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Litigation - DEER subsidiary

24th Mar 2025 16:00

RNS Number : 9311B
Societatea Energetica Electrica SA
24 March 2025
 

To: Romanian Financial Supervisory Authority (FSA)

Bucharest Stock Exchange (BSE)

London Stock Exchange (LSE)

Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, ASF Regulation no. 5/2018 on issuers of financial instruments and market operations, and the Bucharest Stock Exchange Code

Report date: 24 March 2025

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1st District, Bucharest, Romania

Phone/fax no.: 004-021-2085999/ 004-021-2085998

Fiscal Code: RO 13267221

Trade Register registration number: J2000007425408

Subscribed and paid in share capital: RON 3,395,530,040

Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)

 

Significant events to be reported: Insolvency request filed against the subsidiary DEER

Electrica informs shareholders and investors that, on 21 March 2025, a request for opening the insolvency procedure of the subsidiary Distributie Energie Electrica Romania S.A. (DEER) was filed with the Specialized Court of Cluj, case no. 167/1285/2025, for an amount of RON 2,609,916.06, which represents the value of 4 invoices of a sectoral execution contract (design and execution). Of these, only two invoices totaling RON 2,104,573.77 were due and were paid on 21 March 2025; the remaining amounts will become due on 28 March 2025, and 18 April 2025, respectively.

We mention that the insolvency procedure request was filed although the condition provided by art. 5 point 20 of Law no. 85/2014 on procedures concerning prevention of insolvency and insolvency was not fulfilled, specifically that the amounts must be overdue for more than 60 days. Consequently, DEER considers the request inadmissible.

 

CEO

Alexandru Chirita

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