Franklin Templeton, which is an alternate investment fund manager and sole director of the Fund, confirmed its willingness to enter into direct negotiations with the Board of Nominees for a new four-year mandate, as approved by the Fund’s General Meeting of Shareholders on September 29.
The General Meeting of Shareholders on September 29 decided to authorize the Board of Nominees to negotiate the duration of the mandate, the commercial terms and the draft of the management agreement prior to convening the general meeting of shareholders for the approval of the new management agreement.
Franklin Templeton in its response to the letter communicated to the Board of Nominees its key proposed commercial terms for consideration and assessment.
FTIS remains fully committed to its responsibilities towards the Fund and its shareholders and continues to leverage the expertise and capabilities of its Bucharest team, supported by the broader organization.
(English version by Loredana Fratila-Cristescu)