Fondul Proprietatea announced its seven buy back program, of 640 million shares, at 0.91 lei (RON) per share.

”Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager (“the Investment Manager”) of Fondul Proprietatea SA (“the Fund”), would

like to inform shareholders that the Financial Supervisory Authority approved on 8 February 2017 the Fund’s application for a public tender offer in relation to the acceleration of the seventh buy-back programme”, shows a release.

The main details of the offer include a value of ”up to 640 million shares in the form of

shares and/or global depositary receipts which represent the shares (“GDR”); Purchase price: RON 0.91 per share and the USD equivalent of RON 45.50 per GDR, computed in accordance with the terms

and conditions of the tender offer documentation”.

The subscription period is of 15 February– 20 March 2017. The allocation method will be pro-rata.

The intermediary is WOOD & Company Financial Services, also a dealing manager, together with Goldman Sachs International. The GDR tender agent will be The Bank of New York Mellon.