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ELSA - Societatea Energetica Electrica SA News Story

$9 0.0  0.0%

Last Trade - 30/11/21

Sector
Utilities
Size
Mid Cap
Market Cap £572.4m
Enterprise Value £683.1m
Revenue £1.14bn
Position in Universe 566th / 1804

Soc EnergElectricaSA - Acquisition of photovoltaic farm project company

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RNS Number : 8902U  Societatea Energetica Electrica SA  07 December 2021

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: 7 December 2021

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 (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 sources

 

Electrica informs the shareholders and investors that, on 7 December 2021,
signed, as buyer, with

Mr. Emanuel Muntmark and with Mr. Catalin Mrejeru, as sellers, a shares sales
and purchase agreement ("SPAs") 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 Foton Power Energy
S.R.L, wholly owned by the sellers, for an estimated total price of EUR
4,262,500. The final price will be determined by adjusting the total estimated
price depending on the production capacity, respectively the authorized
storage, based on a contractually established calculation formula. Foton Power
Energy S.R.L. develops the photovoltaic project "Bihor 1", with a designed
installed capacity of 77.5 MW, located near Oradea city.

The SPAs stipulate the acquisition by Electrica of company's shares and the
payment of the corresponding price in four stages, structured according to the
development stage of the project and the fulfillment of certain conditions
precedent.

The transaction in question is part of the Electrica Group's strategy
established for the period              2019-2023, which also
envisages the expansion of the value chain of electricity, especially in the
power production from renewable energy sources.

 

 

CEO

Georgeta Corina
Popescu

 

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