REG - Fondul Proprietatea - Commencement of selection process of an AIFM

Fondul Proprietatea SAAnnouncement

07/10/2024 09:45

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RNS Number : 1781H  Fondul Proprietatea S.A.  07 October 2024

 To:          Bucharest Stock Exchange                                                                                                         Report date:

                 Financial Supervisory Authority                                                                                               7 October 2024

                London Stock Exchange

                                                                                                                                               Name of the issuing entity:

 Current report according to Article 234 para. (1) of the Financial Supervisory                                                                Fondul Proprietatea S.A.
 Authority Regulation no. 5/2018 on issuers of financial instruments and market

 operations, as well as the provisions of Article 99 letter a) of the Code of
 the Bucharest Stock Exchange, Title II, Issuers and Financial Instruments.

                                                                                                                                             Registered office:
 Important events to be reported:

                                                                                                                                             76-80 Buzesti Street
 Commencement of selection process for an alternative investment fund manager

                                                                                                                                             7(th) floor, district 1,
 Further to Resolution no. 9 / 25 September 2023 of the Ordinary General

 Meeting of Shareholders ("OGMS") of Fondul Proprietatea S.A. ("Fondul"),                                                                      Bucharest, 011017
 published on the Fund's website here

 (https://www.fondulproprietatea.ro/files/live/sites/fondul/files/en/gsm-decisions/2023/25%20September/OGM%209_Res%20selection%20-%20MF.pdf)
 , the Board of Nominees ("Board / BoN") of Fondul Proprietatea S.A. is pleased

 to announce investors the commencement of the selection process for an                                                                        Phone/fax number:
 alternative investment fund manager ("AIFM") for Fondul. This process is based

 on the selection criteria approved by Fondul shareholders by Resolution no. 13                                                                Tel.: + 40 21 200 96 00
 of the Ordinary General Meeting of Shareholders held on 27 September 2024. The

 selection criteria are appended to this announcement.                                                                                         Fax: +40 31 630 00 48

 Additionally, the BoN shall conduct the selection process of an alternative
 investment fund manager of Fondul using the services of the selection advisor

 Numis Securities Limited, a member of Deutsche Bank Group ("Deutsche Numis"),                                                                 Email:
 as approved by the shareholders at the OGMS held on 27 September 2024.

                                                                                                                                             office@fondulproprietatea.ro (mailto:office@fondulproprietatea.ro)
 Prospective AIFM candidates are invited to register their interest with

 Deutsche Numis by no later than 21 October 2024. Contact details for whom are
 provided at the conclusion of this announcement.

Deutsche Numis  Tel: +44 (0)20 7260 1000                                                                                                     Internet:

                                                                                                                                               www.fondulproprietatea.ro (http://www.fondulproprietatea.ro)
 Nathan Brown    Email: DBNumis_Project_Danube@dbnumis.com

 Amit Wangoo

                                                                                                                                             Sole Registration Code with the Trade Register Office:

                                                                                                                                             18253260

 

                                                                                                                                             Order number in the Trade Register:
 Appendix

                                                                                                                                             J40/21901/2005

 The following selection criteria, as approved within the OGMS of 27 September

 2024, shall be used when selecting the new AIFM of Fondul:                                                                                    Subscribed and paid-up share capital:

 a.   Established investment management entity operating to global standards                                                                   RON 1,849,342,164.28
 in asset management, client servicing, compliance, financial reporting,

 investor relations, and risk management, and with experience and expertise in
 mandates invested in Romania and/or similar markets.

 b.   Proposal for Fondul's investment mandate which should predominantly be

 focused on continued investment in domestic entities, including state-owned                                                                   Number of shares in issue and paid-up:
 enterprises, and which may involve further direct or indirect investment in

 unquoted entities.                                                                                                                            3,556,427,239

 c.   Regulatory authorisation necessary to implement Fondul's investment
 mandate, specifically an AIFM authorised as an alternative investment fund

 manager by the Romanian Financial Supervisory Authority or an EU-authorised                                                                   Regulated market on which the issued securities are traded:
 AIFM with a credible basis for seeking a passport to operate in Romania.

                                                                                                                                             Shares on Bucharest Stock Exchange
 d.   Internal resources necessary to implement Fondul's investment mandate

 including operational capacity in Romania (or credible basis for establishing                                                                 GDRs on London Stock Exchange
 a Romanian office) (or credible proposal to put resources in place which may

 involve an outsourcing model).

 e.   Remuneration structure aligned with interests of shareholders as a
 whole in the long-term delivery of Fondul's investment mandate.

 The Board of Nominees of Fondul Proprietatea S.A.

 Ilinca von DERENTHALL

 Chairperson

 

 

Appendix

 

The following selection criteria, as approved within the OGMS of 27 September
2024, shall be used when selecting the new AIFM of Fondul:

a.   Established investment management entity operating to global standards
in asset management, client servicing, compliance, financial reporting,
investor relations, and risk management, and with experience and expertise in
mandates invested in Romania and/or similar markets.

b.   Proposal for Fondul's investment mandate which should predominantly be
focused on continued investment in domestic entities, including state-owned
enterprises, and which may involve further direct or indirect investment in
unquoted entities.

c.   Regulatory authorisation necessary to implement Fondul's investment
mandate, specifically an AIFM authorised as an alternative investment fund
manager by the Romanian Financial Supervisory Authority or an EU-authorised
AIFM with a credible basis for seeking a passport to operate in Romania.

d.   Internal resources necessary to implement Fondul's investment mandate
including operational capacity in Romania (or credible basis for establishing
a Romanian office) (or credible proposal to put resources in place which may
involve an outsourcing model).

e.   Remuneration structure aligned with interests of shareholders as a
whole in the long-term delivery of Fondul's investment mandate.

The Board of Nominees of Fondul Proprietatea S.A.

Ilinca von DERENTHALL

Chairperson

 

 

 

Report date:

7 October 2024

 

Name of the issuing entity:

Fondul Proprietatea S.A.

 

Registered office:

76-80 Buzesti Street

7(th) floor, district 1,

Bucharest, 011017

 

Phone/fax number:

Tel.: + 40 21 200 96 00

Fax: +40 31 630 00 48

 

Email:

office@fondulproprietatea.ro (mailto:office@fondulproprietatea.ro)

 

Internet:

www.fondulproprietatea.ro (http://www.fondulproprietatea.ro)

 

Sole Registration Code with the Trade Register Office:

18253260

 

Order number in the Trade Register:

J40/21901/2005

 

Subscribed and paid-up share capital:

RON 1,849,342,164.28

 

 

Number of shares in issue and paid-up:

3,556,427,239

 

Regulated market on which the issued securities are traded:

Shares on Bucharest Stock Exchange

GDRs on London Stock Exchange

 

 

 

 

 

 

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