Transactions related parties - EFSA and CEO

RNS Announcement

RNS Number : 2429C

Societatea Energetica Electrica SA

15 October 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: 15 October 2020

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 (BVB) and London Stock Exchange (LSE)

Significant events to be reported: Transactions reported according to Art. 92³ para (12) of Law No. 24/2017 concluded by Electrica Furnizare SA (EFSA), subsidiary of Societatea Energetica Electrica SA (Electrica), with Complexul Energetic Oltenia (CEO)

Electrica informs its shareholders and investors about the conclusion, on 15 October 2020, of several transactions between EFSA, Electrica's subsidiary, and CEO, 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 15 October 2020 by EFSA, as buyer, with CEO, as seller, 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 Annex 1.

Chief Executive Officer

Georgeta Corina Popescu

Annex 1: Details regarding the transactions concluded by EFSA with CEO on 15 October 2020 of the kind listed in Art. 923 of Law No. 24/2017

Seller: CEO

Buyer: EFSA

Parties of the transaction	Agreement Type and No., execution date	Scope of transaction	Amount of transaction (RON th.)	Date of entry into force	Expiry date	Guarantees (RON th.)	Penalties	Payment due dates and payment methods
CEO and EFSA	Contract No. 1858/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	10,758.59	1 January 2021	31 December 2021	1,179.02	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 884.27 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 884.27 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1859/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	10,759.03	1 January 2021	31 December 2021	1,179.07	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 884.30 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 884.30 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1860/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	10,763.85	1 January 2021	31 December 2021	1,179.60	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 884.70 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 884.70 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1861/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	10,756.84	1 January 2021	31 December 2021	1,178.83	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 884.12 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 884.12 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1862/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,504.92	1 January 2021	31 December 2021	2,356.70	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 1,767.53 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 1,767.53 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1863/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,504.92	1 January 2021	31 December 2021	2,356.70	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 1,767.53 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 1,767.53 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
CEO and EFSA	Contract No. 1864/CEO/15 Oct 2020, following the transactions dated 12 Oct 2020 on OPCOM platform, awarded through PCCB-LE-Flex auction	Sale and purchase of electricity	21,505.80	1 January 2021	31 December 2021	2,356.80	Interest for late payment shall be calculated for each day of delay, starting on the day immediately following the due date and until the date of payment of the amount due, excluding the day of payment. The interest rate for late payment is 0.05% for each day of delay, calculated on the outstanding amount. Compensation of RON 1,767.60 th in case of non-submission by EFSA of the guarantees provided in the contract in favor of the CEO. Additional compensations of RON 1,767.60 th, in case of cancellation. The total compensatory amount in case of cancellation can be calculated only at the time of cancellation, because it is calculated according to the quantity not delivered and the price calculated according to the contractual provisions.	The invoice is issued after delivery, in two installments: - on the 15^th of the delivery month, for the energy delivered in the first 15 days of the month, - on the last working day of the delivery month for the delivered energy from the 16^th to the last day of the month of delivery Payment is made until the 25^th of the month in case of invoices issued for the first 15 days of delivery and until the 10th of the month following the contractual month of delivery in case of invoices the invoice issued for energy delivered from the 16^th to the last day of month of delivery.
Total amount (RON th.):			107,553.97

Due and not due mutual debts of EFSA towards CEO at 14.10.2020: RON 33,569.80 th

Due and not due mutual receivables of EFSA from CEO at 14.10.2020: RON 2.50 th

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MSCFFEFDIESSEES

RNS metadata

Title: Transactions related parties - EFSA and CEO
Time: 14:23:46
Date: 15 Oct 2020
Category: Miscellaneous
ID: 2429C