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 between electricity distribution companies and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)
Electrica informs its shareholders and investors about the conclusion, on 23 September 2020, of 5 transactions between electricity distribution companies and EFSA, Electrica's subsidiaries, based on 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 23 September 2020 by electricity distribution companies, as services providers/beneficiaries, with EFSA, as beneficiary/service provider, 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.
Chief Executive Officer
Georgeta Corina Popescu
Annex 1
Details regarding the transactions concluded by SDMN with EFSA on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Services provider: SDMN
Beneficiary: EFSA
Parties of the transaction | Agreement Type and No., execution date | Scope of the transactions | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties | Payment due dates and payment methods |
SDMN and EFSA | 21/15 Feb 2018 Contract without fix price | Balancing Market | 453.55 | 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 |
Transactions total amount (RON th.): | 453.55 | |||||||
Due and not due mutual debts of EFSA to SDMN at 22.09.2020 (RON th.): | 94,844.11 |
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Due and not due mutual debts of SDMN to EFSA at 22.09.2020 (RON th.): | 1,037.43 |
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Annex 1
Details regarding the transactions concluded by SDTN with EFSA on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Services provider: SDTN
Beneficiary: EFSA
Parties of the transaction | Agreement Type and No., execution date | Scope of the transactions | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties | Payment due dates and payment methods |
SDTN and EFSA | 22/15 Feb 2018 and Concession contract 61/4 Apr 2018 Contract without fix price | Providing representation service as the Party Responsible for Balancing | 83.29 | 27 February 2018 | 31 December 2020, with the possibility of extension without completing any formality, for periods of 12 months, if neither party requests the cancellation of the contract at least 30 days before the expiration of its duration | 0 | Interest due for not paying the obligations to the state budget in due time, applied starting with the first day after the due date; (Percentage valid at the date of reporting: 0.02%)
If the provider fails to fulfill its obligations under the contract, the purchaser has the right to deduct from the tariff established by the contract, as penalties, an amount equivalent to a percentage of 1.5% of the monthly tariff | Payment is made within 3 working days from the date of receipt of the invoice |
Transactions total amount (RON th.): | 83.29 | |||||||
Due and not due mutual debts of EFSA to SDMN at 22.09.2020 (RON th.): | 77,775.46 |
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Due and not due mutual debts of SDMN to EFSA at 22.09.2020 (RON th.): | 1,094.20 |
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Details regarding the transactions concluded by EFSA with Societatea de Distributie a Energiei Electrice Muntenia Nord (SDMN), Societatea de Distributie a Energiei Electrice Transilvania Nord (SDTN) and Societatea de Distributie a Energiei Electrice Transilvania Sud (SDTS) on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017
Services provider: EFSA
Beneficiary: SDMN, SDTN, SDTS
Parties of the transaction | Agreement Type and No., execution date | Scope of the transactions | Amount (RON th.) | Date of entry into force | Expiry date | Guarantees (RON th.) | Penalties | Payment due dates and payment methods |
EFSA and SDMN | 21/15 Feb 2018 Contract without fix price | Representation service as the Party Responsible for Balancing | 116.38 | 1 February 2018 | 31 January 2021 | 0 | 0 | Payment is made within 3 working days from the date of receipt by email / fax |
EFSA and SDTN | 22/15 Feb 2018 Contract without fix price | Representation service as the Party Responsible for Balancing | 338.55 | 1 January 2018 | 31 December 2020 | 0 | 0 | Payment is made within 3 working days from the date of receipt of the invoice |
EFSA and SDTS | 23/15 Feb 2018 Contracts without fix price | Providing representation service as Balancing Responsible Party | 47.44 | 1 February 2018 | 31 January 2021 | 0 | 0 | Payment is made within 3 working days from the date of receipt of the invoice |
Transactions total amount (RON th.): | 502.37 | |||||||
Due and not due mutual debts of EFSA to SDTS at 22.09.2020 (RON th.): | 35,640.58 |
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Due and not due mutual debts of SDTS to EFSA at 22.09.2020 (RON th.): | 692.22 |
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Related Shares:
Electrica Regs