REG - S.N.G.N. Romgaz S.A. - Current Report - Electrocentrale Buc._Oct.16,2015 <Origin Href="QuoteRef">ROSNG.BX</Origin>

Societatea Nationala de Gaze Naturale Romgaz SAAnnouncement

05/01/2016 12:48

RNS Number : 5446C
S.N.G.N. Romgaz S.A.
16 October 2015
CURRENT REPORT
In compliance with the Romanian Capital Market Law No. 297/2004, Art.224 and
CNVM Regulation No. 1/2006
Report date: October 16, 2015
Company name: Societatea Nationala de Gaze Naturale ROMGAZ S.A.
Address: Medias, 4 Constantin I. Motas Square, Sibiu County - Romania, 551130
Phone/fax no: 004-0269-201020 / 004-0269-846901
Fiscal Code: RO14056826
Trade Register registration number: J32/392/2001
Subscribed and paid in share capital: 385,422,400 RON
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BVB), London Stock Exchange (LSE)
Significant event to be reported:
S.N.G.N. ROMGAZ S.A. continues gas deliveries for S.C. Electrocentrale Bucuresti S.A. until November 15, 2015
On October 14, 2015, ROMGAZ Board of Directors approved the following:
a)Extension of the gas sales-purchase contract with S.C. Electrocentrale Bucuresti S.A. until November 15, 2015;
b) Exemption for this new contractual period from the Gas Supply Policy, previously established by the Board of Directors, namely from setting up letters of bank guarantee or from advance payments;
c)The natural gas quantities contracted for the period mentioned under a) shall be nominated based on payments made prior to the nominations for the month in progress.
S.C. Electrocentrale Bucuresti S.A. shall be notified on the decision of the Board of Directors as well as on the following:
i)The possibility to continue the contractual relationship after November 15, 2015 only if S.C. Electrocentrale Bucuresti S.A. presents until November 15, 2015 a firm program for extinguishment of overdue debts to S.N.G.N. ROMGAZ S.A.;
ii) If the program mentioned under item i) above is not submitted, the gas deliveries will cease starting from November 16, 2015. 
The decision is based on advanced discussions with the highest decision making authorities related to identifying and looking for favourable solutions in order to ensure the payment of the natural gas supplied to S.C. Electrocentrale Bucuresti S.A. In case these solutions cannot be materialised natural gas deliveries shall cease starting from November 16, 2015. 
 
 Director General,
 Virgil - Marius METEA

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