The operation aims to reduce the fund’s share capital.
Shareholders will discuss ” the authorization of the Sole Director to buy-back shares of Fondul Proprietatea S.A., global depositary receipts or depositary interests corresponding to shares of Fondul Proprietatea S.A., via trading on the regular market on which the shares, the global depositary receipts or the depositary interests corresponding to the shares of Fondul Proprietatea S.A. are listed or public tender offers, in compliance with the applicable law, for a maximum number computed so that all the outstanding treasury shares (acquired during this programme and/or previous ones) will not exceed 20% of the issued share capital at the relevant time, starting with the publication of this resolution in the Official Gazette of Romania, Part IV, for a maximum period of 18 months as of the date when this shareholders’ resolution is published in the Official Gazette of Romania, Part IV”, the fund said in a statement on Wednesday.
Shareholders will decide on the continuation or not of the mandate of Franklin Templeton International Services S.A.R.L. as Fondul Proprietatea’s alternative investment fund manager and sole director.
Shareholders will also discuss the appointment of Deloitte Audit as financial auditor of Fondul Proprietatea.
The Fund currently has a share capital of RON5.23 billion and a capitalization of RON8.69 billion. On the Bucharest Stock Exchange, on Wednesday, the fund traded down 0.12%, at RON0.86 per share.