EGMS Resolution Effect on Dividend Payment Date

Societatea Energetica Electrica SA

25 April 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: 25 April 2024

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: Effect of the 25 April 2024 EGMS Resolutions on the Dividend Payment Date

Taking into account the approval by the Extraordinary General Meeting of Shareholders (EGMS) of Electrica on 25 April 2024 of the cancellation of Electrica's own shares, respectively of items 2, 3, 4, 5 and 6 on the agenda, we inform shareholders and investors on the following aspects:

According to the provisions of Article 208 (1) of Law 31/1990, the reduction of the share capital can be made only after two months from the day on which the resolution was published in the Official Gazette of Romania, part IV.

At the same time, according to art. 208 par (3) of Law 31/1990, the creditors of the company, whose claims are prior to the publication of the resolution, will be entitled to obtain guarantees for claims that have not become due by the date of such publication, and have the right to oppose this resolution.

Also, in accordance with the provisions of Article 208 (4) of Law 31/1990, the reduction of the share capital has no effect and no payments are made for the benefit of the shareholders until the creditors have obtained the realisation of their claims or adequate guarantees or until the date when the court rejected the request of creditors as inadmissible or, considering that the company offered creditors adequate guarantees or that, taking into account the company's asset, the guarantees are not necessary, it rejected the claim of the creditors as unfounded and the court ruling remained final.

At the same time, the Ordinary General Meeting of Shareholders form 25 April 2024 approved the dividend payment date as 21 June 2024.

Considering the above-mentioned legal provisions, Electrica will not be able to make the dividend payment until the legal time limits provisioned by Law 31/1991 shall not be fulfilled.

Electrica will take all steps to immediately submit the EGMS Resolution to the ORC for publication in the Official Gazette, in the attempt to dimmish the effect on the date of dividend payment.

As the company has clarity on when dividends can be paid, it will inform shareholders and investors accordingly.

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

Chairman of the Board of Directors

Dumitru Chirita

 

END