REG - Soc EnergElectricaSA - Entering shareholders of RO Central Counterparty

Societatea Energetica Electrica SAAnnouncement

09/12/2022 14:30

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RNS Number : 2661J  Societatea Energetica Electrica SA  09 December 2022

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 on issuers of
financial instruments and market operations, and the Bucharest Stock Exchange
Code

Report date: 9 December 2022

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

Headquarters: 9 Grigore Alexandrescu Street, 1(st) 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 (BSE) and London Stock Exchange (LSE)

Significant events to be reported: Entering the shareholding structure of
CCP.RO, following the subscription of 8% of the share capital

Electrica informs shareholders and investors that, following the approval of
the Board of Directors, it has submitted the Binding Offer regarding the
subscription of 700,000 shares in CCP.RO BUCHAREST S.A. (Central Counterparty
or CCP.RO), with a nominal value of RON 10/share, and on 8 December 2022, the
actual subscription was made, in the amount of  RON 7 million, so that,
following the subscription, Electrica will own 8.06% of the share capital of
CCP.RO.

CCP.RO will fulfill the role of central counterparty for the transactions
concluded on the markets served, respectively on financial instruments
markets, including derivative financial instruments, administered by the
Bucharest Stock Exchange (BVB) and on the markets organized for the trading of
electricity administered by the Romanian Electricity and Gas Market Operator
OPCOM (OPCOM) (significant shareholder of CCP.RO - with 19.06% stake).

The Central Counterparty is a central financial infrastructure that intervenes
between the parties of a transaction, becoming the buyer for each seller,
respectively the seller for each buyer, guaranteeing the completion of the
settlement of the transaction by applying specific mechanisms for risk
management. The main objective is to increase liquidity on the local capital
market, by launching a derivatives market on shares and indices that will also
enhance the spot market. In the first stage, CCP.RO aims to launch
asset-backed futures contracts on shares and stock indices - with cash
settlement, futures contracts with asset-backed electricity - with cash
settlement and physical delivery option, as well as forward contracts for
electricity. The launch of derivatives on the energy market will allow a
better management of market risks for all participants.

Electrica expresses its strategic interest in the development of the
derivatives market on the energy market to manage the risk of the increase in
the price of electricity for the supply segment, with the possibility of
subsequent interest also for the distribution segment, in order to limit the
increase in the price of electricity to cover the NL (Network Loses).

By entering the shareholding structure of CPP.RO with a participation of
8.06%, Electrica aims to be an active member in defining the company's
strategy and direction, respectively in setting the corporate governance,
methodologies, and corresponding risk management policies, thus contributing
to market development, the stability of the financial system and the reduction
of credit and counterparty risks in the energy market.

 

CEO

Alexandru - Aurelian Chirita

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