Fondul Proprietatea (Property Fund - FP) shareholders madehistory yesterday, with the day of September 6 set to remain thedate when FP, the most valuable company in the economy, wastransferred from domestic management into the hands of aninternationally renowned manager, Franklin Templeton. The 1.1bn RONdividends, among the biggest rewards paid by a Romanian company,are also linked to the importance of the moment.
Convened to approve the appointment of Franklin TempletonBritish firm as the sole manager of FP, over 200 shareholders,accounting for above 70% in voting rights, yesterday attended theGeneral Meeting. It is not just the number of attendingshareholders that was a first, but also their quality.
As previously announced, the top objective for Franklin Templetonis to start distribution of the 1.1bn RON dividends overdue inOctober, with listing on the Bucharest Stock Exchange comingsecond, an event most likely to take place early next year.
About floatation on the London Stock Exchange, Mark Mobius, one ofthe most influential professionals on financial markets, andexecutive chairman of Franklin Templeton, stated it would mostlikely take place in late 2011.
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