Resolution of EFSA Litigation - Case 1927/2/2019

Societatea Energetica Electrica SA

16 May 2024

 

To:                              Bucharest Stock Exchange (BSE)

                                    London Stock Exchange (LSE)

Romanian Financial Supervisory Authority (FSA)

Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, the Romanian Capital Market Law no. 297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 16 May 2024

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1^st District, Bucharest, Romania

Phone/fax no.: 004-021-208035/004-021-2085998

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: Settlement of case Electrica Furnizare file 1927/2/2019, Bucharest Court of Appeal

Electrica informs shareholders and investors that, on 08.05.2024, the Bucharest Court of Appeal resolved in the first instance file no. 1927/2/2019, by rejecting the action as unfounded.

Detailed information on this file was presented to shareholders through the current report published on August 18, 2023 (see current report BSE:IRIS code 29DB6 and LSE:RNS code 8229J).

The complete resolution of the court: "It rejects the exception of lack of interest invoked by E.ON Energie Romania SA, the exception of inadmissibility, the exception of  lack of interest, the exception of remaining without object, the exception of the res judicata authority invoked by Electrica Furnizare SA, as unfounded. Reject the action as unfounded. The decision can be appealed within 15 days from the communication."

We remind investors that the object of the court file no. 1927/2/2019 is the request submitted by SPEEH Hidroelectrica S.A. against ANRE, EFSA having the quality of intervener (at ANRE's request, together with the other last resort suppliers in Romania), through which SPEEH Hidroelectrica S.A. requested:

i.          the partial annulment of the ANRE President's Decision no. 324/25.02.2019 regarding the establishment of regulated prices for delivered electricity and quantities of electricity sold based on regulated contracts between 1 March 2019 and 31 December 2019 by SPEEH Hidroelectrica S.A.;

ii.         issuing a Decision approving the regulated price for the electricity sold by SPEEH Hidroelectrica, between 1 March 2019 and 31 December 2019, based on regulated contracts concluded with suppliers of last resort in compliance with legal provisions;

iii.        the payment to Hidroelectrica of the amounts representing the damage suffered as a result of the effects of the ANRE President's Decision no. 324/25.02.2019, the amount to which is added the legal interest related to the loss suffered, damage related to the period 1 March 2019 to 31 December 2019.

Contact details: Electrica Investor Relations - [e-mail] ; [phone]

Head of Legal            

Stefania Andruhovici 

 

END