BUCHAREST - Fondul Proprietatea S.A., a Romanian investment fund, has announced the convening of its Extraordinary and Ordinary General Shareholders' Meetings scheduled for December 2, 2024, according to a recent statement. The meetings, set to take place at the Radisson Blu Hotel in Bucharest, will address several key items including the appointment of a new board nominee following the expiration of Mr. Nicholas Paris's mandate in April.
The fund, managed by Franklin Templeton International Services S.À R.L., has recommended voting in favor of all items on the Extraordinary General Meeting (EGM) agenda. However, for the Ordinary General Meeting (OGM), the fund manager has abstained from making a voting recommendation on the appointment of the Board of Nominees, encouraging shareholders to review the list of candidates and related information available on the fund's website.
Three candidates have been proposed for the board position: Mr. István Sárkány, nominated by Mr. Mihai Sebea; Mr. Marian-Cristian Mocanu, who nominated himself; and Mr. Nicholas Paris, proposed by LCL Grup SRL. The fund manager has recommended affirmative votes for the remaining items on the OGM agenda.
The fund has emphasized that its manager's voting recommendations are not binding and should not be considered as supporting documentation for substantiating votes. The manager has committed to implementing and complying with all decisions taken by the shareholders, subject to legal and regulatory compliance.
The shareholder meetings will only proceed on December 2 if the statutory quorum requirements are met. If not, a second convening is scheduled for the following day, December 3, with the same agenda.
Fondul Proprietatea, traded on the Bucharest Stock Exchange and with Global Depositary Receipts on the London Stock Exchange (LON:LSEG), has not received any requests to supplement the EGM or OGM agendas since the deadline for proposing new items expired on November 11.
This report is based on a press release statement issued by Fondul Proprietatea S.A. and provides shareholders with essential information ahead of the upcoming meetings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.