Fondul Proprietatea

Net Asset Value • Sep 13, 2019

National Storage Mechanism | Additional information

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RNS Number : 3496M

Fondul Proprietatea S.A.

13 September 2019

Fund Administrator:	Franklin Templeton International Services S.à r.l.
Administrator Code:	PJM07.1AFIASMDLUX0037
Fund:	Fondul Proprietatea SA
Fund Code:	PJR09SIIR/400006
Reporting date:	30.08.2019

Fondul Proprietatea SA 's Assets and Liabilities based on NAV calculation according with the CNVM Regulation No. 4 / 2010, as subsequently amended

Lei

1. Non-current Assets	7,523,852,346.98
1.1. Intangible assets	220,053.37
1.2. Tangible assets	0.00
1.3. Financial assets	7,523,632,293.61
1.3.1 Listed shares**	12,634,922.77
1.3.2 Unlisted shares	7,510,997,370.84
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	0.00
2. Current assets	3,262,214,741.65
2.1 Inventory	0.00
2.2 Receivables out of which:	67,745,095.68
- commercial papers	0.00
2.3 Cash	39,852,524.13
2.4 Short term financial investments	2,806,074,276.72
2.4.1 Listed shares**	2,806,074,276.72
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	100,003,139.39
2.7 Bank deposits	248,539,705.73
2.8 Certificates of deposits	0.00
2.9 Other current assets	0.00
3. Derivatives	0.00
4. Prepaid expenses	290,574.18
5. Total assets	10,786,357,662.81
6. Total liabilities	70,280,696.46
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	17,096,108.21
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	53,184,588.25
7. Provisions	856,247.22
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:	10,715,220,719.13
9.1 Share capital	4,733,020,898.32
9.2 Share capital premiums	0.00
9.3 Revaluation differences	-4,747.37
9.4 Reserves	-728,010,399.29
9.5 Retained earnings	4,848,273,225.01
9.6 Period result	1,861,941,742.46
9.7 Profit appropriation	0.00
10. Total liabilities and Shareholders' equity	10,786,357,662.81
11. Net Asset Value	10,715,220,719.13
12. No of shares issued*	6,940,914,284
13. Net asset value per share	1.5437
14. Number of portfolio companies out of which:	34
14.1 Companies admitted to trading on a regulated market	3
14.1 Companies admitted to trading on an alternative regulated market***	4
14.3 Companies not admitted to trading	27

Legend:

* = Represents the number of shares related to the paid-up 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 (a) the Fund's own shares bought back (Treasury shares), according to provisions of CNVM Regulation no. 4/2010, as subsequently amended, and (b) the equivalent number of shares corresponding to the GDRs bought back

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

*** = Include the number of companies admitted to trading on AeRo market (alternative trading system)

Franklin Templeton International Services S.à r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Călin Meteș	Marius Nechifor
Permanent representative	Compliance Officer

BRD Groupe Societe Generale

Victor Strâmbei	Claudia Ionescu
Manager Depositary Department	Director

[English translation of the original report in Romanian - for information purposes only]

Annex - Valuation methods used for the securities and the monetary market instruments held by Fondul Proprietatea S.A. as at 30 August 2019

The valuation methods used for the computation of the NAV as at 30 August 2019, 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 AeRo market (alternative trading system) traded within last 30 trading days: Reference price - Average Price

3.   Listed companies with no trades within last 30 trading days:  Fair value / share;

4.   Unlisted companies: Fair value / share;

5.   Companies in insolvency, judicial reorganization, liquidation, dissolution or bankruptcy: Valued at zero;

6.   Unlisted companies for which the annual financial statements for the previous year are not available within 90 days after the legal submission deadline: Valued at zero;

7.   Treasury bills: Acquisition price cumulated with the accrued interest receivable calculated for the period elapsed since the date of acquisition;

8.   Listed government bonds: Fair value (reference composite price, including the cumulated interest);

9.   Bank deposits: Bank deposit amount cumulated with the accrued interest receivable calculated for the period elapsed since its creation date.

Franklin Templeton International Services S.à r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Călin Meteș Permanent Representative	Marius Nechifor Compliance Officer

[English translation of the original report in Romanian - for information purposes only]

Annex - Changes in the valuation methods used for the computation of the NAV of Fondul Proprietatea as at 30 August 2019

For the computation of the NAV as at 30 August 2018 for Fondul Proprietatea SA, the valuation method used for the investment in the company presented below changed:

Mecon SA

For this holding, the valuation method has been changed from Reference price - Average price (respectively Lei 19.00 /share) to Fair value (Last available trading price) (respectively Lei 19.00 /share) because the shares of this company were not traded during the last 30 trading days and the valuation based on the last available trading price is considered to reflect better the fair value of this holding than its shareholders' equity per share (respectively Lei 46.5190 /share). This change of valuation method did not have any impact on the Fund's NAV.

Franklin Templeton International Services S.à r.l acting in the capacity of Sole Director of Fondul Proprietatea SA

Călin Meteș	Marius Nechifor
Permanent representative	Compliance Officer

[English translation of the original report in Romanian - for information purposes only]

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