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ELSA - Societatea Energetica Electrica SA News Story

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Market Cap £572.4m
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Soc EnergElectricaSA - Transactions related parties EFSA-ELCEN

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RNS Number : 8037U  Societatea Energetica Electrica SA  07 December 2021

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: 6 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 (BVB) and London Stock Exchange (LSE)

 

Significant events to be reported: Transactions with related parties according
to Art. 108 para (12) of Law No. 24/2017 concluded by Electrica Furnizare SA
(EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with
Electrocentrale Bucuresti (ELCEN)

Electrica informs its shareholders and investors about the conclusion, on 3
December 2021, of several transactions between EFSA, Electrica's subsidiary,
and ELCEN, that have a value that, cumulated with the rest of the transactions
concluded/executed in the period 1 January - 3 December 2021, exceeds the
threshold of 5% of Electrica's net assets, according to Electrica's individual
financial statements for 2020, respectively exceeds the value of RON
202,466,778.

Details regarding the transaction concluded on 3 December 2021, together with
the rest of the transactions already concluded in the period 1 January - 3
December 2021, containing information about the date of execution, type of
transaction, description of its scope, total value of the transaction, expiry
date, mutual debts and receivables, guarantees, penalties, payment due dates
and methods are presented in Annex 1.

 

CEO
 
 
 

Georgeta Corina Popescu

Annex 1: Details regarding the transactions concluded by EFSA with ELCEN in
the period 1 January - 3 December 2021 of the kind listed in Art. 108 of Law
No. 24/2017

 

 Agreement Type and No., execution date                                 Scope of the agreement                                                       Amount of transactions  Date of entry into force  Expiry date                                  Guarantees (RON th.)  Penalties (RON th.)                                                             Payment due dates and payment methods

                                                                                                                                                     (RON th.)
 Buyer: EFSA

 Seller: ELCEN
 Contract no. 18834/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               5,882.50                23 June 2021              31 December 2021                             1,494.73              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 2,989.47 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 5,786.06 th., in case of cancellation.
 Contract no. 18833/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               5,916.32                23 June 2021              31 December 2021                             1,503.33              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 3,006.65 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 5,819.33 th., in case of cancellation.
 Contract no. 18832/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               5,909.88                23 June 2021              31 December 2021                             1,501.69              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 3,003.38th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 5,812.99 th., in case of cancellation.
 Contract no. 18839/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               2,959.33                23 June 2021              31 December 2021                             751.96                The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 1,503.92th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 2,910.82  th., in case of cancellation.
 Contract no. 18841/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               2,953.03                23 June 2021              31 December 2021                             750.36                The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 1,500.72 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 2,904.62 th., in case of cancellation.
 Contract no. 18840/ 23 Jun 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               2,952.79                23 June 2021              31 December 2021                             1,476.39              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 2,952.79 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 2,857.54 th., in case of cancellation.
 Contract no. 31207/ 14 Oct 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               8,202.43                14 October 2021           31 December 2021                             2,084.22              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,168.45 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,067.96 th., in case of cancellation.
 Contract no. 31917/ 20 Oct 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               11,961.62               20 October 2021           31 December 2021                             2,061.01              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,122.02 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 7,978.10 th., in case of cancellation.
 Contract no. 31921/ 20 Oct 2021, awarded through PCCB-LE-FLEX auction  Sale / purchase of electricity                                               11,955.03               20 October 2021           31 December 2021                             2,059.88              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,119.75 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 7,973.71 th., in case of cancellation.
 Contract no. 36951/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               26,276.54               3 December 2021           31 March 2022                                4,527.50              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 9,055.00 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 17,525.81 th., in case of cancellation.
 Contract no. 36952/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               26,240.27               3 December 2021           31 March 2022                                4,521.25              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 9,042.50 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 17,501.62 th., in case of cancellation.
 Contract no. 36953/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               26,313.68               3 December 2021           31 March 2022                                4,533.90              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 9,067.80 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 17,550.58 th., in case of cancellation.
 Contract no. 36954/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,078.36               3 December 2021           31 March 2022                                2,253.43              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,506.85 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,722.94 th., in case of cancellation.
 Contract no. 36955/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,096.93               3 December 2021           31 March 2022                                2,256.63              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,513.25 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,735.33 th., in case of cancellation.
 Contract no. 36956/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,163.42               3 December 2021           31 March 2022                                2,268.08              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,536.17 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,779.68 th., in case of cancellation.
 Contract no. 36957/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,134.92               3 December 2021           31 March 2022                                2,263.17              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,526.35 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,760.67 th., in case of cancellation.
 Contract no. 36959/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,143.02               3 December 2021           31 March 2022                                2,264.57              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,529.14 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,766.07 th., in case of cancellation.
 Contract no. 36960/ 3 Dec 2021, awarded through PCCB-LE-FLEX auction   Sale / purchase of electricity                                               13,141.29               3 December 2021           31 March 2022                                2,264.27              The non-payment of the invoice by the buyer entails the payment of delay        The buyer will pay in full the invoices issued by the seller, at the latest on
                                                                                                                                                                                                                                                                          penalties, starting with the day immediately following the due date and until   the first calendar day after the decade in which the contracted energy was
                                                                                                                                                                                                                                                                          the date of settlement of the amount due, inclusive; the level of delay         delivered. If the payment deadline is not a business day, then the payment
                                                                                                                                                                                                                                                                          penalties is 0.1% for each day of delay.                                        deadline is brought forward to the last business day before the due date.

                                                                                                                                                                                                                                                                          Compensation of RON 4,528.54 th. in case of non-submission by EFSA of the
                                                                                                                                                                                                                                                                          guarantees provided in the contract.

                                                                                                                                                                                                                                                                          Additional compensations of RON 8,764.92 th., in case of cancellation.
 Beneficiary: ELCEN

 Provider: EFSA
 Contract no. 0118/ 10 Jun 2004                                         Re-invoicing - pensioners energy quota                                       92.26                   10 June 2004              During the period GD 1041/ and GD 1461/2003  N/A                   The non-payment of the invoices within 30 days of the due date will lead to     The supplier issues the invoice to the beneficiary until the 15th of the month

                                                                                                                                                                                                 the application of penalties, starting from the first day after the due date,   following the month in which the electricity was invoiced to the pensioners,
 Add 3/ C 108/12 May 2009                                               Equivalent value of electricity granted to individuals benefiting from the                                                                                                                        equal to the level of interest charged for late payment of debts to the State   called the reference month.

                                                                      provisions of GD.1041/2003 and GD.1461/2003                                                                                                                                                       Budget, for each calendar day of delay, until full payment

 AA 58/ 26 Apr 2021
                                                                               Payment of invoices issued by the supplier will be made within 10 days from
                                                                                                                                                                                                                                                                          The amount of the penalties will not exceed the value of the settlement         the date of issue.
                                                                                                                                                                                                                                                                          invoice.

 

Total executed amount during 1 January 2021 - 3 December 2021: RON 216,373.62
th.

Due and not due mutual receivables of EFSA to ELCEN at 02.12.2021: RON 5.97
th.

Due and not due mutual debts of EFSA to ELCEN at 02.12.2021: RON 0 th.

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