REG - Soc EnergElectricaSA - Transactions related parties EFSA TEL

Societatea Energetica Electrica SAAnnouncement

29/04/2022 13:45

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RNS Number : 9140J  Societatea Energetica Electrica SA  29 April 2022

To:                              Romanian
Financial Supervisory Authority (ASF)

 
Bucharest Stock Exchange (BVB)

                                    London
Stock Exchange (LSE)

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

Report date:  29 April 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 (BVB) and London Stock Exchange (LSE)

 

Significant events to be reported: Transactions with related parties according
to Art. 108 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 26
April 2022, of several transactions between EFSA, Electrica's subsidiary, and
TEL, whose value, cumulated with the rest of the transactions
concluded/executed in the period 26 January - 26 April 2022, exceeds the
threshold of 5% of Electrica's net assets, according to Electrica's individual
financial statements for 2021, respectively exceeds the value of RON
206,175,420.

Details regarding the transactions concluded on 26 April 2022, together with
the rest of the transactions already concluded in the period 26 January - 26
April 2022, which, individually or cumulatively, did not meet the requirement
provided in art. 108 of Law no. 24/2017, containing information about the type
of transaction, description of its scope, transaction value, , , , expiry
date, mutual debts and receivables, guarantees, penalties, payment due dates
and methods are presented in Annex 1.

 

Chief Executive Officer

Georgeta Corina Popescu

 

 

 

Annex 1: Details regarding the transactions concluded between 26 January - 26
April 2022 by EFSA with TEL of the kind listed in Art. 108 of Law No. 24/2017

 

 Agreement Type and No., execution date  Scope of the agreement                                                          Amount of transactions (RON th.)  Date of entry into force  Expiry date                                                                    Guarantees (RON th.)  Penalties                                                                        Payment due dates and payment methods
 Buyer: EFSA

 Provider: TEL
 Convention No. 416 / 20 Dec 2013        Electricity transport and system services                                       72,556.35                         1 January 2014            31 December 2023                                                               27,506                In case of non-fulfillment within 5 calendar days from the due date of the       Payment is made within a maximum of 10 days from receipt of the invoice

                                                                                                                                                                                                                                                                                        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
 Add. 1/ 28 Dec 2018                                                                                                                                                                                                                                                                      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
 Convention No. 275 / 19 Oct 2020        Sale and purchase of electricity between the parties, as a result of            104,458.45                        1 September 2020          Undetermined until its termination by any of the parties                       10,583                In case of non-payment of invoices on time, PRE pays a penalty equal to an       Payment is made within a maximum of 5 working days from date of issuing the
                                         production / consumption imbalances of PRE that were offset by Transelectrica                                                                                                                                                                    additional amount compared to the amount due to be paid and includes interest    invoice
                                         on the balancing market in accordance with the provisions of the regulations                                                                                                                                                                     accrued for any amounts due and unpaid, calculated as a percentage of the
                                         in force                                                                                                                                                                                                                                         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
 Contract 35 / 12 Feb 2021               Contribution to high efficiency cogeneration                                    53,640.59                         12 February 2021          18 months from the date of termination of state aid established by Government  N/A                   In case of non-payment of due invoices, the guilty party has the obligation to   The contributor pays the invoices sent by the administrator of the support
                                                                                                                                                                                     Decision no. 1215/2009                                                                               pay penalty interest charged for late payment, equal to the level of delay       scheme within 7 days from their receipt, but not later than the 20(th) day of
                                                                                                                                                                                                                                                                                          interest charged for non-payment of obligations to the state budget, for each    each month following the month of the consumption.
                                                                                                                                                                                                                                                                                          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.
 Buyer: TEL

 Provider: EFSA
 Convention No. 275 / 19 Oct 2020        Sale and purchase of electricity between the parties, as a result of            51,745.61                         1 September 2020          Undetermined until its termination by any of the parties                       N/A                   In case of non-payment of invoices on time, Transelectrica pays a penalty        Payment is made within a maximum of 5 working days from the date of issuing
                                         production / consumption imbalances of PRE that were offset by Transelectrica                                                                                                                                                                    equal to an additional amount compared to the amount due to be paid and          the invoice
                                         on the balancing market in accordance with the provisions of the regulations                                                                                                                                                                     includes interest accrued for any amounts due and unpaid, calculated as a
                                         in force                                                                                                                                                                                                                                         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
 Convention 254 / 24 Apr 2021            Re-invoicing utilities                                                          21.68                             1 March 2021              28 February 2022                                                               N/A                   If the invoices are not honored within the stipulated term, the supplier is      The payment term is 15 days from the date of registration of the documents
                                                                                                                                                                                                                                                                                          entitled to claim penalties of 0.02% for each day of delay, calculated at the    re-invoiced by CN de Transport a Energiei Electrica Transelectrica SA.
                                                                                                                                                                                                                                                                                          amount of the unpaid amount. The value of the calculated penalties may not
                                                                                                                                                                                                                                                                                          exceed the amount of the unpaid amount
 Convention 2848/                        Re-invoicing utilities                                                          8.42                              1 March 2022              Undetermined                                                                   N/A                   If the invoices are not honored within the stipulated term, the supplier is      The payment term is 15 days from the date of registration of the documents

                                                                                                                                                                                                                                                                                        entitled to claim penalties of 0.02% for each day of delay, calculated at the    re-invoiced by CN de Transport a Energiei Electrica Transelectrica SA.
 31 Mar 2022                                                                                                                                                                                                                                                                              amount of the unpaid amount. The value of the calculated penalties may not

                                                                                                                                                                                                                                                                                        exceed the amount of the unpaid amount
 (EFSA: 301/

 12 Apr 2022

Total executed amount during 26 January - 26 April 2022: RON 282,431.1 th.

Due and not due mutual receivables of EFSA to TEL at 21.04.2022: RON 11,509.75
th.

Due and not due mutual debts of EFSA to TEL at 21.04.2022: RON 29,062.64 th.

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