REG - Soc EnergElectricaSA - Closing of acquis. of Stanesti Photovoltaic Farm

Societatea Energetica Electrica SAAnnouncement

01/09/2020 07:02

RNS Number : 5401X
  
Societatea Energetica Electrica SA
  
31 August 2020
  
 

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,  FSA Regulation no. 5/2018 on issuers of financial instruments and market operations, and the Bucharest Stock Exchange Code
Report date: 31 August 2020
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1st 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: 
 
Announcement of the closing of the acquisition of Stanesti Photovoltaic Farm, Giurgiu County
 
Electrica informs the shareholders and investors that Electrica Furnizare S.A., part of Electrica group, has closed the acquisition from Raylexo Limited and Long Bridge Management si Administrare S.R.L. of the Stanesti Photovoltaic Farm in Giurgiu County, with an installed capacity of 7.5 MW (operational power limited at 6.8 MW), project held by Long Bridge Milenium S.R.L..
 
The purchase price of the shares is EUR 1,617,940, which may be adjusted on the basis of the share purchase agreement in view of the financial results at the time of closing of the trial balance as at 31 August 2020. Amongst various elements of the transaction, we also note that Electrica Furnizare S.A. has taken over the loans granted by the former shareholders of Long Bridge Milenium S.R.L. to the acquired company, in total outstanding amount of EUR 3,817,749.48.
 
This transaction is the first step towards the envisaged target of vertical development of - Electrica group by entering the market for electricity generation, in particular from renewable sources, by acquiring wind and/or photovoltaic farms.
 
Chief Executive Officer                                                          
Georgeta Corina POPESCU                                                  

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