Societatea Energetica Electrica SA logo

ELSA - Societatea Energetica Electrica SA News Story

$9 0.0  0.0%

Last Trade - 30/11/21

Sector
Utilities
Size
Mid Cap
Market Cap £572.1m
Enterprise Value £682.8m
Revenue £1.14bn
Position in Universe 575th / 1804

Soc EnergElectricaSA - Transactions affliliated parties - DSOs and EFSA

RNS Number : 1163A
Societatea Energetica Electrica SA
25 September 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:  24 September 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 between electricity distribution companies and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)

Electrica informs its shareholders and investors about the conclusion, on 23 September 2020, of 5 transactions between electricity distribution companies and EFSA, Electrica's subsidiaries, based on agreements without fix price, 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 on 23 September 2020 by electricity distribution companies, as services providers/beneficiaries, with EFSA, as beneficiary/service provider, 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 SDMN with EFSA on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017

Services provider: SDMN       

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

SDMN and EFSA

21/15 Feb 2018

Contract without fix price

Balancing Market

453.55

1 February 2018

31 January 2021

0

0.01% penalty interest as a percentage of the interest due for non-payment on time of the contractual obligations, calculated for each day of delay starting with the 30th day after the due date until the day of payment

Payment is made within 3 working days from the date of receipt by email / fax

Transactions total amount (RON th.):

453.55






Due and not due mutual debts of EFSA to SDMN at 22.09.2020 (RON th.):

94,844.11

 

Due and not due mutual debts of SDMN to EFSA at 22.09.2020 (RON th.):

1,037.43

 

 

 

 

 

 

 

 

 

Annex 1

Details regarding the transactions concluded by SDTN with EFSA on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017

Services provider: SDTN        

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

SDTN and  EFSA

22/15 Feb 2018 and Concession contract 61/4 Apr 2018

Contract without fix price

Providing  representation service as the Party Responsible for Balancing

83.29

27 February 2018

31 December 2020, with the possibility of extension without completing any formality, for periods of 12 months, if neither party requests the cancellation of the contract at least 30 days before the expiration of its duration

0

Interest due for not paying the obligations to the state budget in due time, applied starting with the first day after the due date; (Percentage valid at the date of reporting: 0.02%)

 

If the provider fails to fulfill its obligations under the contract, the purchaser has the right to deduct from the tariff established by the contract, as penalties, an amount equivalent to a percentage of 1.5% of the monthly tariff

Payment is made within 3 working days from the date of receipt of the invoice

Transactions total amount (RON th.):

83.29






Due and not due mutual debts of EFSA to SDMN at 22.09.2020 (RON th.):

77,775.46

 

Due and not due mutual debts of SDMN to EFSA at 22.09.2020 (RON th.):

1,094.20

 

 

 

 

 

 

 

Details regarding the transactions concluded by EFSA  with Societatea de Distributie a Energiei Electrice Muntenia Nord (SDMN), Societatea de Distributie a Energiei Electrice Transilvania Nord (SDTN) and Societatea de Distributie a Energiei Electrice Transilvania Sud (SDTS) on 23 September 2020 of the kind listed in Art. 923 of Law No. 24/2017

Services provider: EFSA        

Beneficiary: SDMN, SDTN, SDTS

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

EFSA and SDMN

21/15 Feb 2018

Contract without fix price

Representation service as the Party Responsible for Balancing

116.38

1 February 2018

31 January 2021

0

0

Payment is made within 3 working days from the date of receipt by email / fax

EFSA and SDTN

22/15 Feb 2018

Contract without fix price

Representation service as the Party Responsible for Balancing

338.55

1 January 2018

31 December 2020

0

0

Payment is made within 3 working days from the date of receipt of the invoice

EFSA and SDTS

23/15 Feb 2018

Contracts without fix price

Providing representation service as Balancing Responsible Party

47.44

1 February 2018

31 January 2021

0

0

Payment is made within 3 working days from the date of receipt of the invoice

Transactions total amount (RON th.):

502.37






Due and not due mutual debts of EFSA to SDTS at 22.09.2020 (RON th.):

35,640.58

 

Due and not due mutual debts of SDTS to EFSA at 22.09.2020 (RON th.):

692.22

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCPPUCCBUPUUAA
© Stockopedia 2022, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.