REG - Soc EnergElectricaSA - Litigation: Final settlement of file 4469/62/2018

Societatea Energetica Electrica SAAnnouncement

11/08/2025 16:15

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RNS Number : 8590U  Societatea Energetica Electrica SA  11 August 2025

To:                              Bucharest Stock
Exchange (BSE)

                                    London
Stock Exchange (LSE)

                                    Romanian Financial
Supervisory Authority (FSA)

 

Current report in compliance with the Law 24/2017 on issuers of financial
instruments and market operations, FSA Regulation no. 5/2018, and the
Bucharest Stock Exchange Code

Report date: 11 August 2025

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1(st) District, Bucharest,
Romania

Phone/fax no.: 004-021-2085035

Fiscal Code: RO 13267221

Trade Register registration number: J2000007425408

Subscribed and paid in share capital: RON 3.395.530.040 lei

Regulated market where the issued securities are traded: Bucharest Stock
Exchange (BSE) and London Stock Exchange (LSE)

Significant events to be reported: Final settlement of file 4469/62/2018

 

Electrica informs shareholders and investors that, on 8 August 2025, the
Brasov Court of Appeal has definitively resolved file no. 4469/62/2018, which
has as its object the request of Distributie Energie Electrica Romania S.A.
(DEER) (formerly SDFEE Transilvania SUD S.A. (SDTS), a subsidiary of Electrica
SA) to order Electrica SA to pay the amount of RON 8,951,811 representing the
value of the services paid by SDTS and not performed by Electrica SA during
the period 2010-2014, based on the consultancy, mandate and service level
agreements concluded between the parties, as noted by the Court of Accounts
through Report no. 700 / 23618 / 04 December 2013 and Decision no. 75 / 23
December 2013 (for the period 2010-2012), respectively by the plaintiff as a
result of the extension of the verifications ordered by the Court of Accounts
(until 2014); • the legal interest calculated from the date of payment until
the date of effective refund; • the difference between the value of the
services paid by SDTS and not performed by Electrica SA and their value
updated with the inflation rate, for the period between the date of payment
and the date of the action; (i) mainly, following the finding of the absolute
nullity of the consultancy contracts no. C134/28.12.2009 and C18/13.01.2011,
of the mandate contracts no. C135/28.12.2009, C19/13.01.2011 and
C11/31.01.2012 and the service contracts no. C136/28.12.2009, C20/13.01.2011,
C13/31.01.2012 and C61/28.02.2014; (ii) in the alternative, following the
finding of the partial termination/termination of the Contracts; (iii)
thirdly, based on contractual liability; (iv) fourthly, on the basis of undue
payment; (v) fifthly, on the basis of unjust enrichment; - in the alternative,
the amount of RON 2,749,159, representing the damage composed of the profit
tax rate plus the dividend tax rate borne for the two shareholders of the
company, plus the part of dividends that would have gone to the other
shareholder of the amounts in question (i.e. to the shareholder Fondul
Proprietatea).

The resolution is the following:

Admits the appeal filed by the appellant plaintiff Distributie Energie
Electrica Romania SA, against the civil sentence no. 28/C of 6 February 2025
of the Brasov Court, which it partially quashes and re-examines: Obliges the
defendant to pay the legal penalty interest related to the amount of 8,951,811
lei, including VAT, starting with 21.12.2018 and until the effective payment
of the principal. Maintains the other provisions of the contested sentence.

Rejects the appeal filed by the appellant Societatea Energetica Electrica SA,
against the civil sentence no. 28/C of 6 February 2025 of the Brasov Court.
Obliges the respondent defendant to pay the amount of 15,000 lei, representing
partial legal costs in the appeal to the appellant plaintiff.

Previously, by judgment no. 28/C from 6 February 2025, the Brasov Court
rejected the exception of inadmissibility of the introductory action, invoked
by Electrica in response and partially admitted the request for summons filed
by the plaintiff DEER SA, obliging Electrica to pay to DEER the amount of
8,951,811 lei, including VAT, as the equivalent of the damage established on
the basis of contractual civil liability, as well as to pay the legal penalty
interest related to this amount, which will be calculated starting with the
date the decision becomes final and until the time of effective payment.

It also obliged Electrica to pay to the plaintiff the amount of 184,048.2 lei,
as legal costs, the plaintiff's request being rejected in the remainder.

We mention the fact that after the communication of the resolution pronounced
by the court of appeal, Electrica will analyse the admissibility of the
formulation of the extraordinary appeals.

Other details:

The legal penalty interest in the amount of RON 8,951,811, VAT included,
starting with 21 December 2018 and until 11 August 2025 is RON 4,905,469.80

Thus, the amount to be paid by Electrica SA to its subsidiary DEER is RON
14,056,329 at the date of this report, and the legal penalty interest will be
recalculated at the date of payment.

This amount has not been provisioned. It has no impact on the consolidated
financial statements of Electrica SA, but it does have an impact on the
standalone financial statements of Electrica SA.

We also specify that there is also a positive financial impact on the
financial statements of Electrica SA in 2025 of about RON 11.89 million from
the definitive earning, on 25 October 2024, of the file no. 2444/2/2021,
having as object the obligation of ANAF to prepare those corrective
administrative acts or operations that reflect Electrica's right to the refund
of the amount of RON 5,860,080 representing tax liabilities illegally revived
in the tax records, the amount paid by Electrica on 9 December 2020 in order
to access the tax facilities provided by GEO 69/2020, respectively Electrica's
right to the refund of the amount of RON 817,521 that was not subject to the
refund by payment made to ANAF on 22 September 2020, as well as the obligation
of ANAF to make the payment of the legal interest for the period 12 December
2016 - 21 September 2020, in the total amount of RON 5,161,491.64 (to which
are added the court costs in the amount of RON 49,083.27, awarded by the
court), so that the cumulative impact of these disputes on the individual
financial results will be immaterial.

 

Contact IR: ir@eleectrica.ro (mailto:ir@eleectrica.ro) ; +40731796111

 

CEO

Alexandru Aurelian CHIRITA

 

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