Soecietatea Energetica Electrica S.A.

Related Party Transaction • Dec 29, 2020

National Storage Mechanism | Additional information

RNS Number : 8786J

Societatea Energetica Electrica SA

24 December 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 December 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 reported according to Art. 923 para (12) of Law No. 24/2017  

Electrica informs its shareholders and investors about the conclusion, on 23-24 December 2020, of several transaction between:

-     Electrica Furnizare SA (EFSA) and Societatea de Distributie a Energiei Electrice Transilvania Nord SA (SDTN), Societatea de Distributie a Energiei Electrice Transilvania Sud SA (SDTS), Societatea de Distributie a Energiei Electrice Muntenia Nord SA (SDMN), Electrica's subsidiaries;

-     EFSA and Transelectrica S.A. (TEL);

-     EFSA and Societatea Nationala Nuclearelectrica S.A. (SNN),

transactions 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 23-24 December 2020, 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 transaction concluded by EFSA with SDTN on 23 December 2020 of the kind listed in Art. 923 of Law No. 24/2017

Service provider: EFSA

Beneficiary: SDTN

Parties of the transaction	Agreement Type and No., execution date	Scope of transactions	Amount of transaction (RON th.)	Invoice Number / Date		Date of entry into force		Expiry date		Guarantees (RON th.)	Penalties		Payment due dates and payment methods
EFSA and SDTN	22/15 Feb 2018	Representation service as the Party Responsible for Balancing	1,162.47	6170 / 23.12.2020		1 January 2018		31 December 2020 with automatic renewal		0	0		Payment is made within 3 working days from the date of receipt of the invoice
Transactions total amount (RON th.):			1,162.47

Due and not due mutual debts of EFSA to SDTN at 22.12.2020: RON 87,194.02 th.

Due and not due mutual debts of SDTN to EFSA at 22.12.2020: RON 1,331.35 th.

Details regarding the transaction concluded by EFSA with SDTS on 23 December 2020 of the kind listed in Art. 923 of Law No. 24/2017

Service provider: EFSA

Beneficiary: SDTS

Parties of the transaction	Agreement Type and No., execution date	Scope of transactions	Amount of transaction (RON th.)	Invoice Number / Date	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
EFSA and SDTS	23/15 Feb 2018	Providing representation service as Balancing Responsible Party	1,650.50	6112 / 23.12.2020	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.):			1,650.50

Due and not due mutual debts of EFSA to SDTS at 22.12.2020: RON 77,132.94 th.

Due and not due mutual debts of SDTS to EFSA at 22.12.2020: RON 1,216.78 th.

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

Services provider: EFSA        

Beneficiary: SDMN

Parties of the transaction	Agreement Type and No., execution date	Scope of transactions	Amount of transaction (RON th.)	Invoice Number / Date		Date of entry into force		Expiry date		Guarantees (RON th.)	Penalties		Payment due dates and payment methods
EFSA and SDMN	21/15 Feb 2018	Representation service as the Party Responsible for Balancing	15,658.61	6111 / 16.12.2020		1 February 2018		31 January 2021		0	0		Payment is made within 3 working days from the date of receipt by email / fax
Transactions total amount (RON th.):			15,658.61

Due and not due mutual debts of EFSA to SDMN at 22.12.2020: RON 93,265.37 th.

Due and not due mutual debts of SDMN to EFSA at 22.12.2020: RON 1,291.27 th.

Details regarding the transactions concluded by EFSA and TEL on 23 December 2020 of the kind listed in Art. 92^3 of Law No. 24/2017

Parties of the transaction	Agreement Type and No., execution date	Scope of transactions	Amount of transaction (RON th.)	Invoice Number / Date	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties (RON th.)	Payment due dates and payment methods
Buyer: EFSA Seller: TEL
TEL and EFSA	Convention No. 275 / 19 Oct 2020	Sale and purchase of electricity between the parties, as a result of production / consumption imbalances of BRP that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force.	47,980.99	1839 / 23.12.2020 1841 / 23.12.2020	1 September 2020	N/A	6,911	0	Payment is made within a maximum of 5 working days from invoice's issuance date
Buyer: TEL Seller: EFSA
EFSA and TEL	Convention No. 275 / 19 Oct 2020	Sale and purchase of electricity between the parties, as a result of the production / consumption imbalances of PRE that were offset by Transelectrica on the balancing market in accordance with the provisions of the regulations in force.	9,967.00	6139 / 23.12.2020 6154 / 23.12.2020 6140 / 23.12.2020	1 September 2020	N/A	0	0	Payment is made within a maximum of 5 working days from invoice's issuance date
Transactions' total amount (RON th.):			57,947.99

Due and not due mutual receivables of EFSA to TEL at 22.12.2020: RON 35.31 th.

Due and not due mutual debts of EFSA to TEL at 22.12.2020: RON 28,979.87 th.

Details regarding the transaction concluded by EFSA with SNN on 24 December 2020 of the kind listed in Art. 923 of Law No. 24/2017

Seller: SNN

Buyer: EFSA

Parties of the transaction	Agreement Type and No., execution date	Scope of the agreement	Amount (RON th.)		Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties (RON th.)	Payment due dates and payment methods
EFSA and SNN	Transaction No. 36976/ 24 Dec 2020, annex  to EFET contract No. 1561/19 Dec 2018, concluded on PC-OTC	Sale and purchase of electricity	11,554.44		1 January 2021	31 December 2021	40,000 (the guarantee is constituted in order to cover the transactions to be concluded on the basis of the EFET contract no. 1561 between 04.02.2020 until 15.02.2022)	Total cancellation penalties can be calculated at the time of cancellation only, as these are calculated according to the quantity not delivered	Starting with the last calendar day of the contractual delivery month, but not later than the tenth calendar day (10th) of the month following deliveries, the Seller will send to the Buyer an invoice detailing the total quantities of electricity delivered, according to the Schedule of delivery from the previous calendar month. Payment is made latest on the payment deadline written on the invoice, respectively not later than 20 calendar days from the date of receipt of the invoice, by fax or email, from the Seller.
Transactions total amount (RON th.):			11,554.44

Due and not due mutual receivables of EFSA to SNN at 23.12.2020: RON 4.39 th.

Due and not due mutual debts of EFSA to SNN at 23.12.2020: RON 24,477.36 th.

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