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Bucharest
February 25, 2021
ECONOMY

Fondul Proprietatea has registered a loss of Ron 585.6 million in Q1

Fondul Proprietatea  has ended the first trimester of this year with a net unaudited loss of Ron 585.6 million, compared to the net loss of the quarter ended at March 31, 2015, amounting Ron 668.7 million, according to the data submitted to the Bucharest Stock Exchange.

Total equity was amounted to Ron 11.394 billion at March 31, 2016, 5.5 percent lower compared to the value of Ron 12.053 billion, registered at December 31, 2015.

In the first quarter of 2016, the Fund completed the cancellation for the shares purchased in the fifth repurchase program, continuing the implementation of the sixth repurchasing program. The seventh repurchasing program was approved by the shareholders in the General Meeting of the Shareholders (AGA) held in October 2015.

All the repurchasing programs performed by the Fund aim to reduce the share capital, according to the shareholders’ decision. During the first trimester of 2016, the Fund has repurchased a total number of 56,329,436 equities within the sixth repurchasing program, representing 0.5 percent of the total number of shares issued on March 31, 2016, for a total purchasing value of more than Ron 42.8 million, including the transaction costs.

Launched in December 2005, Fondul Proprietatea Fund was designed to compensate Romanian people whose properties were confiscated by the former communist regime. On September 29, 2010, following the international tender announced in December 2008, Franklin Templeton Investments officially took over the position of the Investments Manager and sole Manager of the Fund. The Fund is a closed-end investment company, having the investment objective to maximize the performances and to obtain capital appreciation per share through making investments mainly in Romanian shares and in securities associated to the shares.

Fondul Proprietatea is traded on the Bucharest Stock Exchange since January 25, 2011, being listed on the Specialist Fund Market segment of the London Stock Exchange through the deposit certificates (GDR) on April 29, 2015.

 

 

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