REG - Fondul Proprietatea - NAV as of 31 January 2024

Fondul Proprietatea SAAnnouncement

12/02/2024 16:15

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RNS Number : 8691C  Fondul Proprietatea S.A.  12 February 2024

 Fund Administrator:  Franklin Templeton International Services S.à r.l.
 Administrator Code:  PJM07.1AFIASMDLUX0037
 Fund:                Fondul Proprietatea SA
 Fund Code:           PJR09FIAIR/400018
 Reporting date:      31.01.2024

Statement of Assets and Liabilities of Fondul Proprietatea SA and the Net
Asset Value calculation according with the FSA Regulations No. 9/2014 and No.
7/2020, as subsequently amended

         RON

 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         0.00
 contract
 6. Financial assets                                                             2,221,427,088.48
 6.1. Financial assets at amortised cost                                         0.00
 6.2. Financial assets at fair value through profit or loss, out of which:       2,221,427,088.48
 6.2.1. Shares traded or listed on regulated markets in Romania*                 121,788,584.96
 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              2,099,638,503.52
 6.2.5. Bonds admitted to trading issued or guaranteed by central government     0.00
 authorities
 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)                                             521,710,383.23
 8. Bank deposits                                                                    149,360,449.8900
 9. Other assets                                                                 1,635,673.63
 9.1. Dividends and other receivable rights                                      0.00
 9.2. Other assets                                                               1,635,673.63
 10. Prepaid expenses                                                            0.00
 11. Total Assets                                                                2,894,133,595.23

 

 12. Total liabilities                                  546,205,353.73
 12.1. Financial liabilities at amortised cost          545,845,450.22
 12.2. Deferred tax liability                           0.00
 12.3. Other debts                                      359,903.51
 13. Provisions for risks and charges                   0.00
 14. Deferred income                                    0.00
 15. Shareholders' equity, out of which:                2,347,928,241.50
 15.1. Share capital                                    2,947,779,186.56
 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                          0.01
 15.6. Reserves                                         646,805,768.60
 15.7. Treasury shares                                  -1,873,193,280.09
 15.8. Retained earnings                                628,746,812.43
 15.9. Period result                                    -2,210,246.01
 16. Net Asset Value                                    2,347,928,241.50
 17. Number of issued shares**                          3,556,427,239
 18. Net asset value per share                          0.6601
 19. Number of portfolio companies out of which:        25
 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                 20

Legend:

* = Include also the value of holdings admitted to trading on AeRo market
(alternative regulated market)

** = Represents the number of paid issued shares excluding treasury shares and
repurchased own shares related to the global depositary receipts or
certificates of interest of own shares, according with FSA Regulation no.
7/2020, as subsequently amended.

 Leverage of the fund

 Method type           Leverage level  Exposure amount
 a) Gross method       94.61%          2,221,430,447.76
 b) Commitment method  100.00%         2,347,928,241.50

Franklin Templeton International Services S.à r.l., in its capacity of
alternative investment fund manager of Fondul Proprietatea SA

 Johan Meyer                Marius Nechifor

 Permanent representative   Compliance Officer

 

BRD Groupe Societe Generale

 Victor Strâmbei

Manager Depositary Department

Annex - Valuation methods used for the securities and the monetary market
instruments held by Fondul Proprietatea S.A. (31 January 2024)

Listed shares

     Name             Symbol  Valuation method
 1   Alcom SA         ALCQ    Value based on the valuation report as at 31 October 2023 (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    Value based on the valuation report as at 30 June 2023 (applying the
                              asset-based approach)
 5   Romaero SA       RORX    Value based on the valuation report as at 30 June 2023 (applying the income
                              approach using the discounted cash flow method)

Unlisted shares

     Name                                                         Symbol  Valuation method
 1   Aeroportul International Mihail Kogalniceanu - Constanta SA          Value based on the valuation report as at 31 October 2023 (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 2023 (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 2023 (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 2023 (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 2023 (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 October 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 October 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 2023 (applying the income
                                                                          approach using the discounted cash flow method)
 9   Engie Romania SA                                                     Fair value/ share (SPA Price)
 10  Plafar SA                                                            Value based on the valuation report as at 31 October 2023 (applying the income
                                                                          approach using the discounted cash flow method)
 11  Posta Romana SA                                                      Value based on the valuation report as at 31 October 2023 (applying the market
                                                                          comparison technique using comparable trading multiples for Price/Earnings)
 12  Societatea Nationala a Sarii SA                                      Value based on the valuation report as at 31 October 2023 (applying the income
                                                                          approach using the discounted cash flow method)
 13  Societatea Electrocentrale Craiova SA                                Value based on the valuation report as at 31 October 2023 (applying the market
                                                                          comparison technique using comparable trading multiples for EV/Revenue)
 14  World Trade Hotel SA                                                 Priced at zero (lack of annual financial statements for the last 10 financial
                                                                          years including the financial statements for the year-ended 31 December 2022;
                                                                          last available financial statements are those for the year-ended 31 December
                                                                          2012)
 15  Zirom SA                                                             Value based on the valuation report as at 31 October 2023 (applying the income
                                                                          approach using the discounted cash flow method)

Shares of companies in insolvency/ judicial
reorganization/liquidation/dissolution/ bankruptcy

     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)

Bank deposits

 Name           Symbol  Valuation method
 Bank deposits          Bank deposit amount cumulated with the accrued interest receivable calculated
                        for the period elapsed from its starting date

Franklin Templeton International Services S.à r.l., in its capacity of
alternative investment fund manager of

Fondul Proprietatea SA

 

 Johan Meyer                    Marius Nechifor

 Permanent Representative       Compliance Officer

 BRD Groupe Societe Generale

 Victor Strâmbei
 Manager Depositary Department

 

Annex - Changes in the valuation methods used for the computation of the NAV
of Fondul Proprietatea as of 31 January 2024

 

There was no change of the valuation methods used for the computation of the
NAV as at 31 January 2024 for Fondul Proprietatea S.A, as compared to 31
December 2023, respectively from the last reporting of the net asset value of
Fondul Proprietatea.

 

 

Franklin Templeton International Services S.à r.l., in its capacity of
alternative investment fund manager of Fondul Proprietatea SA

 Johan Meyer               Marius Nechifor
 Permanent representative  Senior Compliance Officer

 

 

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