Last checked at 15 Jan 2019 07:00
To: | FINANCIAL SUPERVISORY AUTHORITY |
BUCHAREST STOCK EXCHANGE | |
LONDON STOCK EXCHANGE | |
Re: | Notification regarding the transactions performed within the Fund's tenth 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 7 - 11 January 2019:
a) Issuer's name (buyer) | FONDUL PROPRIETATEA S.A. Bucharest Stock Exchange Symbol: FP London Stock Exchange Symbol: FP.
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b) Brokers' names | · BANCA COMERCIALA ROMANA S.A. (hereinafter referred to as "BCR") (as buy-back agent in relation to the purchase of shares), and · AUERBACH GRAYSON (hereinafter referred to as "AGCO") (as buy-back agent in relation to the purchase of GDRs)
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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")
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d) Transaction's type | Buy-back |
e) Details with respect to the execution of the buy-back market orders
| Within the trading session
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f) Total number of shares and equivalent shares of GDRs bought-back in the reporting period, out of which: | 8,292,974 |
- current number of shares bought back | 5,741,674 |
- equivalent shares of current number of GDRs bought back | 2,551,300 |
g) Total value of the transactions performed in the reporting period (RON), out of which: | 7,336,430.61 |
- value of the shares acquisition (RON) | 5,109,080.75 |
- estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the National Bank of Romania (RON) | 2,227,349.86 |
h) Total number of shares and equivalent shares of GDRs repurchased since the start of the tenth buy-back program | 13,470,525 |
- number of shares bought back | 7,736,125 |
- equivalent shares of current number of GDRs bought back - equivalent shares of current number of GDRs converted in shares from the start of tenth buy-back programme | 5,734,400 (representing 114,688 GDRs)
0 (representing 0 GDRs) |
- % of subscribed share capital as at 28 December 20181 | 0.1480% (and 16.4960% computed to the total outstanding treasury shares and equivalent) |
- % of paid-up share capital as at 28 December 2018 | 0.1542% (and 17.1828% computed to the total outstanding treasury shares and equivalent) |
- % of total voting rights as at 31 December 2018, as received from Depozitarul Central SA2
| 0.1858% (and 20.7046% computed to the total outstanding treasury shares and equivalent)
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i) Total value of the shares repurchased since the start of the tenth buy-back program (RON) | 11,836,000.38 |
- value of the shares acquisition (RON) | 6,878,452.00 |
- estimated value of the equivalent shares of GDRs based on the exchange rate communicated by the National Bank of Romania (RON) | 4,957,548.38 |
j) Number of shares left to be repurchased within the tenth buy-back programme as of the date of this notification3 | 736,529,475 |
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
| Weighted average price per security (currency)* | Volume of the transaction (no. of securities) | Value of the transaction (currency) |
7 January 2019
| BVB | RON 0.9000 | 1,017,440 shares | RON 915,696.00 |
LSE | USD 10.7232 | 21,526 GDRs (1,076,300 shares equivalent) | USD 230,827.60 | |
8 January 2019
| BVB | RON 0.8997 | 1,015,818 shares | RON 913,955.83 |
LSE | USD 10.6000 | 11,500 GDRs (575,000 shares equivalent) | USD 121,900.00 | |
9 January 2019
| BVB | RON 0.8892 | 1,234,608 shares | RON 1,097,838.13 |
10 January 2019 | BVB | RON 0.8844 | 1,200,356 shares | RON 1,061,594.85 |
LSE | USD 10.7000 | 18,000 GDRs (900,000 shares equivalent) | USD 192,600.00 | |
11 January 2019 | BVB | RON 0.8795 | 1,273,452 shares | RON 1,119,995.94 |
* The weighted average price per security was rounded to 4-digits
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 note that on 28 December 2018, the cancellation of 74,210,188 shares acquired during BB8 was registered with the Trade Registry. Thus, as of 28 December 2018, the new values of the Fund's share capital are: subscribed share capital RON 4,733,020,898.32, divided in 9,101,963,266 shares, and the paid-up share capital is RON 4,543,838,476.32, divided in 8,738,150,916 shares.
2 The total voting rights does not reflect yet the share capital decrease which was effective starting with 28 December 2018, as its implementation with Depozitarul Central S.A. is ongoing and it is expected to be implemented before end of January 2019.
3 As per the Fund's Extraordinary General Shareholders Meeting Resolution no. 4 of 14 November 2018, published in the Official Gazette of Romania, Part IV, no. 4592 on 4 December 2018, the tenth buyback programme refers to the acquisition by the Fund of a maximum number of 750,000,000 shares and/or equivalent global depository receipts corresponding to the Fund's shares ("GDRs"). The duration of the tenth buyback programme is 1 January 2019 - 31 December 2019. The shares repurchased during this buyback programme will be cancelled.