REG - Soc EnergElectricaSA - Transactions affiliated parties with EFSA

Societatea Energetica Electrica SAAnnouncement

02/10/2020 14:55

RNS Number : 9998A
  
Societatea Energetica Electrica SA
  
02 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:  2 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 
Electrica informs its shareholders and investors about the conclusion, between 1-2 October 2020, of several transaction between:
·  Societatea de Distributie a Energiei Electrice Transilvania Sud S.A. (SDTS) and Electrica Furnizare S.A (EFSA), subsidiaries of Societatea Energetica Electrica S.A. (Electrica)
·    EFSA and Complexul Energetic Oltenia (CEO), Electrica's related party 
·    EFSA and OPCOM, Electrica's related party,
transactions that have 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 transactions concluded between 1-2 October 2020, containing information about the date of execution, type of transactions, description of their scope, total value of the transactions, 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 by SDTS with EFSA on 1 October 2020 of the kind listed in Art. 923 of Law No. 24/2017
Services provider: SDTS         
Beneficiary: EFSA




Parties of the transaction


Agreement Type and No., execution date


Scope of the transactions


Amount (RON th.)


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties 


Payment due dates and payment methods




SDTS and EFSA TS


C-3831/D/700/ 15 Mar 2016 and AA2/01 Aug 2016


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 - Providing other services as distribution operator


(9.53)*


1 August 2016


N/A


0 


0.02% (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 (exclusive).


Payment is made within 30  days from the date of receipt of the invoice




Transactions total amount (RON th.):


(9.53)*


 


 


 


 


 




* correction of the energy distribution service, according to the provisions of the Civil Sentence no. 2564 / 17.09.2019 pronounced by the Odorheiu Secuiesc Court.
 
 
Due and not due mutual debts of EFSA to SDTS at 30.09.2020: RON 35,359.14 th.
Due and not due mutual debts of SDTS to EFSA at 30.09.2020: RON 595,85 th.
 
 
 
 
Details regarding the transactions concluded by EFSA with CEO on 1 October 2020 of the kind listed in Art. 923 of Law No. 24/2017
Seller: CEO                      
Buyer: EFSA
 




Parties of the transaction


Agreement Type and No., execution date


Scope of transaction


Amount of transaction (RON th.)


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties 


Payment due dates and payment methods




CEO and EFSA


Contract No. 1763/CEO/1 Oct 2020, following the transactions dated 29 Sept 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction


Sale and purchase of electricity


10,718.30


1 January 2021


31 December 2021


1,174.61


Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount.
Compensation of RON 880.96 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO.
Additional compensations of RON 880.96 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.


The invoice is issued after delivery, in two installments: - on the 15th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16th to the last day of the month of delivery
Payment is made until the 25th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16th to the last day of month of delivery.




Total amount (RON th.):


10,718.30


 




 
Due and not due mutual receivables of EFSA from CEO at 30.09.2020: RON 3,02 th
Due and not due mutual debts of EFSA towards CEO at 30.09.2020: RON 6.714  th 
 
 
 
Details regarding the transactions concluded by EFSA with OPCOM on 2 October 2020 of the kind listed in Art. 923 of Law No. 24/2017
Seller: OPCOM                        
Buyer: EFSA
 




Parties of the transaction


Agreement Type and No., execution date


Scope of the transactions


Amount (RON th.)


Date of entry into force


Expiry date


Guarantees (RON th.)


Penalties (RON th.)


Payment due dates and payment methods




OPCOM and EFSA


Convention PCCB-NC 3876/2015
Convention PCCB-LE 3878/2015
Convention PCCB LE FLEX 26829/2020
Convention PC OTC 19546/2014
Convention PC SU 14098/2018
Convention PI/2017;
Convention PVC 90958/2017
Convention PC ESRE CV 6235/2019
Conventions without fix price, the transactions amounts are determined based on the monthly invoices issued by OPCOM


Trading tariffs


14.59


19 January 2015
19 January 2015
26 May 2020
2 April 2014
20 April 2018
19 January 2017
11 October 2017
30 September 2019


N/A
 


28,500


 


Invoices are issued on the last day of the delivery month. Payment is made until the 10th calendar day of the following month




Total transactions amount (RON th.):


14.59


 




 
Due and not due mutual receivables of EFSA to OPCOM at 01.10.2020: RON 4,195.27 th.
Due and not due mutual debts of EFSA to OPCOM at 01.10.2020: RON 4,357.32 th.
 

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