President Traian Basescu has promulgated the law that enablesthe distribution of profit of Fondul Proprietatea (Property Fund)for 2008 and 2009 and the direct listing of the fund on theBucharest Stock Exchange (BSE).
This means the moment when dividends of over one billion RON willbe paid out to the shareholders of the Fund is nearing.
On Friday, July 9, Emergency Ordinance 81/2007, which refers to thespeeding up of the damage awarding process, has been promulgated byPresident Traian Basescu. The law will come into force afterpublication in the Official Gazette. Shortly after this occurs, themanagement of Fondul Proprietatea has committed to call a GeneralMeeting of Shareholders in order to validate the new manager -UK-based Franklin Templeton, to decide on the amount of dividendsand approve the floatation of the Fund on the BSE this year.
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