To: Bucharest Stock Exchange Financial Supervisory Authority London Stock Exchange Current report according to Article 113 of the Romanian National Securities Commission Regulation no. 1/2006 regarding the issuers and the operations with securities, as subsequently amended and completed, as well as the provisions of Article 99 of the Code of the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments. Important events to be reported: Endorsement of the cancelation of the shares acquired during the fourth buy-back programme Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch ("the Fund Manager"), in its capacity as sole director and fund manager of Fondul Proprietatea SA ("the Fund"), would like to inform shareholders and investors that the Financial Supervisory Authority ("FSA"), endorsed, through Decision no. 278 / 12 August 2015, the decrease of the Fund's subscribed share capital from RON 10,965,850,800.30 to RON 10,074,080,745.90, following the cancellation of 990,855,616 treasury shares acquired by the Fund during the fourth buy-back programme. The share capital decrease is effective beginning with 12 August 2015. Therefore, starting with this date, the new value of the Fund's subscribed share capital is RON 10,074,080,745.90, divided into 11,193,423,051 shares, with a nominal value of RON 0.90/share. The value of the Fund's paid-up share capital is RON 9,746,649,630.90, divided into 10,829,610,701 shares. In accordance with Article 14 paragraph (1) of FSA's Regulation no. 4/2013 on global depositary receipts ("GDRs"), the number of GDRs that can be issued is limited to 1/3 of the total number of shares issued by the Fund. Considering the share capital decrease mentioned above, the new limit of shares that can be converted to GDRs is 3,731,141,017 shares (equivalent to 74,622,820 GDRs, with one GDR representing 50 shares). As previously reported, the Bank of New York Mellon was holding 3,548,783,250 shares equivalent to 70,975,665 GDRs as at 31 July 2015. Following the FSA endorsement for the share capital decrease, the Fund Manager will announce shortly the commencement of the 6th buy-back programme for 891,770,055 shares or the equivalent number of GDRs, representing approximately 7.97% of the Fund's issued share capital. Please find enclosed herein the full text of FSA's Decision no. 278 / 12 August 2015. Please note that the Fund's Constitutive Act in force can be accessed on the Fund's webpage here: http://www.fondulproprietatea.ro/sites/default/files/constitutive_act_updated_at_12_august_2015.pdf. Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting as Sole Administrator on behalf of FONDUL PROPRIETATEA S.A. Oana Valentina Truta Legal Representative |
Report date:
13 August 2015 Name of the issuing entity:
Fondul Proprietatea S.A. Registered office:
78-80 Buzesti St.,
7th floor, district 1,
Bucharest, postal code 011017 Phone/fax number:
Tel.: + 40 21 200 9600
Fax: + 40 21 200 9631 Sole Registration Code with the Trade Register Office:
18253260 Order number in the
Trade Register:
J40/21901/2005 Subscribed share capital:
RON 10,074,080,745.90 Paid-up share capital:
RON 9,746,649,630.90 Number of shares in issue: 11,193,423,051 Number of paid shares: 10,829,610,701 Regulated market on which the issued securities are traded:
Shares on Bucharest Stock Exchange GDRs on London Stock Exchange |