Fondul Proprietatea S.A. Supporting materials and voting recommendations (4372B)
October 06 2015 - 11:41AM
UK Regulatory
TIDMFP.
RNS Number : 4372B
Fondul Proprietatea S.A.
06 October 2015
To: Bucharest Stock Exchange Report date:
Financial Supervisory Authority 6 October
London Stock Exchange 2015
Name of the
issuing entity:
Current report according to Article Fondul Proprietatea
99 letter (s) of the Rule book of the S.A.
Bucharest Stock Exchange Market Operator, Registered
Title II, Issuers and Financial Instruments office:
Important events to be reported: 78-80 Buzesti
Supporting materials and voting recommendations St.,
related to the 29 October 2015 Extraordinary 7(th) floor,
and Ordinary General Shareholders' district
Meetings 1,
Franklin Templeton Investment Management Bucharest,
Ltd. United Kingdom Bucharest Branch postal code
(the "Fund Manager/ FTIML"), in its 011017
capacity as Sole Director and Fund Phone/fax
Manager of Fondul Proprietatea SA (the number:
"Fund"), would like to remind shareholders Tel.: + 40
that the Fund Manager has summoned 21 200 9600
the Fund's Extraordinary ("EGM") and Fax: + 40
Ordinary ("OGM") General Shareholders' 21 200 9631
Meetings for 29 October 2015 at "Radisson Sole Registration
Blu" Hotel, "Atlas" Room, 63 - 81 Calea Code with
Victoriei Street, District 1, Bucharest, the Trade
starting at 13:00 hours (Romanian time) Register
in case of EGM and 14:00 hours (Romanian Office:
time) in case of OGM. 18253260
The entire supporting documentation Order number
(including the convening notice, the in the
procedure for organizing the shareholders' Trade Register:
meetings, the forms of the general J40/21901/2005
power of attorneys, the special power Subscribed
of attorneys and correspondence vote share capital:
ballots) are available for shareholders' RON 10,074,080,745.90
reference on the Fund's webpage at: Paid-up share
http://www.fondulproprietatea.ro/investor-relations/gsm-information/gsm-documentation. capital:
The Fund Manager recommends that shareholders RON 9,746,649,630.90
vote in favour of all the points on Number of
the EGM's and OGM's agenda, except shares in
for point 5.2 of the OGM agenda (i.e. issue:
the simultaneous termination of FTIML's 11,193,423,051
mandate as Fund Manager and Sole Director
of the Fund, and of the Investment Number of
Management Agreement signed between paid shares:
FTIML and the Fund), for which we recommend 10,829,610,701
voting "against".
Our recommendation for a vote against Regulated
this point of the agenda is based on market on
the fact that the Fund Manager has which the
taken all reasonable actions within issued securities
its powers to narrow the trading discount, are traded:
but the evolution of the trading discount Shares on
is independent from the Fund Manager. Bucharest
For details regarding the measures Stock Exchange
taken to reduce the discount, as well GDRs on London
as the significant challenges encountered, Stock Exchange
please refer to the Performance Report,
which is available on the Fund's webpage
above-mentioned as part of the supporting
documentation for the OGM.
The Fund Manager's voting recommendations
are not binding in any way and should
not be deemed under any circumstances
as supporting documentation or argumentation
for substantiating one's vote, shareholders
being free to decide on the manner
they vote for each item on the agenda.
The Fund Manager will implement and
will comply with all the decisions
taken by the shareholders, irrespective
of its recommendations herein, subject
to compliance with law and regulation.
Franklin Templeton Investment Management
Ltd United Kingdom Bucharest Branch,
acting as Sole Administrator on behalf
of FONDUL PROPRIETATEA S.A.
Grzegorz Konieczny
Legal Representative
This information is provided by RNS
The company news service from the London Stock Exchange
END
DOCBUBDGRXGBGUL
(END) Dow Jones Newswires
October 06, 2015 11:41 ET (15:41 GMT)