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FONDUL PROPRIETATEA - FP

Voting recommendations and supporting materials for the 28 April 2021 GSM

Release Date: 4/5/2021 5:40:44 PM

IRIS Code: DBA03

To:          Bucharest Stock Exchange

                Financial Supervisory Authority

               London Stock Exchange

 

Current report according to Article 99 letter (s) of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments

Important events to be reported:

Voting recommendations and supporting materials related to the 28 April 2021 shareholders’ meetings

Franklin Templeton International Services S.A R.L., in its capacity as alternative investment fund manager and sole director (the “Fund Manager”) of Fondul Proprietatea S.A. (the "Fund"), would like to remind shareholders that the Fund Manager has summoned the Fund’s Extraordinary (“EGM”) and Ordinary (“OGM”) General Shareholders’ Meetings for 28 April 2021 at ATHENEE PALACE HILTON BUCHAREST” Hotel, Le Diplomate Salon, 1-3 Episcopiei Street, Sector 1, Bucharest, 010292, Romania, starting at 11 a.m. (Romanian time) for EGM, and 12 p.m. (Romanian time) for the OGM.

 

The entire EGM and OGM supporting documentation is available for the shareholders’ reference at  https://www.fondulproprietatea.ro/home/investor-relations/gsm-information/gsm-documentation/2021.html .

In the context of the COVID-19 pandemic, for the safety of our shareholders and for prudency reasons, in order to ensure compliance with the legal provisions, the Fund Manager recommends voting by correspondence, in accordance with the procedures described in the convening notice.

The Fund Manager recommends voting in favour of all the points on the EGM’s and OGM’s agenda, except for point 1.2. of the OGM agenda (i.e. the simultaneous termination of the mandate of Franklin Templeton International Services S.a r.l. as the alternative investment fund manager and sole director of the Fund, and of the Management Agreement signed between Franklin Templeton International Services S.a r.l. and the Fund), for which we recommend voting “against.

 

Our recommendation for a vote against this point of the agenda is based on the fact that the Fund Manager has taken all reasonable actions within its powers to narrow the trading discount, but the evolution of the trading discount is independent from the exclusive will of the Fund Manager. For details regarding the measures taken to reduce the discount, as well as the significant challenges encountered, please refer to the Performance Report, which is available on the Fund’s website mentioned above, as part of the supporting documentation for the OGM.

 

The Fund Manager’s voting recommendations contained herein are not binding in any way and should not be deemed under any circumstances as a supporting documentation/argument for substantiating one’s vote. The Fund Manager will implement and will comply with all the decisions taken by the Fund’s shareholders, irrespective of its recommendations herein, subject to compliance with law and regulation.

 

Franklin Templeton International Services S.A R.L., acting as Alternative Investment Fund Manager of FONDUL PROPRIETATEA S.A.

Johan MEYER

Permanent Representative

Report date:

5 April 2021

 

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 3,749,282,292.08

 

Paid-up share capital:

RON 3,560,099,870.08

 

Number of shares in issue:

7,210,158,254

 

Number of paid shares:

6,846,345,904

 

Regulated market on which

the issued securities are

traded:

Shares on Bucharest Stock

Exchange
 

GDRs on London Stock

Exchange

 

 

 

 

 

 

 

 



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