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

Societatea Energetica Electrica SAAnnouncement

14/10/2020 16:20

RNS Number : 1124C
  
Societatea Energetica Electrica SA
  
14 October 2020
  
 

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:  14 October 2020
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 Societatea de Distributie a Energiei Electrice Transilvania Nord (SDTN) and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)
Electrica informs its shareholders and investors about the conclusion, on 13 October 2020, of one transaction between SDTN and EFSA, Electrica's subsidiaries, that has a value that, cumulated with the rest of the transactions concluded/executed in the last 12 months, exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements for 2019, respectively exceeds the value of RON 199,406,795. 
Details regarding the transaction concluded on 13 October 2020 by SDTN, as services provider, with EFSA, as beneficiary, containing information about the date of execution, type of transactions, description of its scope, total value of the transactions, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates and methods are presented in Annex 1.
Additionally, Electrica mentions that in the current report dated 12 October 2020 (IRIS Code (BSE) 00285, respectively RNS Code (LSE) 8325B) a clerical error was identified. The correct value of the transactions performed based on the Contract no. 103/10 Mar 2016, having as object the Provision of the electricity distribution service by the distribution operator for the users, final customers of the supplier, whose installations are connected to the electricity network of the distribution operator, is of RON 30,811.22 th instead of RON 31,444.84 th. The error occurred due to the fact that the Invoice AFFTN9710008202/12.10.2020 was incorrectly considered as having the value of RON 634.26 th, the right amount being RON 634.26.
 
Chief Executive Officer                      
Georgeta Corina Popescu                   
            




Annex 1: 
Details regarding the transaction concluded by SDTN with EFSA on 13 October 2020 of the kind listed in Art. 923 of Law No. 24/2017
Service provider: SDTN 
Beneficiary: EFSA



Parties of the transaction


Agreement Type and No., execution date


Scope of the agreement


Amount (RON th.)


Invoice Number


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties  


Payment due dates and payment methods




SDTN and EFSA TN


103 / 10 Mar 2016 Contract without fix price


Providing electricity distribution service by the distribution operator for users, end customers of the supplier, whose installations are connected to the electricity network of the distribution operator 


(0.63)


Invoice AFFTN9710008202 / 12.10.2020*
Cancelled


1 April 2016


N/A


0


Penalty interest corresponding to the percentage of interest due for non-payment of obligations to the state budget), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusively). The total amount of penalty interest may not exceed the amount due. There are 30 days of grace period. (Percentage valid at the date of reporting: 0.02%)


The issuing of the invoice with the  amount for the contractual month ended is made in the first 10 working days of the month following each contractual month. Payment is made within 10 working days from the date of receipt of the invoice.




Transactions total amount (RON th.):


(0.63)


 



 
*The invoice referred to was initially reported on 12.10.2020 (IRIS Code (BSE) 00285, respectively RNS Code (LSE) 8325B). Subsequently, the invoice was cancelled because it represents distributed quantities corresponding to October 2020, which, due to a clerical error were included in the situation for September 2020.
 
 
Due and not due mutual debts of EFSA to SDTN at 12.10.2020: RON 76,736.75 th.
Due and not due mutual debts of SDTN to EFSA at 12.10.2020: RON 666.01 th.
 
 
 
 

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