S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (March 2016)
11 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Mar 2, 2016
Slide 1: Fondul Proprietatea
2 March 2016 Fondul Proprietatea This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use.
Slide 2: Disclaimer
Disclaimer This presentation is made solely to the intended recipient and should not be distributed to, or acted upon by, any other person. It is for general information only and reflects the personal views of the presenter. Nothing herein is intended to constitute advice on investment, legal or tax
Slide 3: Background
Background • According to FSA Endorsement no. 1 issued on 7 January 2016, the Fund Manager was requested to present to the Fund’s shareholders the following: • Effects of the share buy-backs and return of capital on the discount level • Alternative investment strategies This material is intended sol
Slide 4: Effects of the Share Buy-backs on the Discount (I)
FUND INFORMATION 3 Effects of the Share Buy-backs on the Discount (I) FP Share Price1 (RON) and Discount (%) Start of the 3rd buy- Start of the 5th buy- back program back program Start of the 6th buy- Start of the 1st buy- End of the 1st buy- Start of the 4 buy- th back program back program back pro
Slide 5: Effects of the Share Buy-backs on the Discount (II)
Effects of the Share Buy-backs on the Discount (II) Average Discount - 3 Average Buy-Back Change in Period of the Buyback months before the Discount during Programs Discount start of the Program the Program First 11 May 2011 – 30 September 2011 63.3% 67.8% +4.5% Second 12 April 2013 – 17 December 20
Slide 6: Effects of the Return of Capital on the Discount (I)
FUND INFORMATION 5 Effects of the Return of Capital on the Discount (I) FP Share Price1 (RON) and Discount (%) Approval of the 1st Ex-date of the 1st Approval of the 2nd Ex-date of the 2nd Approval of the 3rd Return of Capital Return of Capital Return of Capital Return of Capital Return of Capital 0
Slide 7: Effects of the Return of Capital on the Discount (II)
Effects of the Return of Capital on the Discount (II) Average Discount - 30 Average Discount – Return of Change in Ex-Date days before the 30 days after the Capital Discount ex-date ex-date First 28 April 2014 40.2% 39.4% -0.8% Second 23 June 2015 31.4% 32.1% +0.7% Average 35.8% 35.8% -0.1% Source:
Slide 8: Investment and Performance Objectives – IPS (I)
Investment and Performance Objectives – IPS (I) • Investment Objective: the Fund’s investment objective is the maximization of returns and per share capital appreciation via investments mainly in Romanian equities and equity- linked securities • Performance Objectives: – Discount Objective: The disc
Slide 9: Investment and Performance Objectives – IPS (II)
Investment and Performance Objectives – IPS (II) • General Principles for Achieving the Objectives: Discount management techniques to meet the Performance Objectives may include (but are not limited to) the following: – Recommendation of buy-back programs of the Fund’s shares and GDRs – Reduction of
Slide 10: Alternative Investment Strategy
Alternative Investment Strategy • Once the Performance Objectives are met and the discount is reduced below the 15% level, the Fund Manager will consider making new investments if the expected returns from those investments are higher than the returns generated by buying back the Fund’s shares • In
Slide 11: Fondul Proprietatea contact details
Fondul Proprietatea Premium Point Buzesti Street 78-80, 1st District Bucharest 011017 www.fondulproprietatea.ro This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use.
Fondul Proprietatea — Shareholder Meeting (March 2016) on 6ix