Templeton in the same boat as SIF bosses: Some FP shareholders ask for higher dividends

Fondul Proprietatea (Property Fund – FP) is now faced with the same problem as the SIFs, from which certain shareholders ask for higher dividends from the profits derived last year than proposed by managers.

Fondul Proprietatea officially announced that a shareholder that owns more than 5% in it had asked for dividends to be doubled to 432 million lei (in gross amount), accounting for 94% of the 2010 net profit. The Fund did not reveal the name of the shareholder. The Finance Ministry is the only shareholder that has more than 5% in FP.

The same shareholder also asked for Monica Maurer, former advisor to minister Adrian Videanu to be removed from the Representatives Board and a new member be elected.

The propositions have been put on the agenda of the General Meeting on April 27 and shareholders will be asked to vote on them. Neither the officials of the Finance Ministry nor those of Templeton could be reached for comment by the edition close.