10th Sep 2020 16:27
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: 10 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 Societatea de Distributie a Energiei Electrice Muntenia Nord (SDMN) and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)
Electrica informs its shareholders and investors about the conclusion, on 9 September 2020, of two transactions between SDMN and EFSA, Electrica's subsidiaries, based on two services agreements without fix price, 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 9 September 2020 by SDMN, as services provider, with EFSA, as beneficiary, containing information about the date of execution, type of transactions, description of their scope, total value of the transactiosn, 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.
Chirf Executive Officer
Georgeta Corina Popescu
Annex 1: Details regarding the transactions concluded by SDMN with EFSA on 9 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Service provider: SDMN
Beneficiary: EFSA
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 | Payment due dates and payment methods |
SDMN and EFSA MN | 2630/1 Mar 2018, contract without fix price | Issuance of an invoice for re-invoicing common expenses (security services) | 2.378 | 1 March 2018 | N/A | 0 | 0.01% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 30 days from the date of the issuance of the invoice. |
SDMN and EFSA MN | R4990/31 Oct 2012, contract without fix price | Issuance of an invoice for IT services | 0.406 | 1 November 2012 | 31 December 2020 | 0 | 0.06% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 60 days from the registration date of the invoice by the beneficiary. |
Transactions total amount (RON th.): | 2.78 |
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Due and not due mutual receivables of SDMN from EFSA at 9.09.2020: RON 45,920.83 th.
Due and not due mutual debts of SDMN to EFSA at 9.09.2020: RON 782.56 th.
Annex 2: Details regarding the transactions concluded in the last 12 months between SDMN and EFSA 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 | Payment due dates and payment methods |
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Service provider: SDMN Beneficiary: EFSA | |||||||||
SDMN and EFSA MN | R102263 / 30 Mar 2016 Contract without fix price | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 1.09.2019 and 9.09.2020: 448,688.68
| 1 April 2016 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of receipt of the invoice. |
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Other services provided as a distribution operator - interventions in the distribution network | Amount between 1.09.2019 and 9.09.2020: 1,511.02 | Payment is made within 30 days from the date of issuance of the invoice |
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SDMN and EFSA TS | R106538/7 Jul 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 1.09.2019 and 9.09.2020: 1,645.41
| 1 August 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of issuance of the invoice. |
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R106673/11 Jul 2015 |
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R107111/27 Jul 2015 |
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R107203/28 Jul 2015 |
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R107421/31 Jul 2015 |
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R107426/31 Jul 2015 Contracts without fix price |
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SDMN and EFSA TN | R110808/05 Nov 2015 | Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator | Amount between 1.09.2019 and 9.09.2020: 383.69 | 1 December 2015 | N/A | 0 | 0.02% (penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 30 days of grace period | Payment is made within 10 working days from the date of issuance of the invoice. |
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R111559/25 Nov 2015 |
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R112463/15 Dec 2015 | 1 January 2016 |
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R112651/16 Dec 2015 |
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R112798/18 Dec 2015 |
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R112920/21 Dec 2015 Contracts without fix price |
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SDMN and EFSA MN | 102463/5 Mar 2019; AA2/4 Feb 2020 Contract with addendum which contains price/sqm and the rented area at the reporting date | Buildings rental services | Amount between 1.09.2019 and 9.09.2020: 2.52 Amount to be executed:EUR 1.78 | 1 March 2019 | 31 December 2023 | 0 | 0.02% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 30 days from the date of registration of the invoice by the beneficiary |
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SDMN and EFSA MN | 28/25 Jan 2008;AA2/4 Feb 2020 Contract with addendum which contains price/sqm and the rented area at the time of reporting | Buildings rental services | Amount between 1.09.2019 and 9.09.2020: 22.29 Amount to be executed:EUR 1.72 | 25 January 2008 | 31 December 2020 | 0 | 0.06% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 30 days from the date of registration of the invoice by the beneficiary |
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SDMN and EFSA MN | 554/16 Jan 2008; AA19/4 Feb 2020 Contract with addendum which contains price/sqm and the rented area at the time of reporting | Buildings rental services | Amount between 1.09.2019 and 9.09.2020: 33.24 Amount to be executed: EUR 2.36 | 1 January 2008 | 31 December 2020 | 0 | 0.06% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made until the 30th day of the current month |
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SDMN and EFSA MN | R102462/5 Mar 2019; AA 2/4 Feb 2020 Contract with addendum which contains price/sqm and the rented area at the time of reporting | Buildings rental services | Amount between 1.09.2019 and 9.09.2020: 15.40 Amount to be executed: EUR 10.08 | 1 March 2019 | 31 December 2023 | 0 | 0 | Payment is made within 30 days from the date of issuing the invoice |
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SDMN and EFSA MN | R102464/5 Mar 2019; AA 2/4 Feb 2020 Contract with addendum which contains price/sqm and the rented area at the time of reporting | Buildings rental services | Amount between 1.09.2019 and 9.09.2020: 46.51 Amount to be executed: EUR 31.44 | 1 March 2019 | 31 December 2023 | 0 | 0.02% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 30 days from the date of registration of the invoice by the beneficiary |
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SDMN and EFSA MN | 10335/1 Aug 2007 | Re-invoicing common expenses | Amount between 1.09.2019 and 9.09.2020: 203.17 | 1 August 2007 | 31 August 2021 | 0 | 0.01% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 30 days from the date of registration of the invoice by the beneficiary |
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2630/1 Mar 2018 | 28.66 | 1 March 2018 | N/A | Payment is made within 30 days from the date of issuance of the invoice |
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4914/20 Mar 2019; 17831/17 Feb 2020; 26497/10 Mar 2020 | 20.45 | 1 March 2019 1 February 2020 | 31 January 2021 | 0 |
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SDMN si EFSA | 2166/9 Jan 2020 Contracts without fix price | Re-invoicing common expenses (legal services fee) | Amount between 1.09.2019 and 9.09.2020: 3.87 | 1 January 2020 | 31 December 2020 | 0.01% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made in 7 days from the date of issuance of the invoice |
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SDMN and EFSA MN | 580/108/27 Sept 2007 Contract without fix price
| Optical fiber rental | Amount between 1.09.2019 and 9.09.2020: 25.50 | 1 August 2007 | 31 December 2020 | 0 | 0.001% of the unpaid amount, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). | Payment is made within 10 working days from the date of receipt of the invoice by the beneficiary. |
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Re-invoicing telecommunications services | 51.37 |
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Telecommunications services | 115.47 | Payment is made within 60 days from the date of registration of the invoice by the beneficiary. |
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SDMN and EFSA MN | R4990/31 Oct 2012 Contract without fix price | IT services | Amount between 1.09.2019 and 9.09.2020: 1,450.67 | 1 November 2012 | 31 December 2020 | 0 | 0.6% calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) | Payment is made within 60 days from the date of registration of the invoice by the beneficiary. |
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Re-invoicing IT services | Amount between 1.09.2019 and 9.09.2020: 378.04 | 0.04% calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive) |
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SDMN and EFSA | 21/15 Feb 2018 Contract without fix price | Balancing Market | Amount between 1.09.2019 and 9.09.2020: 9,083.52 | 1 February 2018 | 31 January 2021 | 0 | 0.01% penalty interest as a percentage of the interest due for non-payment on time of the contractual obligations, calculated for each day of delay starting with the 30th day after the due date until the day of payment | Payment is made within 3 working days from the date of receipt by email / fax |
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Provider/Seller: EFSA Beneficiary/Buyer: SDMN | |||||||||
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 |
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EFSA and SDMN | 21/15 Feb 2018 Contract without fix price | Representation service as the Party Responsible for Balancing | Amount between 1.09.2019 and 9.09.2020: 16,833.06 | 1 February 2018 | 31 January 2021 | 0 | Payment is made within 3 working days from the date of receipt by email / fax |
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EFSA and SDMN | 1219/12 Dec 2018; AA1 / 12 Dec 2019 | Electricity supply on the competitive market - active energy | Amount between 1.09.2019 and 9.09.2020: 11,392.76 Amount to be executed: 3,821.51 | 1 January 2019 | 31 December 2020 | 0 | 0.1%, penalty interest as a percentage of the interest due for non-payment on time of the contractual obligations, calculated for each day of delay starting with the first day after the due date until the day of payment (exclusive). There are 20 days of grace period. | Payment is made within 10 days from the date of issuing the invoice. |
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Electricity supply on the competitive market - reactive energy, green certificates, cogeneration, excise, with no fixed value | Amount between 1.09.2019 and 9.09.2020: 2,005.14 | There are 20 days of grace period. |
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Total amount executed in the last 12 months (RON th.): | 493,940.82 |
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Total remaining amount to be executed (RON th.): | 3,821.51 |
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Total remaining amount to be executed (EUR th.): | 47.38 |
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Due and not due mutual receivables of SDMN from EFSA at 9.09.2020: RON 45,920.83 th.
Due and not due mutual debts of SDMN to EFSA at 9.09.2020: RON 782.56 th.
Related Shares:
Electrica Regs