REG - Soc EnergElectricaSA - Resolution of EFSA Litigation - Case 1927/2/2019

Societatea Energetica Electrica SAAnnouncement

16/05/2024 14:30

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RNS Number : 7772O  Societatea Energetica Electrica SA  16 May 2024

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, the Romanian Capital Market Law no.
297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 16 May 2024

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

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

Phone/fax no.: 004-021-208035/004-021-2085998

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: Settlement of case Electrica Furnizare file
1927/2/2019, Bucharest Court of Appeal

Electrica informs shareholders and investors that, on 08.05.2024, the
Bucharest Court of Appeal resolved in the first instance file no. 1927/2/2019,
by rejecting the action as unfounded.

Detailed information on this file was presented to shareholders through the
current report published on August 18, 2023 (see current report BSE:IRIS code
29DB6
(https://www.bvb.ro/FinancialInstruments/SelectedData/NewsItem/EL-Litigiu-EFSA-Dosar-nr-1927-2-2019/29DB6)
and LSE:RNS code 8229J
(https://www.londonstockexchange.com/news-article/ELSA/efsa-litigation-case-no-1927-2-2019/16090388)
).

The complete resolution of the court: "It rejects the exception of lack of
interest invoked by E.ON Energie Romania SA, the exception of inadmissibility,
the exception of  lack of interest, the exception of remaining without
object, the exception of the res judicata authority invoked by Electrica
Furnizare SA, as unfounded. Reject the action as unfounded. The decision can
be appealed within 15 days from the communication."

We remind investors that the object of the court file no. 1927/2/2019 is the
request submitted by SPEEH Hidroelectrica S.A. against ANRE, EFSA having the
quality of intervener (at ANRE's request, together with the other last resort
suppliers in Romania), through which SPEEH Hidroelectrica S.A. requested:

i.          the partial annulment of the ANRE President's Decision
no. 324/25.02.2019 regarding the establishment of regulated prices for
delivered electricity and quantities of electricity sold based on regulated
contracts between 1 March 2019 and 31 December 2019 by SPEEH Hidroelectrica
S.A.;

ii.         issuing a Decision approving the regulated price for the
electricity sold by SPEEH Hidroelectrica, between 1 March 2019 and 31 December
2019, based on regulated contracts concluded with suppliers of last resort in
compliance with legal provisions;

iii.        the payment to Hidroelectrica of the amounts representing
the damage suffered as a result of the effects of the ANRE President's
Decision no. 324/25.02.2019, the amount to which is added the legal interest
related to the loss suffered, damage related to the period 1 March 2019 to 31
December 2019.

 

Contact details: Electrica Investor Relations - ir@electrica.ro
(mailto:ir@electrica.ro)  ; +40731796111

Head of Legal

Stefania Andruhovici

 

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