Related parties transactions DEER - Hidroelectrica

Societatea Energetica Electrica SA

16 October 2023

 

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: 16 October 2023

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 (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 Distributie Energie Electrica Romania SA (DEER), subsidiary of Societatea Energetica Electrica SA (Electrica) and Hidroelectrica SA

Electrica informs its shareholders and investors about the conclusion/execution, in the period 17 February - 13 October 2023 of some transactions between DEER, Electrica's subsidiary, and Hidroelectrica, whose cumulated value exceeds the threshold of 5% of Electrica's net assets, according to Electrica's individual financial statements at 30 June 2023, respectively exceeds the value of RON 198,490,436.

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.

CFO

Stefan Frangulea       

Annex: Details regarding the transactions concluded by DEER and Hidroelectrica between 17 February - 13 October 2023 of the kind listed in Art. 108 of Law No. 24/2017

Agreement Type and No., execution date	Scope of transactions	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
Provider: DEER Beneficiary: Hidroelectrica
Agreement 19875/9Jun2021 (DEER - TN zone and Hidroelectrica)	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network	66,295.51	9 Jun 2021	undetermined	2,392.95	See Note 1	Payment is made in 10 working days from the date of receipt of the invoice
	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network - interventions in the distribution network (RED)	1.32
Agreement 19875/9Jun2021 (DEER - TS zone and Hidroelectrica)	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network	53,537.98
	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network - interventions in the distribution network (RED)	1.17
	Tariff for issuing technical approval for connection related to request no. 7020230521148 for the objective CHE LOTRIOARA - 110kV STATION located in SIBIU District BOITA, No. CHE according to ANRE Order no. 114/2014 with subsequent amendments	0.07
Agreement 19875/9Jun2021 (DEER - MN zone and Hidroelectrica)	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network	70,094.78
	Delivery of the electricity distribution service by the distribution operator for the users, end customers of the supplier, whose installations are connected to the distribution operator's electrical network - interventions in the distribution network (RED)	6.86
Agreement Type and No., execution date	Scope of transactions	Amount (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
Agreement no. MN7911/26Jun2023 (DEER - MN zone and Hidroelectrica)	Elaboration of study solution - third parties	65	N/A	N/A	N/A	N/A	N/A
Without agreement	Issuance of Notice RAC for RED	0.16	8 May 2023	23 May 2023	N/A	N/A	N/A
	Issuance of construction location note		26 May 2023	7 Jul 2023
	Elaboration of study solution - third parties		20 Sep 2023
	Elaboration of study solution - third parties		20 Sep 2023
Provider: Hidroelectrica Beneficiary: DEER
DEER 2220/20.04.2022	purchase of electricity through direct negociation	1,764.96	1 Jan 2023	31 Mar 2023	1,836.22	See Note 2	The invoice is issued in the first three working days of the month immediately following the month of delivery and will be paid at the latest on the 10th calendar day of the month following the month of delivery, and if this is a non-working day, the payment will be made on the immediate working day next; the invoice is considered paid on the date of payment registration in the seller's bank statement
DEER 3327/28.06.2022		638.40	1 Feb 2023	28 Feb 2023	767.29
DEER 3330/28.06.2022		3,343.50	1 Mar 2023	31 Mar 2023	4,018.55
DEER 3564/12.07.2022		638.40	1 Feb 2023	28 Feb 2023	767.29
DEER 3566/12.07.2022		3,343.50	1 Mar 2023	31 Mar 2023	4,018.55
DEER 3925/27.07.2022		2,143.73	1 Jan 2023	31 Mar 2023	2,249.96
DEER 3924/27.07.2022		2,143.73	1 Jan 2023	31 Mar 2023	2,249.96
Agreement 3015/22Apr2005 AD 1/2021	providing the distribution service	197.53	8 Apr 2005	31 Dec 2023	N/A	See Note 3	The client will pay the invoice within 10 working days from the date of its registration with the client
Convention 103406/23Apr2015	Common use and distribution of expenses for the following locations: - Hidroelectrica - Hidrocentrale Cluj Sub. (SH) - SSH Hidroserv- Cluj Branch - S Teletrans SA - Cluj Agency (TLT) - CN Transelectrica SA - DET Cluj (DET) - FDEE - SDEE Cluj	12.64	29 Sep 2015	N/A	N/A	See Note 4	15 days from issuing the invoice

Total executed amount during 17 February - 13 October 2023: RON 204,229.23 th

Due and not due mutual receivables of DEER from Hidroelectrica on 12 October 2023: RON 28,630.06 th.

Due and not due mutual debts of DEER to Hidroelectrica on 12 October 2023: RON 27.01 th.

Note 1: 0.02% (penalty interest as a percentage of the interest due for non-payment of obligations to the state budget on time), calculated for each day of delay starting with the first day after the due date until the day of payment (exclusively). There is a 30 calendar day grace period.

Note 2: Non-payment of the amounts owed by the Buyer according to the payment deadlines additionally entails the payment of penal interest, as follows calculated for each day of delay, starting with the day immediately following the due date and up to the date of payment of the amount owed, including; the level of penal interest is 0.1% for each day of delay.

Note 3: In case of non-fulfilment within 30 days from the due date of the obligations, the client will pay, in addition to the amount due, a penalty corresponding to this amount as a percentage of the interest due for non-payment of the obligations on time to the state budget, for each day of delay compared to due date, until the day of payment (exclusively).

Note 4: If the invoice is not paid within 30 days from the due date, the penalty amount is 0.03% for each day of delay.

 

END