REG - Soc EnergElectricaSA - Transactions related parties - EFSA and TEL

Societatea Energetica Electrica SAAnnouncement

23/04/2021 07:00

RNS Number : 3735W
  
Societatea Energetica Electrica SA
  
22 April 2021
  
 

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:  22 April 2021
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 by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Transelectrica S.A. (TEL) 
Electrica informs its shareholders and investors about the conclusion, on 21 April 2021, of one transaction between EFSA, Electrica's subsidiary, and TEL, that have a value that, cumulated with the rest of the transactions concluded/executed in the period 1 January - 21 April 2021, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2020, respectively exceeds the value of RON 202,466,778.
Details regarding the transaction concluded on 21 April 2021 by EFSA with TEL, containing information about the date of execution, type of transaction, description of its scope, total value of the transaction, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates and methods are presented in Annex 1.
Details regarding the rest of the transactions already concluded in the period 1 January - 21 April 2021, which, individually or cumulatively, did not meet the requirement provided in art. 923 para. (3) of Law no. 24/2017, but which cumulated with the transaction presented in Annex 1 lead to exceeding the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2020, are presented in Annex 2.
 
Chief Executive Officer                                              
Georgeta Corina Popescu                                           




Annex 1: Details regarding the transaction concluded by EFSA with TEL on 21 April of the kind listed in Art. 923 of Law No. 24/2017
 



Agreement Type and No., execution date


Scope of the agreement


Amount (RON th.)


Invoice number/ date


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties (RON th.)


Payment due dates and payment methods




Buyer: EFSA
Provider: TEL




Convention No. 275 / 19 Oct 2020


Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force


16,782.82


570/ 21.04.2021


1 September 2020


Undetermined until its termination by any of the parties 


10,583


In case of non-payment of invoices on time, PRE / Transelectrica pays a penalty equal to an additional amount compared to the amount due to be paid and includes interest accrued for any amounts due and unpaid, calculated as a percentage of the delay penalty charged for non-payment of obligations to the state budget, starting with the day following the deadline on which the payments should have been made and ending with the day preceding the day on which the outstanding amounts were actually paid


Payment is made within a maximum of 5 working days from issuing date of the invoice



 
Due and not due mutual receivables of EFSA to TEL at 20.04.2021: RON 0.01 th.
Due and not due mutual debts of EFSA to TEL at 20.04.2021: RON 0 th.



Annex 2: Details regarding the transactions concluded by EFSA with TEL in the period 1 January - 21 April 2021 of the kind listed in Art. 923 of Law No. 24/2017
 
 



Agreement Type and No., execution date


Scope of the agreement


Amount in the period 1 January - 21 April 2021 
(RON th.)


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties (RON th.)


Payment due dates and payment methods




Buyer: EFSA
Provider: TEL




Convention No. 416 / 20 Dec 2013; Add. 1/28 Dec 2018


Electricity transport 


73,451.36


1 January 2014


31 December 2023


27,506


In case of non-fulfillment within 5 calendar days from the due date of the obligations, the beneficiary pays in addition to the amount due, a penalty interest on this amount, corresponding as a percentage of interest due for non-payment of obligations to the state budget, for each day delay, starting with the day following the date of the deadline until the day of payment (exclusive). The total value of the penalties may not exceed the value of the amount due


Payment is made within a maximum of 10 days from receipt of the invoice




Convention No. 275 / 19 Oct 2020


Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force


46,323.48


1 September 2020


Undetermined until its termination by any of the parties 


10,583


In case of non-payment of invoices on time, PRE / Transelectrica pays a penalty equal to an additional amount compared to the amount due to be paid and includes interest accrued for any amounts due and unpaid, calculated as a percentage of the delay penalty charged for non-payment of obligations to the state budget, starting with the day following the deadline on which the payments should have been made and ending with the day preceding the day on which the outstanding amounts were actually paid


Payment is made within a maximum of 5 working days from date of issuing the invoice




Contract R170/19 Apr 2011;AA no. 1-10


Cogeneration


60,201.54


1 April 2011


11 February 2021,
starting with 12 February 2021, remains in force only the contract 35/12 feb 2021


N/A


In case of non-payment of due invoices, the guilty party has the obligation to pay penalty interest charged for late payment, equal to the level of delay interest charged for non-payment of obligations to the state budget, for each day of delay after the due date, until on the day of payment (exclusively). The total value of the penalty interest may not exceed the value of the amount due.


The contributor pays the invoices sent by the administrator of the support scheme within 7 days from their receipt, but not later than the 20th day of each month following the month of the consumption.




Contract 35 / 12 Feb 2021


12 February 2021


18 months from the date of termination of state aid established by Government Decision no. 1215/2009




Buyer: TEL
Provider: EFSA




Convention No. 275 / 19 Oct 2020


Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force


                                         11,569.65 


1 September 2020


Undetermined until its termination by any of the parties 


N/A


In case of non-payment of invoices on time, PRE / Transelectrica pays a penalty equal to an additional amount compared to the amount due to be paid and includes interest accrued for any amounts due and unpaid, calculated as a percentage of the delay penalty charged for non-payment of obligations to the state budget, starting with the day following the deadline on which the payments should have been made and ending with the day preceding the day on which the outstanding amounts were actually paid


Payment is made within a maximum of 5 working days from the date of issuing the invoice




Contract no. 321 / 20 Jul 2004 - TN
AA no. 15 / 30 Jul 2020 


Re-invoicing pensioners


                                              21.85 


20 July 2004


During GD 1041/2003 and GD 1461/2003


N/A


If the beneficiary does not pay the value of the invoices within 30 days from the due date, he owes penalties in the amount of 0.05% for each day of delay, starting with the 31st day and until full payment of the invoice.The amount of the penalties cannot exceed the value of the invoice.


Payment is made until the 25th of the month following the reference month.




Contract no. 575 / 06 Nov 2017 - MN


17 November 2017


If the payer does not pay the value of the invoices within 30 days from the due date, he owes penalties equal to the level of interest charged for late payment of debts to the state budget, for each day of delay, starting with the first day after maturity and payment in full, including the day of payment. The amount of the penalties cannot exceed the value of the invoice.


Payment is made within 30 calendar days from the date of issuance of the invoice.




Convention 1604 / 26 Feb 2020


Re-invoicing utilities 


                                                13.51 


1 March 2020


28 February 2021


N/A


If the invoices are not honored within the stipulated term, the supplier is entitled to claim penalties of 0.02% for each day of delay, calculated at the amount of the unpaid amount. The value of the calculated penalties may not exceed the amount of the unpaid amount


The payment term is 15 days from the date of registration of the documents re-invoiced by CN de Transport a Energiei Electrica Transelectrica SA.



Total executed amount during 1 January - 21 April 2021, based on contract without fix value: RON 191,581.39 th.
Due and not due mutual receivables of EFSA to TEL at 20.04.2021: RON 0.01 th.
Due and not due mutual debts of EFSA to TEL at 20.04.2021: RON 0 th.

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