25th Sep 2020 07:00
To: Romanian Financial Supervisory Authority (ASF)
Bucharest Stock Exchange (BVB)
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, and the Bucharest Stock Exchange Code
Report date: 24 September 2020
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 (BVB) and London Stock Exchange (LSE)
Significant events to be reported: Transactions with related parties according to Art. 923 para (12) of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Transelectrica S.A. (TEL)
Electrica informs its shareholders and investors about the conclusion, on 23 September 2020, of two transactions between EFSA, Electrica's subsidiary, and TEL, Electrica's related party, that have a value that, cumulated with the rest of the transactions concluded/executed in the last 12 months, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, respectively exceeds the value of RON 199,406,795.
Details regarding the transactions concluded on 23 September 2020 by EFSA, as buyer/seller, with TEL, as seller/buyer, 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 Annex 1.
Details regarding the transactions concluded in the last 12 months between the parties, which lead to exceeding, at a cumulative level, the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, are presented in Annex 2.
Chief Executive Officer
Georgeta Corina Popescu
Annex 1: Details regarding the transactions concluded by EFSA with TEL on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Parties of the transaction | Agreement Type and No., execution date | Scope of the agreement | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties (RON th.) | Payment due dates and payment methods |
Buyer: EFSA Seller: TEL | ||||||||
TEL and EFSA | Convention No. 207 / 26 Sept 2018 Contract without fix price | Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force. | 12,239 | 1 September 2018 | N/A | 13,575.05 | 0 | Payment is made within a maximum of 3 working days from receipt of the invoice |
Buyer: TEL Seller: EFSA | ||||||||
EFSA and TEL | Convention No. 207 / 26 Sept 2018 Contract without fix price | Sale and purchase of electricity between the parties, as a result of the production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force. | 3,632 | 1 September 2018 | N/A | 0 | 0 | Payment is made within a maximum of 3 working days from receipt of the invoice |
Total amount executed in the last 12 months (RON th.): | 15,871 |
| ||||||
Due and not due mutual receivables of EFSA to TEL at 22.09.2020 (RON th.): | 4,228.61 |
| ||||||
Due and not due mutual debts of EFSA to TEL at 22.09.2020 (RON th.): | 11,690.85 |
| ||||||
Annex 2: Details regarding the transactions concluded in the last 12 months by EFSA with TEL of the kind listed in Art. 923 of Law No. 24/2017
Parties of the transaction | Agreement Type and No., execution date | Scope of the agreement | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties (RON th.) | Payment due dates and payment methods |
Buyer: EFSA Seller: TEL | ||||||||
TEL and EFSA | Convention No. 416 / 20 Dec 2013 | Electricity transport | Amount in the last 12 months, at 24.09.2020: 277,741 | 20 December 2013 | 20 December 2023 | 22,600 | 0 | Payment is made within a maximum of 10 working days from receipt of the invoice, to which is added 5 days of grace. |
TEL and EFSA | Convention No. 207 / 26 Sept 2018 Contract without fix price | Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force. | Amount in the last 12 months, at 24.09.2020: 125,755 | 1 September 2018 | N/A | 13,575.05 | 0 | Payment is made within a maximum of 3 working days from receipt of the invoice |
Buyer: TEL Seller: EFSA | ||||||||
EFSA and TEL | Convention No. 207 / 26 Sept 2018 Contract without fix price | Sale and purchase of electricity between the parties, as a result of the production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force. | Amount in the last 12 months, at 24.09.2020: 13,472.68 | 1 September 2018 | N/A | 0 | 0 | Payment is made within a maximum of 3 working days from receipt of the invoice |
Total amount executed in the last 12 months (RON th.): | 416,968.84 |
| ||||||
Due and not due mutual receivables of EFSA to TEL at 22.09.2020 (RON th.): | 4,228.61 |
| ||||||
Due and not due mutual debts of EFSA to TEL at 22.09.2020 (RON th.): | 11,690.85 |
| ||||||
Related Shares:
Electrica Regs