (2) in the event the Issuer starts activities outside the former Warsaw Pact countries in Central and Eastern Europe. The purchase price will be calculated to correspond to a return on IFCE's purchase price of 10% per year, including compounded interest in the case the shares are sold pursuant to (1) above or 12% per year, including compounded interest in the case the shares are sold pursuant to (2) above. In addition, from May 15, 2002 to June 15, 2004, IFCE has the obligation to sell to TD and TD has the right to purchase all of the shares of Common Stock of the Issuer owned by IFCE. The purchase price will be calculated to correspond to a return on IFCE's purchase price of 12% per year, including compounded interest. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Danish Investment Fund for Central and Eastern Europe /s/Torben Huss By: /s/Frank N. Larsen June 18, 1999 --------------------------- ----------------- Name: Torben Huss Date Title: Department Director Name: Frank N. Larsen Title: Deputy Managing Director Page 2 SEC 1473 (9-96) -2-