English
The shareholders of the Proprietatea Fund will decide on the amendment of the articles of incorporation in order to transfer the management of the Fund to Franklin Templeton, as well as its listing on the Bucharest Stock Exchange this year, once the presidency passes the law concerning the emergency government decree 81/2007. The law for concerning the compensation procedures for buildings that were illegally confiscated yesterday passed the vote in the House of Deputies.
"We expect the law will be published in the Official Gazette, in the second half of July", the managing director of the Proprietatea Fund, , director general.
In the General Shareholder"s Meeting scheduled for "the end of August or the beginning of September" the Fund"s shareholders will also set the dividends for the years of 2008 and 2009.
In order to for Franklin Templeton to effectively take over the management of the fund and begin the procedure for its listing, it is necessary for the Government to pass a decree approving the articles of incorporation of the Proprietatea Fund, recently validated by the Romanian National Securities Commission (CNVM).
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