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ELSA - Societatea Energetica Electrica SA News Story

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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 related parties - SDTN and EFSA

RNS Number : 5185C
Societatea Energetica Electrica SA
19 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:  19 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 concluded by Societatea de Distributie a Energiei Electrice Transilvania Nord (SDTN) and Electrica Furnizare SA (EFSA), subsidiaries of Societatea Energetica Electrica SA (Electrica)

Electrica informs its shareholders and investors about the conclusion, on 16 October 2020, of several transactions between SDTN and EFSA, Electrica's subsidiaries, 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 16 October 2020 by SDTN, as services provider, with EFSA, as beneficiary, containing information about the date of execution, type of transactions, description of its 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 transaction concluded by SDTN with EFSA on 16 October 2020 of the kind listed in Art. 923 of Law No. 24/2017

Service provider: SDTN

Beneficiary: EFSA

Parties of the transaction

Agreement Type and No., execution date

Scope of the agreement

Amount (RON th.)

Invoice Number

Date of entry into force

Expiry date

Guarantees (RON th.)

Penalties  

Payment due dates and payment methods

SDTN and EFSA

487/29 Aug 2007;
AA 42/17 Dec 2019

Telecommunications services

1.29

MMFTN9310162428 / 16.10.2020

1 August 2007

31 December 2020

0

The beneficiary will pay, beside the amount due, a penalty to this amount, corresponding as a percentage of the interest due for non-payment on time of the obligations to the state budget, for each day of delay compared to the due date, until the day of payment (exclusively).

Payment is made within 30 working days from the date of receipt of the invoice. Payment of invoices can also be made by compensation in compliance with the legislation in force.

SDTN and EFSA

Convention 30728/22 Feb 2016, AD 3/1159/16 Jul 2020 - Oradea

Re-invoicing utilities expenses

1.64

BHFTN9210159424 / 16.10.2020

1 January 2016

31 December 2023

0

For delays in the payment of the invoice longer than 30 days from the due date, the lessor has the right to charge, and the lessee has the obligation to pay, late payment penalties in amount of 0.03% applied to the amount due for each calendar day of delay, starting with the first day after due-date. The value of the penalties will not exceed the value of the outstanding debt

Payment is made within 10 days from the date of registration of the invoice to the tenant.

Convention 60380/22 Feb 2016, AD 6/ 60376A/404/15 feb 2019 - Satu Mare 

10.09

SMFTN9410101925 / 16.10.2020

Transactions total amount (RON th.):

13.01

 

 

Due and not due mutual debts of EFSA to SDTN at 15.10.2020: RON 76,777.86 th.

Due and not due mutual debts of SDTN to EFSA at 15.10.2020: RON 741.00 th.

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