The first item on the agenda is the approval of the cancellation of the current manager selection process. In May, the members of the Board of Nominees selected a preferred candidate for the position of Fund’s manager replacing Franklin Templeton: a Luxembourg-based alternative investment fund manager (AIFM) in partnership with Impetum Management S.R.L., a Romanian asset management advisory firm.
The next items on the agenda refer to the „approval of the preparation by the Board of Nominees of a detailed comparative report on the first three offers resulting from the new selection process, presentation of the report to the shareholders, and submission for their vote of the candidates corresponding to the first three selected offers; and the approval of the distribution of dividends totaling lei 37,200,000 from Fund’s unallotted unallocated reserves”.
The payment data would be November 26. Proposals for the dand ex-date are 4 November 2025 and 3 November 2025.
In spring, Fondul Proprietatea announced Marius Dan would replace Johan Meyer as Branch Manager of FTIS Bucharest Branch starting July 1, 2025.
At the same time, Daniel Naftali and Calin Metes would take on the role of Portfolio Managers of the Fund. Daniel Naftali would replace Johan Meyer as Permanent Representative for the Fund, while Calin Metes would be appointed as Substitute of the Permanent Representative.
Effective with the same date, i.e. 1 July 2025, Johan Meyer, CEO of FTIS Bucharest Branch and Permanent Representative of the Fund, stepped down from his management responsibilities related to FTIS Bucharest Branch and Fondul Proprietatea following his decision to leave Franklin Templeton after 21 years of service.
FP shares have lost 32% since the start of the year, driving the company’s market value to RON1.5 billion.
The fund ended 2024 with RON339.4 million net profit, after a RON904.1 million loss in 2023. Assets reached RON2.54 billion, down 14%.
(English version by Catalina Apostoiu)