15th Sep 2020 15:14
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: 15 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 Transilvania Nord (SDTN) and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)
Electrica informs its shareholders and investors about the conclusion, in the period 11 and 15 September 2020, of three transactions between SDTN and EFSA, Electrica's subsidiaries, based on several 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 in the period 11-15 September 2020 by SDTN, 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 transactions, 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, have been presented in the Current Report issued on 11 September 2020 (IRIS Code (BSE) CB6E5, respectively RNS Code (LSE) 8107Y).
Chirf Executive Officer
Georgeta Corina Popescu
Annex 1: Details regarding the transactions concluded between SDTN with EFSA in the period 11-15 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 | Payment due dates and payment methods |
Service provider: SDTN Beneficiary: EFSA | ||||||||
SDTN and EFSA MN | Electricity distribution service agreement no. 425/SM / 23 Dec 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 - Other services provided as a distribution operator | 0.55 | 1 January 2016 | N/A | 0 | Penalty interest on this amount, 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). The total amount of penalty interest may not exceed the amount due. There are 30 days of grace period (Percentage valid at the date of reporting: 0.02%) | The issuing of the invoice with the amount for the contractual month ended is made in the first 10 working days of the month following each contractual month. Payment is made within 10 working days from the date of receipt of the invoice |
SDTN and EFSA TN | Electricity distribution service agreement no. 103/ 10 Mar 2016 | 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 - Other services provided as a distribution operator - interventions in the distribution network | 1.82 | 1 April 2016 | N/A | 0 | Penalty interest on this amount, 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). The total amount of penalty interest may not exceed the amount due. There are 30 days of grace period (Percentage valid at the date of reporting: 0.02%) | The issuing of the invoice with the amount for the for the contractual month ended is made in the first 10 working days of the month following each contractual month. Payment is made within 10 working days from the date of issuing the invoice. |
Service provider: EFSA Beneficiary: SDTN | ||||||||
EFSA and SDTN | 885/31 Dec 2015 | Buildings rental services | 3.76 | 1 January 2016 | 31 December 2023 | 0 | 0 | Payment is made within 10 days from the date of registration of the invoice to the tenant. |
Transactions total amount (RON th.): | 6.13 | |||||||
Due and not due mutual debts of EFSA to SDTN at 11.09.2020: RON 77,891.93 th.
Due and not due mutual debts of SDTN to EFSA at 11.09.2020: RON 596.73 th.
Related Shares:
Electrica Regs