Market News


FONDUL PROPRIETATEA - FP

NAV as of 31 December 2021

Release Date: 1/14/2022 8:00:17 AM

IRIS Code: E0AEF

Fund Administrator:

Franklin Templeton International Services S.a r.l.

Administrator Code:

PJM07.1AFIASMDLUX0037

Fund:

Fondul Proprietatea SA

Fund Code:

PJR09SIIR/400006

Reporting date: 

31.12.2021

 

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

11,049,280,928.24

1.1. Intangible assets

0.00

1.2. Tangible assets

0.00

1.3. Financial assets

11,049,280,928.24

1.3.1 Listed shares**

10,252,347.13

1.3.2 Unlisted shares

11,039,028,581.11

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

2,643,542,571.01

2.1 Inventory

0.00

2.2 Receivables out of which:

108,828.94

- commercial papers

0.00

2.3 Cash

68,224,969.70

2.4 Short term financial investments

2,150,714,639.02

2.4.1 Listed shares**

2,150,714,639.02

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

77,106,529.11

2.7 Bank deposits

347,387,604.24

2.8 Certificates of deposits

0.00

2.9 Other current assets

0.00

3. Derivatives

0.00

4. Prepaid expenses

189,896.18

5. Total assets

13,693,013,395.43

6. Total liabilities

448,373,527.12

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

24,342,394.63

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

424,031,132.49

7. Provisions

0.00

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:

13,244,639,868.31

9.1 Share capital

3,334,342,422.84

9.2 Share capital premiums

0.00

9.3 Revaluation differences

-8,038.96

9.4 Reserves

335,341,761.47

9.5 Retained earnings

5,208,260,553.63

9.6 Period result

4,499,744,707.47

9.7 Profit appropriation

-133,041,538.14

10. Total liabilities and Shareholders’ equity

13,693,013,395.43

11. Net Asset Value

13,244,639,868.31

12. No of shares issued*

5,854,012,863

13. Net asset value per share

2.2624

14. Number of portfolio companies out of which:

32

14.1 Companies admitted to trading on a regulated market

2

14.1 Companies admitted to trading on an alternative regulated market***

4

14.3 Companies not admitted to trading

26

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.a r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA

 

Johan Meyer

Marius Nechifor

Permanent representative

Compliance Officer

 

BRD Groupe Societe Generale

 

Victor Strambei

Manager Depositary Department

 

 

Annex – Changes in the valuation methods used for the computation of the NAV of Fondul Proprietatea as at 31 December 2021

 For the computation of the NAV of Fondul Proprietatea SA as at 31 December 2021, the valuation method used for the valuation of holdings presented below remained the same, respectively Fair value / share (Value based on valuation report), but the valuation report was updated with the assistance of an independent valuer.

The total impact of the valuation update on the Fund’s NAV resulted in a net increase of RON 1,340,691,343.70 as detailed in the table below:

 

Company

Previous value per share

(RON/

share)

Previous value of the holding (RON)

Current value per share (RON/

share)

Current value of the holding (RON)

Impact of the valuation update on NAV (RON)

Impact of the valuation change on NAV %

Hidroelectrica SA

80.8773

7,233,497,163.71

95.3510

8,527,994,728.52

+1,294,497,564.81

+10.67%

CN Aeroporturi Bucuresti SA

205.8465

591,899,877.50

234.4682

674,199,944.41

+82,300,066.91

+0.68%

Engie Romania SA

252.6040

603,899,877.59

218.6390

522,699,820.02

-81,200,057.57

-0.67%

E-Distributie Banat SA

27.2540

251,299,431.58

26.5816

245,099,470.55

-6,199,961.03

-0.05%

CN Administratia Porturilor Maritime SA

99.3556

264,099,902.32

110.7546

294,399,903.39

+30,300,001.07

+0.25%

E-Distributie Muntenia SA

63.8128

207,799,746.67

63.4750

206,699,736.10

-1,100,010.57

-0.01%

Societatea Nationala a Sarii SA

90.8794

182,799,914.41

107.7329

216,699,988.10

+33,900,073.69

+0.28%

E-Distributie Dobrogea SA

27.9129

188,499,358.64

27.2466

183,999,750.12

-4,499,608.52

-0.04%

ENEL Energie SA

31.2500

52,500,000.00

36.3690

61,099,920.00

+8,599,920.00

+0.07%

ENEL Energie Muntenia SA

97.0602

43,099,970.05

74.5404

33,099,962.78

-10,000,007.27

-0.08%

Zirom SA

4.0113

30,253,557.54

3.4680

26,155,943.84

-4,097,613.70

-0.03%

CN Administratia Canalelor Navigabile SA

87.3781

17,751,734.80

77.9249

15,831,222.68

-1,920,512.12

-0.02%

Posta Romana SA

0.8808

13,099,210.92

0.9346

13,899,321.67

+800,110.75

+0.01%

Aeroportul International Timisoara - Traian Vuia SA

199.9000

6,399,998.40

174.9125

5,599,998.60

-799,999.80

-0.01%

CN Administratia Porturilor Dunarii Maritime SA

244.5669

5,193,867.26

190.1067

4,037,295.99

-1,156,571.27

-0.01%

Aeroportul International Mihail Kogalniceanu - Constanta SA

111.0410

2,571,598.52

72.5290

1,679,699.11

-891,899.41

-0.01%

CN Administratia Porturilor Dunarii Fluviale SA

84.7332

2,334,738.59

132.7966

3,659,077.52

+1,324,338.93

+0.01%

Plafar SA

14.5160

1,927,492.54

16.3634

2,172,797.71

+245,305.17

+0.00%

Complexul Energetic Oltenia SA

0.0000

0.00

0.0000

0.00

0.00

0.00%

Alcom

99.3112

8,863,425.29

105.9242

9,453,628.93

+590,203.64

+0.00%

Total

 

9,707,790,866.33

 

11,048,482,210.03

+1,340,691,343.70

+11.04%

Franklin Templeton International Services S.a r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA

 

Johan Meyer

Marius Nechifor

Permanent representative

Compliance Officer

 

 

 Annex - Valuation methods used for the securities and the monetary market instruments held by Fondul Proprietatea S.A. as at 31 December 2021

 

The valuation methods used for the computation of the NAV as at 31 December 2021, 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;
  3. Listed companies with no trades within last 30 trading days:  Fair value / share;
  4. Unlisted companies: Fair value / share (value based on valuation report prepared by an independent valuer);
  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. Listed government bonds: Fair value (reference composite price, including the cumulated interest);
  8. 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.a r.l., in its capacity of alternative investment fund manager of Fondul Proprietatea SA

 

Johan Meyer

Permanent Representative

 

Marius Nechifor

Compliance Officer

 

 

 

 

 

 



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