S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (November 2010)
15 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Nov 29, 2010
Slide 1: Fondul Proprietatea General Shareholders Meeting
Fondul Proprietatea General Shareholders Meeting - November 29, 2010 Bucharest For Broker/Dealer Use Only. Not for Distribution to the Public
Slide 2: Fund Data
1 Fund Data FUND DETAILS AS OF OCTOBER 31, 2010 PORTFOLIO STRUCTURE Base currency RON Fund Launch Date December 28, 2005 Franklin Templeton Appointment Date September 29, 2010 Cash 10.6% VALUES CNVM NAV RON 13.5 billion Equity Other CNVM NAV/share RON 0.9792 * 88.7% 0.7% * From Dec/Jan. 2011, FP wil
Slide 3: Fondul Proprietatea: Top Industries
Fondul Proprietatea: Top Industries October 2010 0% 5% 10% 15% 20% 25% 30% 35% 40% Oil & Gas Power Utilitie s : ge ne ration Powe r Utilitie s: distribution & supply Gas Utilitie s: distribution & supply Infrastructure Other Data as of October 31, 2010 based on CNVM NAV calculation
Slide 4: OMV Petrom
3 OMV Petrom Sector: Integrated Oil & Gas Shareholders Structure Type: Listed OMV AG 51% Weight in NAV: 28.2% Ministry of Economy 21% FP stake: RON 3,800 mln. Fondul Proprietatea 20% OMV Petrom market share Others 8% 98% 100% 90% 80% 70% 60% 53% 50% 42% 40% 30% 20% 10% 5% 2% 0% 0% OMV Petrom Romgaz
Slide 5: Hidroelectrica
4 Hidroelectrica Sector: Electricity Producer Shareholders Structure Type: Unlisted Ministry of Economy 80% Weight in NAV: 18.3% Fondul Proprietatea 20% FP stake: RON 2,465 mln. Market share: 26.9% Installed capacity: 6,400 MW 35 30 25 20 Hidro- 15 electrica 10 RusHydro Main asset of the company is
Slide 6: Romgaz
5 Romgaz Sector: Gas Exploration & Production Shareholders Structure Type: Unlisted Ministry of Economy 85% Weight in NAV: 6.9% FP stake: RON 934 mln. Fondul Proprietatea 15% Market share 2009 (% of gas produced) Others 5% OMV Petrom 42% Romgaz 53% Data as of October 31, 2010 based on CNVM NAV calcu
Slide 7: CN Aeroporturi Bucuresti
6 CN Aeroporturi Bucuresti Sector: Airport management Shareholders Structure Type: Unlisted Ministry of Transport 80% Weight in NAV: 5.6% Fondul Proprietatea 20% FP stake: RON 754 mln. Market Share - Number of Passengers 100% 75% 64% 64% 63% 50% 25% 0% 2008 2009 2010F Number of passengers in 2009: 6
Slide 8: Nuclearelectrica
7 Nuclearelectrica Sector: Electricity generation Shareholders Structure Type: Unlisted Ministry of Economy 90% Weight in NAV: 3.9% FP stake: RON 529 mln. Fondul Proprietatea 10% Market Share - Generation 2009 50% 27% 21% 25% 11% 0% Hid Nu CE roe cle NT lec ar e urc tric le ctr eni a i ca Data as of
Slide 9: Investment Strategy
Investment Strategy Investment Philosophy • Strict adherence to the principles of value investing supported by the first- hand research and a long-term time horizon Investment Objective • Long-term capital appreciation via investments mainly in Romanian equity or equity-linked securities Investment
Slide 10: Active Supervision
Active Supervision Electra and Hidroenergetica – merger plan • Fondul Proprietatea decided to oppose the merger plan: lack of planning, high risk of execution • Litigation regarding Fondul’s stake in Nuclearelectrica and Complexul Energetic Craiova • Required actions: • IPO within 24 months • indepe
Slide 11: Budget 2011
10 Budget 2011 Mln RON REVISED Assumptions 2011 BUDGET BUDGET 2011 2010 • FX Rate: 4.2674 RON/€ INCOME FROM CURRENT ACTIVITY 299 277 • Interest rate: 7% EXPENSES FROM CURRENT ACTIVITY 92 78 • Dividend income received from GROSS PROFIT 207 199 portfolio companies at the same NET PROFIT 207 195 level
Slide 12: Dividend Payment Info
11 Dividend Payment Info Mln. RON Gross Collected % of Collected Shareholders Dividend Dividend Dividend Ministry of Finance 485 485 100% Individual Investors 449 416 93% Institutional Investors 190 145 76% TOTAL 1,124 1,047 93% * Information as of November 22, 2010. • The dividends paid in 2010 inc
Slide 13: Listing Timetable
Listing Timetable December 3, 2010 • Submission of the prospectus to CNVM for approval December 22, 2010 • Expected approval of the prospectus by CNVM December 23, 2010 • Submission of the approved prospectus to Bucharest Stock Exchange January 17, 2011 • Listing presentation for shareholders Januar
Slide 14: Disclaimer
13 Disclaimer The information contained in this piece is current as of its date, unless otherwise indicated, and is not a complete analysis of every material fact regarding the market, and any industry sector, a security, or a portfolio. Statements of fact cited by the manager have been obtained fro
Slide 15: Franklin Templeton Investment Management Limited
Franklin Templeton Investment Management Limited Premium Point 80 Buzesti Street, 1st District Bucharest 011017 Romania
Fondul Proprietatea — Shareholder Meeting (November 2010) on 6ix