FONDUL PROPRIETATEA SA Fund Administrator: | Franklin Templeton Investment Management Limited UK, Bucharest Branch |
Administrator Code: PJM05SSAM/400001 | |
Fund: Fondul Proprietatea SA | |
Fund Code: PJR09SIIR/400006 | |
Reporting date: 29.08.2014 |
Fondul Proprietatea SA 's Assets and Liabilities based on NAV calculation according with the
Regulation No. 4 / 2010, as subsequently amended
Lei
1. Non-current Assets | 6,245,538,563.48 |
1.1. Intangible assets | 664,400.40 |
1.2. Tangible assets | 0.00 |
1.3. Financial assets | 6,244,874,163.08 |
1.3.1 Listed shares** | 8,576,748.40 |
1.3.2 Unlisted shares | 6,236,297,187.89 |
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 | 226.79 |
2. Current assets | 8,780,059,992.51 |
2.1 Inventory | 0.00 |
2.2 Receivables out of which: | 1,135,384.77 |
- commercial papers | 0.00 |
2.3 Cash | 2,274,973.73 |
2.4 Short term financial investments | 7,517,413,506.90 |
2.4.1 Listed shares** | 7,517,413,506.90 |
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 | 933,085,400.24 |
2.7 Bank deposits | 326,150,726.87 |
2.8 Certificates of deposits | 0.00 |
2.9 Other current assets | 0.00 |
3. Derivatives | 0.00 |
1
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest
1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25
• Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
4. Prepaid expenses | 130,368.45 |
5. Total assets | 15,025,728,924.44 |
6. Total liabilities | 70,367,887.80 |
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 | 10,224,575.94 |
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 | 60,143,311.86 |
7. Provisions | 14,997,463.71 |
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: | 14,940,363,572.93 |
9.1 Share capital | 12,861,183,036.65 |
9.2 Share capital premiums | 0.00 |
9.3 Revaluation differences | 3,828,237,015.73 |
9.4 Reserves | -3,492,193,297.30 |
9.5 Retained earnings | 733,501,705.29 |
9.6 Period result | 1,009,635,112.56 |
9.7 Profit appropriation | 0.00 |
10. Total liabilities and Shareholders' equity | 15,025,728,924.44 |
11. Net Asset Value | 14,940,363,572.93 |
12. No of shares issued* | 11,820,293,075 |
13. Net asset value per share | 1.2639 |
14. Number of portfolio companies out of which: | 56 |
14.1 Companies admitted to trading on a regulated market** | 18 |
14.1 Companies admitted to trading on an alternative regulated market | 0 |
14.3 Companies not admitted to trading | 38 |
2
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest
1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25
• Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
Notes:
* = Represents the number of shares related to the paid in 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 the Fund's own shares bought back (Treasury shares), according to provisions of CNVM Regulation no.11/2012.
** = Include also the value of holdings / number of companies admitted to trading on Rasdaq market
Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as sole administrator on behalf of FONDUL PROPRIETATEA S.A
Adrian Cighi
Legal representative
Marius Nechifor
Compliance Officer
BRD Groupe Societe Generale
Victor Strâmbei
Manager Depositary Department
Claudia Ionescu
Director
3
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest
1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25
• Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
Annex - Valuation methods used for the securities and the monetary market instruments held by
Fondul Proprietatea S.A. as at 29 August 2014
The valuation methods used for the computation of the NAV as at 29 August 2014, 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 Rasdaq RGBS traded within last 30 trading days: Reference price - Closing Price (according with the letter received from Financial Supervision Authority in December 2013)
3. Listed companies on Rasdaq XMBS and UNLS traded within last 30 trading days: Reference price - Average Price (according with the letter received from Financial Supervision Authority in December 2013)
4. 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;
5. 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;
6. Companies in insolvency or reorganisation: Valued either at zero or at the value provided by an independent valuator;
7. Companies in liquidation/dissolution/ bankruptcy: Valued at zero;
8. Companies with negative shareholders' equity, unlisted, or listed but not traded within the last
30 trading days: Valued at zero;
9. Companies for which the annual financial statements of the previous year were not available
90 days after the legal term: Valued at zero;
10. Treasury bills: Acquisition price cumulated with the accrued interest receivable calculated for the period elapsed since the date of acquisition;
11. Listed government bonds: Closing price (Gross price);
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25 • Tel.: + 40 21 200
9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
12. 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 sole administrator on behalf of FONDUL PROPRIETATEA S.A
Adrian Cighi Marius Nechifor
Legal Representative Compliance Officer
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25 • Tel.: + 40 21 200
9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
For the computation of the NAV as at 29 August 2014 for Fondul Proprietatea S.A., Franklin Templeton Investment Management changed the valuation methods used for the investments in the companies presented below:
1) Mecon SAFranklin Templeton Investment Management elected to value the investment in this company at
the last available trading price (respectively Lei 4/share), as it was considered to reflect better the fair value of this investment than shareholders' equity per share (respectively Lei 38.5825/share), even though the shares of this company have not been traded in the last 30 days. This change of valuation method did not have any impact on the Fund's NAV.
2) Alcom SAFor this company, the valuation method was changed from Shareholders' equity per share (Lei
75.018/share) to Reference price - Average price (Lei 43.55/share) according to CNVM Regulation 4/2010 amended by CNVM Regulation 11/2012 and FSA letter received in December
2013 (regarding valuation of shares listed on Rasdaq market), because the shares of this company were traded during the last 30 trading days. The total impact of this change of valuation method on the Fund's NAV was a decrease of Lei 2,808,487.53.
3) World Trade Hotel SAFor this company, the valuation method was changed from Shareholders' equity per share (Lei
0.8335/share) to Valuation at zero according to CNVM Disposal of measures no. 23/2012, because the annual financial statements of this company for the year ended 31 December 2013 are not available yet and 90 days of the legal deadline for their submission already passed. The total impact of this change of valuation method on the Fund's NAV was a decrease of Lei
14,929.65.
Franklin Templeton Investment Management Ltd United Kingdom Bucharest Branch, acting as sole administrator on behalf of FONDUL PROPRIETATEA S.A.
Adrian Cighi Marius Nechifor
Legal representative Compliance Officer
[English translation of the original report in Romanian - for information purposes only]
FONDUL PROPRIETATEA S.A., a closed-end investment company administrated under a unitary system • Headquarters at: 78-80 Buzesti Street, 7th floor, Bucharest 1st district, postal code 011017, Romania. • Fiscal Identification Code (CIF): 18253260, registered with the Trade Registry under no: J40/21901/2005 • Registered on Data Protection Notification Registry under number 18668 • Subscribed share capital RON 12,861,183,036.65, Paid Share Capital: RON 12,515,396,724.25
• Tel.: + 40 21 200 9600; Fax: +40 21 200 9631; Email: office@fondulproprietatea.ro; Internet: www.fondulproprietatea.ro
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