Fondul Proprietatea Regulatory News (FP.)

Fund Administrator:

Franklin Templeton International Services S.à r.l.

Administrator Code:

PJM07.1AFIASMDLUX0037

Fund:

Fondul Proprietatea SA

Fund Code:

PJR09FIAIR/400018

Reporting date: 

30.06.2023

1. Intangible assets

0.00

2. Tangible assets

0.00

3. Real estate investments

0.00

4. Biological assets

0.00

5. Assets representing rights to use the underlying assets in a leasing contract

0.00

6. Financial assets

12,102,999,567.57

6.1. Financial assets at amortised cost

0.00

6.2. Financial assets at fair value through profit or loss, out of which:

12,102,999,567.57

6.2.1. Shares traded or listed on regulated markets in Romania*

162,004,659.25

6.2.2. Shares admitted or traded on a regulated market from a member state

0.00

6.2.3. Shares traded or listed on regulated markets from a non-EU Member State

0.00

6.2.4. Shares issued by Romanian companies not admitted to trading

11,940,994,908.32

6.2.5. Bonds admitted to trading issued or guaranteed by central government authorities

0.00

6.2.6. Municipal bonds

0.00

6.2.7. Corporative bonds

0.00

6.2.8. Treasury bills

0.00

6.2.9. Newly issued securities

0.00

6.2.10. Participation titles of UCITS and/or of OCIU/AIF

0.00

6.2.11. Equity titles

0.00

6.2.12. Derivates

0.00

6.2.13. Other financial assets

0.00

6.3. Financial assets at fair value through other comprehensive income

0.00

7. Cash (cash and cash equivalents)

81,061,489.25

8. Bank deposits

786,670,191.43

9. Other assets

176,448,594.13

9.1. Dividends and other receivable rights

175,778,044.03

9.2. Other assets

670,550.10

10. Prepaid expenses

444,087.95

11. Total Assets

13,147,623,930.33

12. Total liabilities

139,620,271.34

12.1. Financial liabilities at amortised cost

118,383,402.14

12.2. Deferred tax liability

0.00

12.3. Other debts

21,236,869.20

13. Provisions for risks and charges

0.00

14. Deferred income

0.00

15. Shareholders' equity, out of which:

13,008,003,658.99

15.1. Share capital

3,233,269,110.76

15.2. Elements similar to share capital

0.00

15.3. Other elements of shareholders' equity

0.00

15.4. Share capital premiums

0.00

15.5. Revaluation differences

-5,670.53

15.6. Reserves

1,555,650,832.29

15.7. Treasury shares

-1,805,762,490.10

15.8. Retained earnings

10,705,120,754.40

15.9. Period result

-680,268,877.83

16. Net Asset Value

13,008,003,658.99

17. Number of issued shares**

5,396,756,645

18. Net asset value per share

2.4103

19. Number of portfolio companies out of which:

31

19.1 Companies admitted to trading on an EU market

5

19.2 Companies admitted to trading on a non-EU market

0

19.3 Companies not admitted to trading

26

Method type

Leverage level

Exposure amount

a) Gross method

93.04%

12,103,006,622.38

b) Commitment method

100.00%

13,008,003,658.99

Johan Meyer

Permanent representative

Marius Nechifor

Compliance Officer

Victor Strâmbei

Name

Symbol

Valuation method

1

Alcom SA

ALCQ

Value based on the valuation report as at 31 October 2022 (applying the income approach using the discounted cash flow method)

2

Alro Slatina SA

ALR

Closing Price

3

IOR SA

IORB

Reference price (Closing Price)

4

Mecon SA

MECP

Fair value (Last trading price)

5

Romaero SA

RORX

Reference price (Closing Price)

1

Aeroportul International Mihail Kogalniceanu - Constanta SA

Value based on the valuation report as at 31 October 2022 (applying the income approach using the discounted cash flow method)

2

Aeroportul International Timisoara - Traian Vuia SA

Value based on the valuation report as at 31 October 2022 (applying the income approach using the discounted cash flow method)

3

CN Administratia Canalelor Navigabile SA

Value based on the valuation report as at 31 October 2022 (applying the market comparison technique using comparable trading multiples for EBITDA)

4

CN Administratia Porturilor Dunarii Fluviale SA

Value based on the valuation report as at 31 October 2022 (applying the market comparison technique using comparable trading multiples for EBITDA)

5

CN Administratia Porturilor Dunarii Maritime SA

Value based on the valuation report as at 31 October 2022 (applying the market comparison technique using comparable trading multiples for EBITDA)

6

CN Administratia Porturilor Maritime SA

Value based on the valuation report as at 31 May 2023 (applying the income approach using the discounted cash flow method)

7

CN Aeroporturi Bucuresti SA

Value based on the valuation report as at 31 May 2023 (applying the income approach using the discounted cash flow method)

8

Complexul Energetic Oltenia SA

Value based on the valuation report as at 31 October 2022 (valued at zero mainly due to high net debt position)

9

E-Distributie Banat SA

Fair value / share (as per Aggregated Value agreed in the Sale and Purchase agreement)

10

E-Distributie Dobrogea SA

Fair value / share (as per Aggregated Value agreed in the Sale and Purchase agreement)

11

E-Distributie Muntenia SA

Fair value / share (as per Aggregated Value agreed in the Sale and Purchase agreement)

12

Enel Energie Muntenia SA

Fair value / share (as per Aggregated Value agreed in the Sale and Purchase agreement)

13

Enel Energie SA

Fair value / share (as per Aggregated Value agreed in the Sale and Purchase agreement)

14

Engie Romania SA

Value based on the valuation report as at 31 May 2023 (applying the market comparison technique using comparable trading multiples for EBITDA)

15

Hidroelectrica SA

Value based on the expected IPO proceeds

16

Plafar SA

Value based on the valuation report as at 31 October 2022 (applying the income approach using the discounted cash flow method)

17

Posta Romana SA

Value based on the valuation report as at 31 October 2022 (applying the market comparison technique using comparable trading multiples for Price/Earnings)

18

Societatea Nationala a Sarii SA

Value based on the valuation report as at 31 May 2023 (applying the income approach using the discounted cash flow method)

19

Societatea Electrocentrale Craiova SA

Priced at zero (lack of financial statements required for yearend valuation)

20

World Trade Hotel SA

Priced at zero (lack of annual financial statements for the last 9 financial years including the financial statements for the year-ended 31 December 2021; last available financial statements are those for the year-ended 31 December 2012)

21

Zirom SA

Value based on the valuation report as at 31 October 2022 (applying the income approach using the discounted cash flow method)

Name

Symbol

Valuation method

1

Gerovital Cosmetics SA

Valued at zero (bankruptcy)

2

Romplumb SA

Valued at zero (bankruptcy)

3

Salubriserv SA

Valued at zero (bankruptcy)

4

Simtex SA

Valued at zero (judicial reorganisation)

5

World Trade Center Bucuresti SA

Valued at zero (insolvency)

Name

Symbol

Valuation method

Bank deposits

Bank deposit amount cumulated with the accrued interest receivable calculated for the period elapsed from its starting date

Johan Meyer

Permanent Representative

Marius Nechifor

Compliance Officer

BRD Groupe Societe Generale

Victor Strâmbei

Manager Depositary Department

CN Aeroporturi Bucuresti SA

247.9617

713,000,000

287.9904

828,100,000

115,100,000

0.80%

Engie Romania SA

184.3394

440,700,000

205.0865

490,300,000

49,600,000

0.34%

CN Administratia Porturilor Maritime SA

43.7658

283,000,000

48.4362

313,200,000

30,200,000

0.21%

Societatea Nationala a Sarii SA

136.0705

273,700,000

147.7536

297,200,000

23,500,000

0.16%

TOTAL

1,710,400,000

1,928,800,000

218,400,000

1.52%

Company

Previous value per share

Previous value of the holding (RON)

Current value per share

Current value of the holding

Impact of the valuation update on NAV

Impact of the valuation change on NAV

(RON/share)

(RON)

(RON/share)

(RON) 

(RON)

%

Hidroelectrica SA

121.4564

10,863,100,000

103.4600

9,281,212,040

-1,581,887,960

-11.00%

Johan Meyer

Permanent representative

Marius Nechifor

Senior Compliance Officer