REG - Soc EnergElectricaSA - Give in payment contract with SEM

Societatea Energetica Electrica SAAnnouncement

02/06/2020 11:15

RNS Number : 6912O
  
Societatea Energetica Electrica SA
  
02 June 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, and the Bucharest Stock Exchange Code
Report date: 2 June 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 (BSE) and London Stock Exchange (LSE)
 
Significant events to be reported: Legal act of the kind listed in Art. 82 of Law No. 24/2017 concluded by Societatea Energetica Electrica SA (Electrica) in Semester I 2020 - Contract of sale and give in payment concluded with SEM
 
Electrica informs its shareholders and investors about the conclusion, on 28 May 2020, of a legal act with a value greater than EUR 50,000 with Servicii Energetice Muntenia SA (SEM), affiliate, where Electrica is the main shareholder.
Details regarding the Contract of Sale and Give in Payment concluded by Electrica, as Buyer and Creditor, with SEM, as Seller and Debtor, containing information regarding the date of execution, type of legal act, description of its scope, total value, expiry date, mutual debts and receivables, guarantees, penalties, deadlines and payment due dates and payment methods are presented in Annex 1. The contract of sale and give in payment concerns the give in payment and sale of the property right over the building located in Bucharest, 146 Calea Serban Voda, 4th district, in order to pay off in full the obligation to repay the loan in amount of RON 5,500,000, granted by the Loan Agreement no. 167/29 May 2018,
The independent limited assurance report performed by a financial auditor regarding the transactions reported by Electrica according to Art. 82 of Law no. 24/2017 will be made public in maximum 30 days from the end of the reporting period according to the provisions of Art. 144 letter B para (4) of FSA Regulation no. 5/2018. 
 
Chief Executive Officer
Georgeta Corina Popescu







Annex 1: Details regarding the legal act of the kind listed in Art. 82 of Law No. 24/2017, concluded by Electrica in Semester I 2020
Buyer and Creditor: Societatea Energetica Electrica SA                                                                                                                        
Seller and Debtor: Servicii Energetice Muntenia SA
 




Company

(Seller and Debtor)


Agreement Type and No., execution date


Scope of the agreement


Amount (RON)


Date of execution/ entry into force


Expiry date


Receivables/

Mutual debts


Guarantees (RON th.)


Penalties


Payment due dates and payment methods




Servicii Energetice Muntenia SA (SEM)


Contract for sale and give in payment according to the authentication agreement

No. 863/

28.05.2020


The building located in Bucharest, 146 Calea Serban Voda, 4th district
 


33,772,570


28 May 2020


-


RON 18.9 th. receivable of Electrica from SEM


-


-


The give in payment was realized for a price equal to the market value of the building, of RON 33,772,570, out of which: the amount of RON 5,500,000 is considered paid for the repayment of the loan granted according to Loan Agreement no. 167/29 May 2018, the amount of RON 24,873,550, representing Electrica's claim on SEM resulting from the share capital reduction of SEM according to SEM's GMS resolution no. 11/18.12.2019 is offset by the debt of Electrica to SEM resulting from the Contract for sale and give in payment No. 863/28.05.2020 (part of the price), while the amount of RON 3,399,020, representing the difference between the sale price and the amounts indicated above extinguished under this contract, was paid by Electrica to SEM, by bank transfer, on 28 May 2020.



 
 


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