The billion-RON Fondul Proprietatea dividends closer to being distributed

President Traian Basescu has promulgated the law that enables the distribution of profit of Fondul Proprietatea (Property Fund) for 2008 and 2009 and the direct listing of the fund on the Bucharest Stock Exchange (BSE).
This means the moment when dividends of over one billion RON will be paid out to the shareholders of the Fund is nearing.
On Friday, July 9, Emergency Ordinance 81/2007, which refers to the speeding up of the damage awarding process, has been promulgated by President Traian Basescu. The law will come into force after publication in the Official Gazette. Shortly after this occurs, the management of Fondul Proprietatea has committed to call a General Meeting of Shareholders in order to validate the new manager – UK-based Franklin Templeton, to decide on the amount of dividends and approve the floatation of the Fund on the BSE this year.