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FONDUL PROPRIETATEA - FP

Entry into force of Law no. 243/2019

Release Date: 1/23/2020 5:10:18 PM

IRIS Code: BDF1E

To:          Bucharest Stock Exchange

                Financial Supervisory Authority

               London Stock Exchange

 

Current report according to Article 234 para. (1) letter z) thereof, of the Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations, as well as the provisions of Article 99 letters c) and d) of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

Important events to be reported:

Entry into force of Law no. 243/2019 regulating the alternative investment funds and amending and supplementing certain normative acts

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch (the “Investment Manager”), in its capacity of investment manager of Fondul Proprietatea SA (the “Fund”), would like to inform investors that:

1.      Law no. 243/2019 regulating the alternative investment funds and amending and supplementing certain normative acts (the “AIF Law”) enters into force on 23 January 2020, repealing, among others, a number of the relevant provisions regulating the Fund of Law 247/2005 on reform in the areas of property and justice, as well as any ancillary measures (“Law no. 247/2005”) starting with 23 July 2020.

2.      According to the AIF Law, the Fund is expressly qualified under the AIF Law as an alternative investment fund oriented to retail investors. Within six (6) months as of the entry into force of the AIF Law (i.e. until 23 July 2020), the Fund shall amend its functioning documentation in accordance with the AIF Law and apply for the required endorsements.

3.      From the date of the entry into force of the AIF Law, the Fund will be subject to specific limitations on the permitted investments, as detailed under Article 35 of the AIF Law. For a transitional period of six (6) months after the entry into force of the AIF Law (i.e. until 23 July 2020), in addition to the specific limitations on the permitted investments detailed under Article 35 of the AIF Law, the Fund will still be subject to the limitations on the permitted investments set out under Article 7¹ of Law no. 247/2005. All investment restrictions are published on the Fund webpage, Investments section, Investment Strategy.

 

Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.

 

Johan MEYER

Legal Representative

Report date:

23 January 2020

Name of the issuing entity:

Fondul Proprietatea S.A.

Registered office:

78-80 Buzesti Street

7th floor, district 1,

Bucharest, 011017

Phone/fax number:

Tel.: + 40 21 200 9600

Fax: + 40 21 200 9631

Email:

office@fondulproprietatea.ro

Internet:

www.fondulproprietatea.ro

Sole Registration Code with the Trade Register Office:

18253260

Order number in the Trade Register:

J40/21901/2005

Subscribed share capital:

RON 3,959,264,762.44

Paid-up share capital:

RON 3,770,082,340.44

Number of shares in issue:

7,613,970,697

Number of paid shares:

7,250,158,347

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock Exchange
GDRs on London Stock Exchange

 

 

 

 

 

 



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