Source - RNS
RNS Number : 5052T
Fondul Proprietatea S.A.
13 October 2017
 

Fund Administrator:

Franklin Templeton International Services S.à r.l.

Administrator Code:

PJM07.1AFIASMDLUX0037

Fund:

Fondul Proprietatea SA

Fund Code:

PJR09SIIR/400006

Reporting date: 

29.09.2017

 

Fondul Proprietatea SA 's Assets and Liabilities based on NAV calculation according with the CNVM Regulation No. 4 / 2010, as subsequently amended

Lei

1. Non-current Assets

7,437,283,109.17

1.1. Intangible assets

343,004.21

1.2. Tangible assets

0.00

1.3. Financial assets

7,436,940,104.96

1.3.1 Listed shares**

11,164,492.45

1.3.2 Unlisted shares

7,423,223,216.50

1.3.3 Government securities

0.00

1.3.4 Certificates of deposits

0.00

1.3.5 Bank deposits

0.00

1.3.6 Municipal bonds

0.00

1.3.7 Corporate bonds

0.00

1.3.8 Newly issued securities

0.00

1.3.9 Participation titles of UCITS and/or of OCIU

0.00

1.3.10 Other financial assets

2,552,396.01

2. Current assets

3,215,378,933.95

2.1 Inventory

0.00

2.2 Receivables out of which:

123,250,459.99

- commercial papers

0.00

2.3 Cash

22,821,800.31

2.4 Short term financial investments

2,351,088,359.07

2.4.1 Listed shares**

2,351,088,359.07

2.4.2 Unlisted shares

0.00

2.4.3 Municipal bonds

0.00

2.4.4 Corporate bonds

0.00

2.4.5 Participation titles of UCITS and/or of OCIU

0.00

2.5 Newly issued securities

0.00

2.6 Government securities

145,256,305.56

2.7 Bank deposits

572,962,009.02

2.8 Certificates of deposits

0.00

2.9 Other current assets

0.00

3. Derivatives

0.00

4. Prepaid expenses

222,626.90

5. Total assets

10,652,884,670.02

6. Total liabilities

46,095,551.67

6.1 Borrowings from bond issues

0.00

6.2 Amounts due to credit institutions

0.00

6.3 Advance payments to customer accounts

0.00

6.4. Payables

18,258,003.02

6.5 Commercial papers due

0.00

6.6 Amounts due to group companies

0.00

6.7 Amounts due to related parties

0.00

6.8 Other debts

27,837,548.65

7. Provisions

856,247.22

8. Deferred income out of which:

0.00

8.1 Subsidies for investments

0.00

8.2 Deferred income

0.00

9. Shareholders' equity out of which:

10,605,932,871.13

9.1 Share capital

5,238,521,987.92

9.2 Share capital premiums

0.00

9.3 Revaluation differences

-6,376.62

9.4 Reserves

4,034,919,871.07

9.5 Retained earnings

425,934,390.13

9.6 Period result

906,562,998.63

9.7 Profit appropriation

0.00

10. Total liabilities and Shareholders' equity

10,652,884,670.02

11. Net Asset Value

10,605,932,871.13

12. No of shares issued*

8,781,020,187

13. Net asset value per share

1.2078

14. Number of portfolio companies out of which:

42

14.1 Companies admitted to trading on a regulated market

5

14.1 Companies admitted to trading on an alternative regulated market***

5

14.3 Companies not admitted to trading

32

Legend:

* = Represents the number of shares related to the paid-up subscribed share capital (according to provisions of Law 247/2005, Title VII, Art. 92, alin. 5 "Subscribed unpaid shares are not taken into account for the computation of net asset value per share for Fondul Proprietatea") excluding (a) the Fund's own shares bought back (Treasury shares), according to provisions of CNVM Regulation no. 4/2010, as subsequently amended, and (b) the equivalent number of shares corresponding to the GDRs bought back

** = Include also the value of holdings admitted to trading on AeRo market (alternative regulated market)

*** = Include the number of companies admitted to trading on AeRo market (alternative trading system)

 

Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as Investment Manager on behalf of FONDUL PROPRIETATEA S.A

 

Oana Truta

Marius Nechifor

Legal representative

Compliance Officer

 

 

BRD Groupe Societe Generale

 

Victor Strâmbei

Claudia Ionescu

Manager Depositary Department

Director

 

 

 

[English translation of the original report in Romanian - for information purposes only]



Annex - Valuation methods used for the securities and the monetary market instruments held by Fondul Proprietatea S.A. as at 29 September 2017

 

The valuation methods used for the computation of the NAV as at 29 September 2017, for the securities and the monetary market instruments held by Fondul Proprietatea S.A. are the following:

 

1.   Listed companies on BVB traded within last 30 trading days: Closing Price

2.   Listed companies on  AeRo market (alternative trading system) traded within last 30 trading days: Reference price - Average Price

3.   Listed companies with no trades within last 30 trading days: Shareholders' equity / share (from the annual financial statements prepared in accordance to Romanian accounting regulations or in accordance to IFRS),  Fair value/share;

4.   Unlisted companies: Shareholders' equity / share (from the annual financial statements prepared in accordance to Romanian accounting regulations or in accordance to IFRS), Fair value / share;

5.   Companies in insolvency or reorganisation: Valued either at zero or at the value provided by an independent valuator;

6.   Companies in liquidation/dissolution/ bankruptcy: Valued at zero;

7.   Companies with negative shareholders' equity, unlisted, or listed but not traded within the last 30 trading days: Valued at zero;

8.   Companies for which the annual financial statements of the previous year were not available 90 days after the legal term: Valued at zero;

9.   Treasury bills: Acquisition price cumulated with the accrued interest receivable calculated for the period elapsed since the date of acquisition;

10. Listed government bonds: Fair value (reference composite price, including the cumulated interest);

11. Bank deposits: Bank deposit amount cumulated with the accrued interest receivable calculated for the period elapsed since its creation date.

 

Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as Investment Manager of FONDUL PROPRIETATEA S.A

 

 

Oana Truta

Legal Representative

 

 

Marius Nechifor

Compliance Officer

 

[English translation of the original report in Romanian - for information purposes only]



Annex - Changes in the valuation methods used for the computation of the NAV of Fondul Proprietatea as at 29 September 2017

 

For the computation of the NAV as at 29 September 2017 for Fondul Proprietatea SA, the valuation methods used for the investments in the companies presented below changed and/or have been updated:

 

IOR SA

For this holding, the valuation method has been changed from Reference price - Average price (respectively Lei 0.4500 /share) to Fair value per share: adjusted trading price published by Reuters (respectively Lei 0.4075 /share) because the shares of this company were not traded during the last 30 trading days and the valuation based on the adjusted trading price published by Reuters is considered to reflect better the fair value of this holding than its shareholders' equity per share (respectively Lei 0.0173 /share). The total impact of this change of valuation method on the Fund's NAV was a decrease of Lei 111,446.60.

 

Romplumb SA

For this holding, the valuation method has been changed from Valued at zero (judicial re-organisation) to Valued at zero (Bankruptcy) due to the fact that on 15 September 2017, Maramures Court of Law decided the starting of the general bankruptcy procedure for this company.  This change of valuation method did not have any impact on the Fund's NAV.

 

 

Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as Investment Manager of FONDUL PROPRIETATEA S.A.

 

Oana Truta

Marius Nechifor

Legal representative

Compliance Officer

 

 

 

 

[English translation of the original report in Romanian - for information purposes only]

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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