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Private shareholders have a share of 31.7% of the Proprietatea Fund
The number of shareholders natural persons of the Proprietatea Fund reached the number of 2,164 from 2,068 at the beginning of February,and their share increased by 1,1 percentage points up to 31.72% according to the data published by the institution.
At the latest reporting of the Fund, of February 11 2009, the number of shareholders natural persons was of 2,068 and their share was of 30.62% of the social capital of the Fund. The shareholders of the Proprietatea Fund included, at the end of February, 33 companies with over 686.3 million shares, the equivalent of 4.83% of the social capital of the Fund, the Fund announced. At the this moment, 2,131 shareholders natural persons had 26.90% of the capital. On February 28 2009, the ministry of economy and finances continued to be the biggest shareholder with 68.28% of the social capital of the Proprietatea Fund.
The Proprietatea Fund has a social capital of 14.24 billion lei, divided in 14.24 billion shares with a value of 1 leu each. The social capital subscribed and given is worth 13.652 billion lei, being indisposable at the the Central Depositary with a number of 587,994,583 shares of the Romanian state.
The Proprietatea Fund was created in 2005, as a solution for recompensating the former owners deprived of their property by the communist regime, to whom their properties could not be given as shuch.The Fund registered last year a gross result before taxation of 472.6 million lei, by 12.3% over the budgeted level and with 191.7% higher than the result of 2007. But after the registration of adjustments for the loss of value of the financial instruments ( guarantees and other instruments) worth 3.89 billion lei, the Fund reported a loss of 3.41 billion lei.
The Proprietatea Fund, undergoing a process of administrator selection drew on January 22 eight bids of administration from Aviva Investors Global Services, BlackRock, Credit Suisse & OTP, FINAG Holding Gmbh, Franklin Templeton Investments, ING Invest Management, Morgan Stanley and Julius Baer. In the meantime, the selection commission extended, for an unlimited period, the selection of an administrator for the Fund, to settle the future organization of the institution.