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FONDUL PROPRIETATEA - FP

NAV as of date 31 January 2020

Release Date: 2/14/2020 6:00:02 PM

IRIS Code: ACADB

Fund Administrator:

Franklin Templeton International Services S.a r.l.

Administrator Code:

PJM07.1AFIASMDLUX0037

Fund:

Fondul Proprietatea SA

Fund Code:

PJR09SIIR/400006

Reporting date:

31.01.2020

Fondul Proprietatea SA 's Assets and Liabilities based on NAV calculation according with the CNVM Regulation No. 4 / 2010, as subsequently amended

Lei

1. Non-current Assets

8,375,829,787.49

1.1. Intangible assets

146,702.25

1.2. Tangible assets

0.00

1.3. Financial assets

8,375,683,085.24

1.3.1 Listed shares**

11,493,896.77

1.3.2 Unlisted shares

8,364,189,188.47

1.3.3 Government securities

0.00

1.3.4 Certificates of deposits

0.00

1.3.5 Bank deposits

0.00

1.3.6 Municipal bonds

0.00

1.3.7 Corporate bonds

0.00

1.3.8 Newly issued securities

0.00

1.3.9 Participation titles of UCITS and/or of OCIU

0.00

1.3.10 Other financial assets

0.00

2. Current assets

3,392,316,775.89

2.1 Inventory

0.00

2.2 Receivables out of which:

378,554.00

- commercial papers

0.00

2.3 Cash

30,975,216.26

2.4 Short term financial investments

2,887,116,300.31

2.4.1 Listed shares**

2,887,116,300.31

2.4.2 Unlisted shares

0.00

2.4.3 Municipal bonds

0.00

2.4.4 Corporate bonds

0.00

2.4.5 Participation titles of UCITS and/or of OCIU

0.00

2.5 Newly issued securities

0.00

2.6 Government securities

137,734,277.06

2.7 Bank deposits

252,603,028.26

2.8 Certificates of deposits

0.00

2.9 Other current assets

83,509,400.00

3. Derivatives

0.00

4. Prepaid expenses

282,261.42

5. Total assets

11,768,428,824.80

6. Total liabilities

51,222,621.98

6.1 Borrowings from bond issues

0.00

6.2 Amounts due to credit institutions

0.00

6.3 Advance payments to customer accounts

0.00

6.4. Payables

18,826,400.18

6.5 Commercial papers due

0.00

6.6 Amounts due to group companies

0.00

6.7 Amounts due to related parties

0.00

6.8 Other debts

32,396,221.80

7. Provisions

856,247.22

8. Deferred income out of which:

0.00

8.1 Subsidies for investments

0.00

8.2 Deferred income

0.00

9. Shareholders’ equity out of which:

11,716,349,955.60

9.1 Share capital

3,959,264,762.44

9.2 Share capital premiums

0.00

9.3 Revaluation differences

-6,951.73

9.4 Reserves

90,536,633.82

9.5 Retained earnings

7,821,650,591.59

9.6 Period result

-155,095,080.52

9.7 Profit appropriation

0.00

10. Total liabilities and Shareholders’ equity

11,768,428,824.80

11. Net Asset Value

11,716,349,955.60

12. No of shares issued*

6,846,345,904

13. Net asset value per share

1.7113

14. Number of portfolio companies out of which:

33

14.1 Companies admitted to trading on a regulated market

3

14.1 Companies admitted to trading on an alternative regulated market***

4

14.3 Companies not admitted to trading

26

Legend:

* = Represents the number of shares related to the paid-up subscribed share capital (according to provisions of Law 247/2005, Title VII, Art. 92, alin. 5 "Subscribed unpaid shares are not taken into account for the computation of net asset value per share for Fondul Proprietatea") excluding (a) the Fund’s own shares bought back (Treasury shares), according to provisions of CNVM Regulation no. 4/2010, as subsequently amended, and (b) the equivalent number of shares corresponding to the GDRs bought back

** = Include also the value of holdings admitted to trading on AeRo market (alternative regulated market)

*** = Include the number of companies admitted to trading on AeRo market (alternative trading system)

Franklin Templeton International Services S.a r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Calin Metes

Marius Nechifor

Permanent representative

Compliance Officer

BRD Groupe Societe Generale

Victor Strambei

Claudia Ionescu

Manager Depositary Department

Director

[English translation of the original report in Romanian - for information purposes only]

Annex - Valuation methods used for the securities and the monetary market instruments held by Fondul Proprietatea S.A. as at 31 January 2020

The valuation methods used for the computation of the NAV as at 31 January 2020, for the securities and the monetary market instruments held by Fondul Proprietatea S.A. are the following:

  1. Listed companies on BVB traded within last 30 trading days: Closing Price
  2. Listed companies on AeRo market (alternative trading system) traded within last 30 trading days: Reference price – Average Price
  3. Listed companies with no trades within last 30 trading days: Fair value / share;
  4. Unlisted companies: Fair value / share;
  5. Companies in insolvency, judicial reorganization, liquidation, dissolution or bankruptcy: Valued at zero;
  6. Unlisted companies for which the annual financial statements for the previous year are not available within 90 days after the legal submission deadline: Valued at zero;
  7. Listed government bonds: Fair value (reference composite price, including the cumulated interest);
  8. Bank deposits: Bank deposit amount cumulated with the accrued interest receivable calculated for the period elapsed since its creation date.

Franklin Templeton International Services S.a r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Calin Metes

Permanent Representative

Marius Nechifor

Compliance Officer

[English translation of the original report in Romanian - for information purposes only]


Annex – Changes in the valuation methods used for the computation of the NAV of Fondul Proprietatea as at 31 January 2020

There was no change of the valuation methods used for the computation of the NAV as at 31 January 2020 for Fondul Proprietatea S.A, as compare to 31 December 2019, respectively from the last reporting of the net asset value of Fondul Proprietatea.

Franklin Templeton International Services S.a r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Calin Metes

Marius Nechifor

Permanent representative

Compliance Officer

[English translation of the original report in Romanian - for information purposes only]



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