Franklin Templeton selected a consortium comprising Jefferies International Limited, BRD Societe Generale, Swiss Capital and Clifford Chance Badea to help with the technical cross listing, which doesn’t entail the issuance of new shares.
According to Franklin Templeton officials, the cross listing should be completed by the end of 2014.
Also on Monday, Fondul Proprietatea’s shareholders agreed not to pay out dividends from the 2013 net profit, following a previous approval of a cash distribution of 0.05 lei (EUR0.011) a share via a capital decrease operation.
The RON0.05 per share distribution is equivalent to the value of the potential 2013 dividend based on the dividend policy of the fund, Franklin Templeton said earlier this year.
Franklin Templeton’s mandate as the fund’s administrator was extended by two years until 2016. Fondul Proprietatea’s shareholders also approved a higher fee for the UK-based firm.