Source - RNS
RNS Number : 0493L
Fondul Proprietatea S.A.
16 April 2018
 

To:

FINANCIAL SUPERVISORY AUTHORITY


BUCHAREST STOCK EXCHANGE


LONDON STOCK EXCHANGE

Re:

Notification regarding the transactions performed within the ninth buy-back programme

From:

FONDUL PROPRIETATEA S.A.

 

The undersigned, FONDUL PROPRIETATEA S.A. ("FP / The Fund"), represented by Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting in its capacity as Investment Manager, hereby informs you in its capacity as Issuer on the following information regarding the transactions concluded during 9 - 13 April 2018, per Article 150 paragraph (2) of the NSC's Regulation no. 1/2006 regarding issuers and operations with securities:

 

a) Issuer's name (buyer)

FONDUL PROPRIETATEA S.A.

Bucharest Stock Exchange Symbol: FP

London Stock Exchange Symbol: FP.

b) Broker's name

WOOD & COMPANY FINANCIAL SERVICES A.S. (as buy-back agent in relation to the purchase of shares), and

JEFFERIES INTERNATIONAL LIMITED (as buy-back agent in relation to the purchase of GDRs)

c) Description of the acquired financial instruments

Ordinary shares issued by the Fund (ISIN ROFPTAACNOR5) listed on the Bucharest Stock Exchange ("BVB"), and

Global Depositary Receipts ("GDRs") (ISIN US34460G1067) corresponding to the Fund's shares listed on the London Stock Exchange ("LSE")

d) Transaction's type                                                    

Buy-back

e) Details with respect to the execution of the buy-back market orders

Within the trading session 

f) Total number of shares and equivalent shares of GDRs bought-back in the reporting period, out of which:

5,324,834

-     current number of shares bought back

2,084,834

-     equivalent shares of current number of GDRs bought back

3,240,000 (representing 64,800 GDRs)

g) Total value of the transactions performed in the reporting period (RON), out of which:

5,093,107.32

-     value of the shares acquisition (RON)

2,005,057.23

-     estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the National Bank of Romania (RON)

3,088,050.09

h) Total number of shares and equivalent shares of GDRs repurchased since the start of the ninth buy-back program

1,333,418,181

-     number of shares bought back

752,751,031

-     equivalent shares of current number of GDRs bought back

-     equivalent shares of current number of GDRs converted in shares from the start of ninth buy-back programme

580,667,150 (representing 11,613,343 GDRs)

 

565,282,400 (representing 11,305,648 GDRs)

-     % of subscribed share capital as at 29 March 2018

14.2846% (and 16.7776% computed to the total outstanding treasury shares and equivalent)

-     % of paid-up share capital as at 29 March 2018

14.8639% (and 17.4580% computed to the total outstanding treasury shares and equivalent)

-     % of total voting rights as at 29 March 20181

17.9804% (and 21.1185% computed to the total outstanding treasury shares and equivalent)

 

i) Total value of the shares repurchased since the start of the ninth buy-back program (RON)

1,244,361,715.75

-     value of the shares acquisition (RON)

702,412,152.03

-     estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the National Bank of Romania (RON)

541,949,563.72

j) Number of shares left to be repurchased within the ninth buy-back programme as of the date of this notification2

300,799,263

 

The details of the transactions carried out during the reporting period with respect to the shares and GDRs issued by Fondul Proprietatea SA for the purpose of the buy-back are described further below:

 

Date of the transaction

Market on which the securities were traded

Average price per security

(currency)

Volume of the transaction

(no. of securities)

 

Value of the transaction (currency)

 

10 April 2018

 

BVB

RON 0.9543

125,219 shares

RON 119,496.49

 

LSE

USD 12.5000

27,000 GDRs (1,350,000 shares equivalent)

USD 337,500.00

11 April 2018

 

BVB

RON 0.9602

1,264,174 shares

RON 1,213,859.87

 

12 April 2018

BVB

RON 0.9642

391,059 shares

RON 377,059.09

LSE

USD 12.7000

17,800 GDRs (890,000 shares equivalent)

USD 226,060.00

 

13 April 2018

 

BVB

RON 0.9680

304,382 shares

RON 294,641.78

LSE

USD 12.6500

20,000 GDRs (1,000,000 shares equivalent)

USD 253,000.00

 

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

 

Johan MEYER

Legal Representative

 

 

 

 

1 Please recall that the treasury shares repurchased by Fondul Proprietatea within the buyback programmes do not grant voting rights

2 As per the Fund's Extraordinary General Shareholders Meeting Resolution no. 5 of 26 October 2017, the ninth buyback programme refers to the acquisition by the Fund of a maximum number of shares and / or equivalent GDRs corresponding to the Fund's shares computed so that all the outstanding treasury shares (acquired during this programme and/or previous ones) will not exceed 20% of the subscribed share capital at the relevant time, which represents a total of 1,866,936,455 own shares as of the date of this notification; however, after the cancellation of the shares acquired within the previous / ongoing buyback programmes, the 20% limitation will change and the Fund will notify the market accordingly.


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