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Soecietatea Energetica Electrica S.A.
Related Party Transaction • Mar 6, 2025
2280_rns_2025-03-06_c6dfbdd9-fd9a-413e-8f1a-f9b195265a9c.pdf
Related Party Transaction
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To: Romanian Financial Supervisory Authority (FSA)
Bucharest Stock Exchange (BSE)
London Stock Exchange (LSE)
Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, FSA Regulation no. 5/2018 on issuers of financial instruments and market operations, and the Bucharest Stock Exchange Code
Report date: 6 March 2025
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 3,395,530,040
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)
Significant events to be reported: Transactions with related parties according to Art. 108 of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Bursa Romana de Marfuri (BRM)
Electrica informs its shareholders and investors about the conclusion/execution, in the period 1 March 2024 – 28 February 2025, of some transactions between EFSA, Electrica's subsidiary, and Bursa Romana de Marfuri (BRM), whose cumulated value exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements at 30 June 2024, respectively exceeds the value of RON 200,247,479.
Details regarding these transactions, 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 the Annex below.
According to the contractual conditions between EFSA and OPCOM in the conventions in the table in the annex, invoices are issued with the date of the last day of the month of delivery and are sent electronically either in the first three working banking days of the following month, or in the first 5 working days of the following month for which the services are provided/months of delivery/months in which the transactions are carried out. Thus, some of the invoices included in this report were received and registered after 28 February 2025 (the date when the reporting threshold was exceeded), this represents the reason for the date of this report.
CFO Stefan Frangulea
| No. | Agreement Type and No., execution date |
Scope of the agreement | Value of transactions (RON th.) |
Date of entry into force |
Expiry date | Guarantees (RON th.) |
Penalties (RON th.) | Payment due dates and payment methods |
|---|---|---|---|---|---|---|---|---|
| Buyer: EFSA Seller: BRM |
||||||||
| 1 Contract 1265/871/13Mar2024 | Collaboration contract Affiliates - BRM | 1.49 | 13-Mar-2024 | 12-Mar-2026 | For non-execution, partial execution or improper execution of the contractual obligations provided for in this contract, the party at fault shall pay the other party damages. Art. 18 of the Contract Fine between 500 - 10,000 lei. Art. 19, paragraph 3) of the BRM Regulation on the Organization and Functioning of the Market. |
The affiliated member will pay an annual fee to the BRM account in the amount of 150 euros, respectively 300 euros for a period of 24 months. Art. 5 of the Contract. |
||
| 2 | Contract 146/2024 UAT JUD. GALATI/11Mar2024 |
BRM Electricity Trading Commission | 1.81 | 11-Mar-2024 | 26-Mar-2024 | |||
| 3 | Contract 364GN/2024 SPEP MUN. PITESTI/13May2024 |
BRM Natural Gas Trading Commission | 5.80 | 13-May-2024 | 28-May-2024 | |||
| 4 | Contract 406GN/2024 ORASUL TG. NEAMT/16May2024 |
BRM Natural Gas Trading Commission | 0.43 | 16-May-2024 | 31-May-2024 | |||
| 5 | Contract 469GN/2024 UAT COMUNA M. KOGALNICEANU/10Jun2024 |
BRM Natural Gas Trading Commission | 1.64 | 10-Jun-2024 | 25-Jun-2024 | |||
| 6 | Contract 542/2024 MUN. GHEORGHENI/01Jul2024 |
BRM Electricity Trading Commission | 3.66 | 1-Jul-2024 | 16-Jul-2024 | |||
| 7 | Contract 573GN/2024 SOC. GOSPODARIE URBANA SRL GALATI/12Jul2024 |
BRM Natural Gas Trading Commission | 2.55 | 12-Jul-2024 | 26-Jul-2024 | |||
| 8 | Contract 578/2024 ORASUL HATEG/18Jul2024 |
BRM Electricity Trading Commission | 3.03 | 18-Jul-2024 | 2-Aug-2024 | |||
| 9 | Contract 593GN/2024 DAS ARAD/23Jul2024 |
BRM Natural Gas Trading Commission | 1.71 | 23-Jul-2024 | 7-Aug-2024 | |||
| 10 Contract 625GN/2024 UAT ORAS | SLANIC MOLDOVA/08Aug2024 BRM Natural Gas Trading Commission | 0.88 | 8-Aug-2024 | 23-Aug-2024 | ||||
| 11 Contract 642GN/2024 UAT MEDIAS/22Aug2024 |
BRM Natural Gas Trading Commission | 14.08 | 22-Aug-2024 | 6-Sep-2024 | ||||
| 12 Contract 643GN/2024 AAP TIMISOARA/19Aug2024 |
BRM Natural Gas Trading Commission | 2.77 | 19-Aug-2024 | 3-Sep-2024 |
Annex: Details regarding the transactions concluded by EFSA with BRM in the period 1 March 2024 – 28 February 2025 of the kind listed in Art. 108 of Law No. 24/2017
1,000.00
In case of non-payment of the commission, BRM will retain the guarantee of the party at fault according to the Regulation on the Organization and Functioning of the Available Market.
The selling client EFSA undertakes to pay BRM, within 30 days, the commission due for the concluded transaction, to which the VAT value is added.
| No. | Agreement Type and No., execution date |
Scope of the agreement | Value of transactions (RON th.) |
Date of entry into force |
Expiry date | Guarantees (RON th.) |
Penalties (RON th.) | Payment due dates and payment methods |
|---|---|---|---|---|---|---|---|---|
| 13 Contract 645GN/2024 UM 0929 BUCURESTI/19Aug2024 |
BRM Natural Gas Trading Commission | 29.62 | 19-Aug-2024 | 3-Sep-2024 | ||||
| 14 Contract 649GN/2024 UM 02044 TULCEA/19Aug2024 |
BRM Natural Gas Trading Commission | 0.36 | 19-Aug-2024 | 30-Aug-2024 | ||||
| 15 Contract 653GN/2024 UM 02052 MAMAIA SAT/21Aug2024 |
BRM Natural Gas Trading Commission | 0.63 | 21-Aug-2024 | 30-Aug-2024 | ||||
| 16 Contract 657GN/2024 UM 01464 SIBIU/27Aug2024 |
BRM Natural Gas Trading Commission | 5.95 | 27-Aug-2024 | 11-Sep-2024 | ||||
| 17 Contract 658GN/2024 COM. SACALASENI/27Aug2024 |
BRM Natural Gas Trading Commission | 1.21 | 27-Aug-2024 | 11-Sep-2024 | 1,000.00 | |||
| 18 Contract 663GN/2024 MUN. AIUD/27Aug2024 |
BRM Natural Gas Trading Commission | 6.86 | 27-Aug-2024 | 11-Sep-2024 | In case of non-payment of the | The selling client EFSA | ||
| 19 Contract 672GN CUP DUNAREA BRAILA/26Sep2024 |
BRM Natural Gas Trading Commission | 3.77 | 26-Sep-2024 | 11-Oct-2024 | commission, BRM will retain the guarantee of the party at fault |
undertakes to pay BRM, within 30 days, the commission due |
||
| 20 Contract 674GN/2024 UM 02043 BRAILA/28Aug2024 |
BRM Natural Gas Trading Commission | 1.12 | 29-Aug-2024 | 11-Sep-2024 | according to the Regulation on the Organization and Functioning of the |
for the concluded transaction, to which the VAT value is |
||
| 21 | Contract 700/2024 SPITALUL MUNICIPAL CAMPINA/25Sep2024 |
BRM Electricity Trading Commission | 7.62 | 25-Sep-2024 | 10-Oct-2024 | Available Market. | added. | |
| 22 Contract 709GN COMPANIA DE APA ORADEA/17Sep2024 |
BRM Natural Gas Trading Commission | 3.13 | 18-Sep-2024 | 30-Sep-2024 | ||||
| 23 Contract 710GN TRIBUNALUL SIBIU/25Sep2024 |
BRM Natural Gas Trading Commission | 1.93 | 25-Sep-2024 | 10-Oct-2024 | ||||
| 24 Contract 722GN CURTEA DE APEL PITESTI/26Sep2024 |
BRM Natural Gas Trading Commission | 1.56 | 26-Sep-2024 | 11-Oct-2024 | ||||
| 25 Contract 736/2024 CURTEA DE APEL CRAIOVA/24Sep2024 |
BRM Electricity Trading Commission | 0.14 | 24-Sep-2024 | 8-Oct-2024 | ||||
| 26 Contract 741GN/2024 SALINA TURDA/04Oct2024 |
BRM Natural Gas Trading Commission | 2.69 | 4-Oct-2024 | 18-Oct-2024 | ||||
| 27 Contract 757GN/2024 URBIS SA BAIA MARE/04Oct2024 |
BRM Natural Gas Trading Commission | 1.62 | 4-Oct-2024 | 19-Oct-2024 |
| No. | Agreement Type and No., execution date |
Scope of the agreement | Value of transactions (RON th.) |
Date of entry into force |
Expiry date | Guarantees (RON th.) |
Penalties (RON th.) | Payment due dates and payment methods |
|---|---|---|---|---|---|---|---|---|
| 28 Contract 762GN/2024 TRIBUNAL GALATI/03Oct2024 |
BRM Natural Gas Trading Commission | 0.47 | 3-Oct-2024 | 17-Oct-2024 | ||||
| 29 Contract 763GN TROLEIBUZUL SA/14Oct2024 |
BRM Natural Gas Trading Commission | 0.74 | 14-Oct-2024 | 29-Oct-2024 | ||||
| 30 | Contract 782GN UNIV. "DUNAREA DE JOS" GALATI/17Oct2024 |
BRM Natural Gas Trading Commission | 13.24 | 17-Oct-2024 | 31-Oct-2024 | |||
| 31 Contract 792GN/2024 MUN. BLAJ/25Oct2024 |
BRM Natural Gas Trading Commission | 2.37 | 25-Oct-2024 | 9-Nov-2024 | ||||
| 32 Contract 829GN NAIR SA DRDP IASI/08Nov2024 |
BRM Natural Gas Trading Commission | 6.45 | 8-Nov-2024 | 20-Nov-2024 | ||||
| 33 Contract 844GN/2024 SP. AZUGA/19Nov2024 |
BRM Natural Gas Trading Commission | 3.29 | 19-Nov-2024 | 4-Dec-2024 | ||||
| 34 | Contract 845GN UNIV. TRANSILVANIA BRASOV/12Nov2024 |
BRM Natural Gas Trading Commission | 18.94 | 12-Nov-2024 | 27-Nov-2024 | |||
| 35 Contract 857GN SANATORIUL BUSTENI/20Nov2024 |
BRM Natural Gas Trading Commission | 1.97 | 20-Nov-2024 | 5-Dec-2024 | ||||
| 36 | Contract OI427GN/2024 SP. CLINIC DE URGENTA PT. COPII "SF. IOAN" GALATI/22May2024 |
BRM Natural Gas Trading Commission | 5.08 | 23-May-2024 | 6-Jun-2024 | |||
| 37 Convention 31/04Jul2023 | Market organization and administration services and granting the right to carry out sales and purchase transactions with Products on the Markets, under the terms of the Market Regulations. |
22,673.63 | 1-Aug-2023 | 30-Jun-2024 | See note 1 | |||
| 38 Convention 43/18Jun2024 | Market organization and administration services and granting the right to carry out sales and purchase transactions with Products on the Markets, under the terms of the Market Regulations. |
180,074.02 | 1-Jul-2024 | undetermined 63,100.00 | See note 2 |
1,000.00
In case of non-payment of the commission, BRM will retain the guarantee of the party at fault according to the Regulation on the Organization and Functioning of the Available Market.
The selling client EFSA undertakes to pay BRM, within 30 days, the commission due for the concluded transaction, to which the VAT value is added.
| No. | Agreement Type and No., execution date |
Scope of the agreement | Value of transactions (RON th.) |
Date of entry into force |
Expiry date | Guarantees (RON th.) |
Penalties (RON th.) | Payment due dates and payment methods |
||
|---|---|---|---|---|---|---|---|---|---|---|
| Seller: EFSA Buyer: BRM |
||||||||||
| 39 Convention 31/04Jul2023 | Market organization and administration services and granting the right to carry out sales and purchase transactions with Products on the Markets, under the terms of the Market Regulations. |
380.90 | 1-Aug-2023 | 30-Jun-2024 | N/A | See note 1 | ||||
| 40 Convention 43/18Jun2024 | Market organization and administration services and granting the right to carry out sales and purchase transactions with Products on the Markets, under the terms of the Market Regulations. |
10,342.36 | 1-Jul-2024 | undetermined | N/A | See note 1 |
Total executed amount during 1 March 2024 – 28 February 2025: 213,631.53 th RON Due and not due mutual receivables of EFSA from BRM at 27 February 2025: -739.74 th RON Due and not due mutual debts of EFSA to BRM at 27 February 2025: -144,151.35 th RON
Note 1: All settlement operations are carried out between the Central Account of the BRM (Romanian Commodities Exchange), as the Central Counterparty, and the bank account(s) of the market participant, who for IDD must have concluded a direct debit mandate with a settlement bank in favor of the BRM. Payment instructions issued by the BRM are transmitted to the Central Account Bank no later than the end of the first banking day following the trading day. Art. 9.14 Clearing Note 2: Invoices will be generated in accordance with the provisions of the Fiscal Code and will be sent by the 5th of the month following the month in which the delivery took place.
Within 10 days from the date of issuance of the invoice, the full value of the payment obligations related to the trading fees on the Market, respectively the fees related to other services offered to the Participant, including the manual settlement services of transactions in case of non-executed settlements, as well as the bank commissions related to the above and penalties for requests to cancel transactions, according to the applicable fees published on the BRM website. Art.4 letter i) Convention 43., will be paid.