S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (February 2017)
21 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Feb 28, 2017
Slide 1: Fondul Proprietatea General Shareholders Meeting
28 February 2017 Fondul Proprietatea General Shareholders Meeting
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: Fund Information
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Slide 4: The Fund – Key Facts
The Fund – Key Facts RON USD Fund Details1 31 October 31 January 31 October 31 January Change Change 2016 2017 20162 20172 NAV 11.05 bn 11.61 bn 5.1% 2.69 bn 2.76 bn 2.6% NAV/Share 1.1419 1.2082 5.8% 0.2776 0.2872 3.5% Price/Share 0.8060 0.8870 10.0% 0.1960 0.2108 7.6% Price/GDR 41.75 44.39 6.3% 10.
Slide 5: FP Market Performance
FUND INFORMATION 4 FP Market Performance FP Share Price1 (RON) and Discount (%) 0.8500 66% 0.6500 49% 0.4500 32% 0.2500 15% 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 7/15 1/16 7/16 1/17 Discount Share Price RON BVB LSE Discount2 24.27% 23.14% Average Daily Turnover (USD) 1.40 mn3 1.31 mn4 1. Sour
Slide 6: NAV, Share Price and GDR Performance
NAV, Share Price and GDR Performance Cumulative Performance Since 2011 2012 2013 2014 2015 2016 YTD Performance Inception1 NAV (RON) (0.47)% 8.91% 13.29% 1.39% (0.60)% 7.33% 1.83% 35.27% Ordinary Share (30.32)% 38.30% 61.34% 14.53% (4.06)% 4.90% 11.57% 99.96% Price (RON) GDR (USD) N/A N/A N/A N/A N/
Slide 7: Portfolio
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Slide 8: Portfolio Structure – Listed vs. Unlisted
FONDUL PROPRIETATEA 7 Portfolio Structure – Listed vs. Unlisted Listed Companies Unlisted Companies (% of NAV as at 30 December 2016) (% of NAV as at 30 December 2016) 0.36% 0.61% OMV Petrom 1.58% 0.86% 0.75% 1.89% Hidroelectrica BRD GSG ENEL companies 1.15% 3.97% Electrica companies 2.64% Nuclearel
Slide 9: Hidroelectrica – Update
FONDUL PROPRIETATEA 8 Hidroelectrica – Update Pre-tax cumulated profit (RON mn) • Corporate Governance: Following the exit from insolvency in June 2016, the company is run by an interim Supervisory 1,510 Board of 7 members, and an interim Directorate of 3 members. Selection of the Supervisory Board
Slide 10: OMV Petrom – Update
APPENDIX I 9 OMV Petrom – Update OMV Petrom - Share Price Performance % in USD1 FP Announcement of the SPO and LSE listing 140 105 70 1/16 2/16 3/16 4/16 5/16 6/16 7/16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 OMV Petrom Brent Oil Emerging Markets Oil and Gas Index MOL OMV OMV Petrom - Average Daily Tr
Slide 11: Portfolio Holdings – Preliminary 2016 Results
Portfolio Holdings – Preliminary 2016 Results EBITDA Net Profit (RON mn) (RON mn) Preliminary Preliminary 2015 2015 2016 2016 Hidroelectrica SA 2,100.2 2,166.0 899.4 1,268.0 OMV Petrom SA 6,231.0 4,933.0 (689.7) 1,037.7 Aeroporturi Bucuresti SA (Bucharest Airports) 331.7 387.7 178.8 232.5 BRD Groupe
Slide 12: Corporate Actions
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Slide 13: Fourth Tender Offer
Fourth Tender Offer1 Value of the Offer 640,000,000 shares (in the form of shares and GDRs) Purchase price RON 0.91 per share and the USD equivalent of RON 45.50 per GDR Subscription period 15 February – 20 March 2017 Allocation method Pro-rata Intermediary WOOD & Company Financial Services a.s Deal
Slide 14: 2017 Cash Distributions
FUND INFORMATION 13 2017 Cash Distributions Cash Distributions to Shareholders (RON) Last Date to Buy FP Cash 1 Shares that Entitles Registration Status Payment Date Distribution Shareholders to Receive Date Per Share Distributions Special Approved by Distribution – shareholders on 11 27 March 2017
Slide 15: Cash Distributions to Shareholders
Cash Distributions to Shareholders Cash Distributions to Shareholders (RON) Gross Cash Financial Net Cash Distribution % Change Year Paid In Distribution Year Per Share1 on Year Per Share Dividend 2008-2009 (aggregate) 2010 0.08160 0.06854 - Dividend 2010 2011 0.03141 0.02638 - Dividend 2011 2012 0.
Slide 16: Nominal Share Value vs. Share Price
Nominal Share Value vs. Share Price Difference between Nominal Value & Share Price 67.2% 7.1% 91.7% 63.4% 29.1% 70.3% 97.3% 363.00 33.70 14.10 11.98 10.00 10.00 10.00 2.74 0.10 0.30 0.85 0.92 1.00 1.00 OMV Petrom FP BRD Banca Electrica Transelectrica Transgaz Transilvania Nominal share value (RON) S
Slide 17: FP Nominal Share Value vs. FP Share Price
FP Nominal Share Value vs. FP Share Price FP Nominal Share Value (RON) 1.0000 - 48.0% 0.8500 0.5200 25 Jan 2011 27 Feb 2017 Nominal share value subject to shareholders' approval and FSA endorsements FP Share Price (RON) +117.8% 0.9150 0.4201 25 Jan 2011 27 Feb 2017 Source: Bloomberg, BVB, Investment
Slide 18: FP Share Price Returns Since Listing
APPENDIX IV 17 FP Share Price Returns Since Listing FP Share price return BET Total return 1-Yr Deposit rate return (RON)2 (RON) (RON) Returns on RON 1,000 Investment1 2,034 1,350 1,254 Total Return 103% 35% 25% 2,100 1,600 1,100 600 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 5/14 9/14 1/15 5
Slide 19: EGM Agenda
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Slide 20: 28 February EGM Agenda
FUND INFORMATION 19 28 February EGM Agenda • The approval of the decrease of the subscribed share capital of Fondul Proprietatea S.A. from RON 5,742,226,025.22 to RON 5,238,521,987.92 through the reduction of the par value of the shares of Fondul Proprietatea S.A. from RON 0.57 to RON 0.52. • The ra
Slide 21: Fondul Proprietatea contact details
Fondul Proprietatea Premium Point Buzesti Street 78-80, 1st District Bucharest 011017 www.fondulproprietatea.ro
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