17th Feb 2023 13:46
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, FSA Regulation no. 5/2018 on issuers of financial instruments and market operations, and the Bucharest Stock Exchange Code
Report date: 17 February 2023
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: J40/7425/2000
Subscribed and paid in share capital: RON 3,464,435,970
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)
Significant events to be reported: Transactions with related parties according to Art. 108 of Law No. 24/2017 concluded by Distributie Energie Electrica Romania SA (DEER), subsidiary of Societatea Energetica Electrica SA (Electrica) and Hidroelectrica
Electrica informs its shareholders and investors about the conclusion/execution, in the period 17 February 2022 - 16 February 2023 of some transactions between DEER, Electrica's subsidiary, and Hidroelectrica, whose cumulated value exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements at 30 June 2022, respectively exceeds the value of RON 199,059,726.
Details regarding these transactions, containing information about the date of execution, type of transaction, description of its scope, total value of the transaction, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates and methods are presented in the Annex below.
CFO
Stefan Frangulea
Annex: Details regarding the transactions concluded by DEER and Hidroelectrica between 17 February 2022 - 16 February 2023 of the kind listed in Art. 108 of Law No. 24/2017
Agreement Type and No., execution date | Scope of transactions | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties | Payment due dates and payment methods |
Provider: DEER Beneficiary: Hidroelectrica | |||||||
Agreement 19875/9Jun2021 (DEER - TN zone and Hidroelectrica) | Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network | 43,289.15 | 9 Jun 2021 | undetermined | 2,392.95 | See Note 1 | Payment is made in 10 working days from the date of receipt of the invoice |
Agreement 19875/9Jun2021 (DEER - TS zone and Hidroelectrica) | Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network | 37,077.14 | |||||
Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network - interventions in the distribution network (RED) | 0.36 | ||||||
Agreement 19875/9Jun2021 (DEER - MN zone and Hidroelectrica) | Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network | 41,113.15 | |||||
Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network - interventions in the distribution network (RED) | 2.17 | ||||||
Provider: Hidroelectrica Beneficiary: DEER | |||||||
DEER 2220/20Apr2022 | purchase of electricity through direct negocioation | 7,254 | 1 May 2022 | 31 May 2022 | N/A | See Note 2 | The invoice is issued in the first three working days of the month immediately following the month of delivery and will be paid at the latest on the 10th calendar day of the month following the month of delivery, and if this is a non-working day, the payment will be made on the immediate working day next; the invoice is considered paid on the date of payment registration in the seller's bank statement |
4,680 | 1 June 2022 | 30 June2022 | N/A | ||||
919.04 | 1 Jan 2022 | 31 Jan 2022 | 1,836.22 | ||||
DEER 2244/27.04.2022 | 19,344 | 1 May 2022 | 31 May 2022 | N/A | |||
DEER 2350/04May2022 | 13,650 | 7 May 2022 | 31 May 2022 | N/A | |||
DEER 2614/18May2022 | 2,160 | 1 June 2022 | 30 June 2022 | N/A | |||
DEER 2637/19May2022 | 3,240 | 1 June 2022 | 30 June 2022 | N/A | |||
DEER 2786/27May2022 | 9,669.60 | 1 June 2022 | 30 June 2022 | N/A | |||
DEER 2905/02Jun2022 | 2,275.20 | 7 June 2022 | 30 June 2022 | N/A | |||
DEER 3093/10Jun2022 | 2,938.80 | 1 July 2022 | 31 july 2022 | N/A | |||
DEER 3326/28Jun2022 | 744 | 1 Jan 2023 | 31 Jan 2023 | 894.21 | |||
DEER 3563/12Jul2022 | 744 | 1 Jan 2023 | 31 Jan 2023 | 894.21 | |||
DEER 3925/27Jul2022 | 1,127.16 | 1 Jan 2023 | 31 mar 2023 | 2,249.96 | |||
DEER 3924/27Jul2022 | 1,127.16 | 1 ian 2023 | 31 mar 2023 | 2,249.96 | |||
DEER 5180/07Oct2022 | 5,452.65 | 8 Oct 2022 | 31 Oct 2022 | N/A | |||
DEER 6543/16Dec2022 | 1,663.20 | 17 Dec 2022 | 31 Dec 2022 | N/A | |||
DEER 6617/20Dec2022 | 3,456 | 22 Dec 2022 | 31 Dec 2022 | N/A | |||
Agreement 3015/22Apr2005AD 1/2021 | providing the distribution service | 322.25 | 8 Apr 2005 | 31 Dec 2023 | N/A | See Note 3 | The client will pay the invoice within 10 working days from the date of its registration with the client |
Convention 103406/23Apr2015 | Common use and distribution of expenses for the following locations: - Hidroelectrica - Hidrocentrale Cluj Sub. (SH) - SSH Hidroserv- Cluj Branch - S Teletrans SA - Cluj Agency (TLT) - CN Transelectrica SA - DET Cluj (DET) - FDEE - SDEE Cluj | 22 | 29 Sep 2015 | N/A | N/A | See Note 4 | 15 days from issuing the invoice |
Reference 79158/12Apr2022 | CTE Hidroelectrica approval fee related to the documentation "Development of documentation for the construction works of the Alimentare objective with electrical en objective located in the Somesul Cald FN locality"
| 2.69 | 12 Apr 2022 | N/A | N/A | Immediately Payment Order | |
Reference 200335 /09Aug2022 | CTE Hidroelectrica approval fee related to the documentation "Modernization of LES M.T. from Floresti Station Distribuitor GHE Gilau I" | 2.69 | 9 Aug 2022 | N/A | N/A | Immediately Payment Order | |
Total executed amount during 17 February 2022 - 16 February 2023: RON 202,276.41 th
Due and not due mutual receivables of DEER from Hidroelectrica on 15 February 2023: RON 23,421.53 th.
Due and not due mutual debts of DEER to Hidroelectrica on 15 February 2023: RON 0 th.
Note 1: 0.02% (penalty interest as a percentage of the interest due for non-payment of obligations to the state budget on time), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusively). There is a 30 calendar day grace period.
Note 2: Non-payment of the amounts owed by the Buyer according to the payment deadlines additionally entails the payment of penal interest, as follows calculated for each day of delay, starting with the day immediately following the due date and up to the date of payment of the amount owed, including; the level of penal interest is 0.1% for each day of delay.
Note 3: In case of non-fulfilment within 30 days from the due date of the obligations, the client will pay, in addition to the amount due, a penalty corresponding to this amount as a percentage of the interest due for non-payment of the obligations on time to the state budget, for each day of delay compared to due date, until the day of payment (exclusively).
Note 4: If the invoice is not paid within 30 days from the due date, the penalty amount is 0.03% for each day of delay.
Related Shares:
Electrica Regs