REG - Soc EnergElectricaSA - Signing of SPA- energy production project from RES

Societatea Energetica Electrica SAAnnouncement

06/07/2022 12:15

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RNS Number : 5386R  Societatea Energetica Electrica SA  06 July 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, the Romanian Capital Market Law no.
297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 6 July 2022

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

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

Phone no.: 004-021-2085999

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:

Signing of sales and purchase agreement for the acquisition of shares in one
project company regarding the production of energy from renewable
(photovoltaic) sources - "Vulturu"

 

Electrica informs the shareholders and investors that, on 6 July 2022, signed,
as buyer, with Mr. Vlad-Mihai Ungureanu and Mr. Tudor-Nicolae Ungureanu, as
sellers, a shares sales and purchase agreement ("SPA") in one project company
having as main object of activity the production of energy from renewable
sources.

 

The SPA concerns the acquisition of 100% of the shares of Green Energy
Consultancy & Investments S.R.L., wholly owned by the sellers, for an
estimated total price of EUR 600,000. The final price will be determined by
adjusting the total estimated price depending on the production capacity,
based on a contractually established calculation formula. Green Energy
Consultancy & Investments S.R.L. develops the photovoltaic project
"Vulturu", with a designed installed capacity of 12 MWp DC (peak power at the
panels level) and 9.75 MW AC (power authorised for delivery into the grid),
located near Vulturu locality, Vrancea county.

 

The SPA stipulates the acquisition in the next period following the signing of
the sale and purchase agreement by Electrica of the company's shares and the
payment of the corresponding price in two steps, structured according to the
development stage of the project and the fulfillment of certain conditions
precedent.

 

The transaction in question is in line with 2019-2023 Electrica Group
strategy, which envisages the expansion in the value chain of electricity,
especially in the power production from renewable energy sources.

 

Chief Executive
Officer

Alexandru - Aurelian CHIRITA

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