Steven van Groningen resigns from the committee of representatives of Fondul Proprietatea

Franklin Templeton International Services as sole administrator of Fondul Proprietatea announced that Mr Steven van Groningen had decided to step down from his duties on the Board of Nominees and the Advisory Committees of the Fund with effect from 13 November 2020.

The appointment of a new member of the Committee will be on the agenda of the next general meeting of the Fund's shareholders.

Mr van Groningen's decision stems from his desire to comply with the strict corporate governance standards of the London Stock Exchange, where Fondul Proprietatea is listed secondarily, which provides that board members of listed companies can no longer be considered independent after a nine years of activity in that position. In view of the fact that three of the members of the Committee will hold this position for a period of nine years in 2021 and in order to avoid significant changes in the composition of the Committee in a short time, Mr van Groningen took this decision, taking into account the interests of the Fund.