To: Bucharest Stock Exchange
Financial Supervisory Authority
London Stock Exchange
Current report according to Article 99 of the Code of the Bucharest Stock Exchange Market Operator, Title II, Issuers and Financial Instruments
Important events to be reported:
Proposal for a special cash distribution to shareholders of RON 0.05/share
Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch (the "Investment Manager"), in its capacity as Investment Manager of Fondul Proprietatea (the "Fund") would like to underline that the cash distribution to shareholders of RON 0.05/share proposed for approval in the shareholder meeting on 31 October 2016 is a special distribution in addition to the annual cash distribution. The proposal for the special distribution is part of the Investment Manager's commitment to continue to reduce the discount to NAV, and is in accordance with the Fund's Cash Distribution Policy.
The details of the proposal can be found under Item 1 of the Fund's Extraordinary General Shareholders Meeting agenda on 31 October 2016. If approved by shareholders, the special distribution will be paid to shareholders starting with 27 March 2017.
The Investment Manager intends to recommend to shareholders an annual cash distribution of at least RON 0.05/share to be approved in early 2017 and paid in June 2017, subject to available funding and necessary approvals, in the absence of exceptional market conditions or circumstances, and subject to any restrictions under Romanian legal or tax regulations.
Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch acting as Investment Manager of FONDUL PROPRIETATEA S.A.
Oana Valentina TRUŢA
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GDRs on London Stock Exchange
This information is provided by RNS