BUCHAREST - Fondul Proprietatea S.A., a Romanian investment fund, has announced its Ordinary General Meeting of Shareholders (OGMS) for the appointment of a new board nominee. The meeting is scheduled for December 2, 2024, with a second convening on December 3, 2024, if necessary, at the Radisson Blu Hotel in Bucharest, Romania.
The Board of Nominees has issued a guidance letter regarding the appointment of a board member following the end of Mr. Nicholas Paris's mandate on April 6, 2024. The new member's tenure will commence upon acceptance of the appointment by the OGMS.
The Board has reviewed the capabilities and experience of the candidates, emphasizing the importance of independence, expertise in closed-end investment funds, financial institutions, capital markets, and senior leadership roles. Mr. Paris, who is seeking reappointment, abstained from evaluating other candidates.
According to the Board's review, Mr. Paris is the only candidate with comprehensive experience in closed-end investment funds and corporate governance within investment companies. He also possesses international financial services experience. Other candidates, Mr. István Sárkány and Mr. Marian Cristian Mocanu, while not meeting all the specified experience criteria, have extensive backgrounds in securities investment and legal expertise, respectively.
The guidance letter is advisory and not binding for the shareholders' voting process. The Fund's Sole Director and the Board of Nominees will adhere to shareholders' decisions, in accordance with applicable laws and regulations.
Fondul Proprietatea is listed on the Bucharest Stock Exchange with shares and on the London Stock Exchange (LON:LSEG) with Global Depositary Receipts (GDRs). The information provided is based on a press release statement.
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