FONDUL PROPRIETATEA SA

  |  2013-04-26

Mark Mobius: Either public or private, the management of state companies has to be efficient

The statement has been uttered by Mark Mobius, executive president of Templeton Emerging Markets Group, following the recently-held general meeting of FP shareholders.

Also, on the naming of the new management at Nuclearelectrica, Greg Konieczny, the FP manager stated: “The delegate minister of energy decided to replace our representatives in the board of Nuclearelectrica by naming new members, all politically-related. In my opinion, this is a wrong decision especially before the start of initial public offering of the company. For us, this translates into a lack of interest for this transaction to be successful and the decision will surely negatively impact the offering price.”  

 

Also, regarding the secondary listing of the fund, Konieczny said: “The shareholders extended the mandate until December 2013 for the listing previously scheduled in June this year. We hope that, once the new Financial Supervision Authority is formed, we will receive a more solid trust that this transaction translates into long0term positive results for Romanian capital market. In our shareholders’ perspective, it should also have a positive impact on share pricing and help the initial investors of FP to reach a value of 1 Ron per share, a long-time waited value.”

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