S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (November 2020)
19 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Nov 5, 2020
Slide 1: Fondul Proprietatea – General Shareholders Meeting
Fondul Proprietatea – 5 November 2020 General Shareholders Meeting This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use.
Slide 2: Fund Information
Fund Information This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use
Slide 3: The Fund – Key Facts
The Fund – Key Facts Fund Details1 RON USD NAV 9.91 bn 2.38 bn2 NAV/Share 1.5881 0.38162 Price/Share 1.2950 0.31122 Price/GDR 64.512 15.50 Market Capitalization as at 4 November 20203 8.14 bn 1.95 bn3 Discount/Share as at 4 November 2020 17.51% Discount/GDR as at 4 November 2020 17.68% Number of Pai
Slide 4: FP Market performance
FP Market performance FP Share Price (RON) and Discount (%) 1.4000 63% 1.0000 47% 0.6000 31% 0.2000 15% 1/11 8/11 2/12 9/12 3/13 10/13 4/14 11/14 5/15 12/15 6/16 1/17 7/17 2/18 8/18 3/19 9/19 4/20 10/20 Discount Adjusted Share Price Source: BVB, Bloomberg, for the period 25 January 2011 – 4 November
Slide 5: Portfolio
Portfolio This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use
Slide 6: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector By Controlling Ownership as at 30 September 2020 (% NAV)1 as at 30 September 2020 (% NAV)1 as at 30 June 20202 Power Utilities: Generation……....50% Oil & Gas.……….13% State Unlisted….…72% Power & Gas Utilities: Controlled Distribution & Entities………62%
Slide 7: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority 30 September 2020 as at Portfolio Company Status Shareholder % Stake1 (USD mn) 30 September 2020 Hidroelectrica Unlisted Romanian State 19.9% 1,131.1 47.5% OMV Petrom Listed OMV 7.0%2 319.0 13.4% Bucharest Airports Unlisted Romanian State 20.0% 176
Slide 8: Corporate Actions
Corporate Actions This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use
Slide 9: Distributions to shareholders
Distributions to shareholders Annual Distributions to Shareholders (RON mn) 1,124.3 552.7 507.7 1,499.0 1,778.5 923.6 1,190.8 1,743.7 1,870.6 1,081.3 1,485.0 25.4% 2000 18.3% 21.9% 17.5% 18.4% 1500 15.5% 583.1 1,121.5 14.8% 832.5 10.5% 813.2 1000 600.0 236.6 181.5 484.4 7.5% 362.6 344.7 257.5 8.1% 1
Slide 10: Buy-back programs
Buy – back programs No. of shares to be repurchased/ Average % of the Fund’s share price Cancellation Program Period Status issued share capital (RON/share) Broker of shares1 The cancellation of shares will 1 Jan – Auerbach Grayson, Eleventh Ongoing 800.0 mn/11.1% 1.32082 be subject to shareholders’
Slide 11: Ninth Tender Offer
Ninth Tender Offer Size of the Offer 165,000,000 shares, in the form of shares and GDRs Purchase price RON 1.39 per share and the USD equivalent of RON 69.50 per GDR Subscription period 12 November – 16 December 2020 Allocation method Pro-rata Intermediary Swiss Capital S.A. Dealer managers Swiss Ca
Slide 12: Fondul Proprietatea Tender Offers
Fondul Proprietatea Tender Offers FP pre-announcement Premium to pre- Announcement Tender price Discount of offer Take-up rate Tender Offer share price announcement date (RON/share) price to NAV (%)1 (%) (RON/share) share price (%) First 10 Oct 2013 1.0000 0.7770 28.70% 15.12% 78.42% Second 20 Oct 2
Slide 13: Annual dividend income – Top 10 portfolio companies
Annual dividend income – Top 10 portfolio companies Dividend Payout (%) FP Net Dividend (RON mn) Top 10 Holdings1 2015 2016 2017 2018 2019 2016 2017 2018 2019 2020 Hidroelectrica 80 90 90 90 90 134.6 206.6 226.2 358.7 250.0 OMV Petrom -2 94 46 38 48 -2 106.8 107.6 145.3 166.8 Bucharest Airports 75 9
Slide 14: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend (RON mn) 2013 2014 2015 2016 2017 2018 2019 2020 Total Dividends from Listed Companies (RON mn) 373.9 538.6 251.5 36.0 148.1 199.6 223.0 200.210 Total Dividends from Unlisted Companies (RON mn) 275.82 143.5 315.9 315.2 404.5 366.9 710.0
Slide 15: GSM agenda
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Slide 16: 13 November 2020 GSM agenda – Main points
13 November 2020 GSM agenda – Main points EGM agenda: • The approval of several amendments to the Change of the Constitutive Act • The approval of the twelfth buy-back programme OGM agenda: • The approval of 2021 budget • The appointment of two members in the Board of Nominees of Fondul Proprietatea
Slide 17: Disclaimer (I)
Disclaimer (I) 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
Slide 18: Disclaimer (II)
Disclaimer (II) The price of shares and income from them can go down as well as up and you may lose some or all of your capital invested. The previous results of a fund or company do not account for future performances. Currency fluctuations will affect the value of foreign investments. All investme
Slide 19: 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.
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