BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), a major Romanian utility company, has disclosed the completion of significant related party transactions between its subsidiary Electrica Furnizare SA (EFSA) and Compania Nationala de Transport al Energiei Electrice Transelectrica S.A. (TEL). The transactions, which took place from October 25 to December 27, 2024, have surpassed the 5% threshold of Electrica's net assets, based on the company's financial statements as of June 30, 2024.
Electrica, which trades on both the Bucharest Stock Exchange (BSE) and the London Stock Exchange (LON:LSEG) (LSE), has reported that the cumulative value of these transactions exceeded RON 200,247,479. The announcement was made in compliance with the Law 24/2017 on issuers of financial instruments and market operations, as well as FSA Regulation no. 5/2018 and the Bucharest Stock Exchange Code.
The detailed information regarding the nature of these transactions, including the execution date, transaction type, description, total value, expiration date, mutual debts and receivables, guarantees, penalties, payment due dates, and methods, has been made available in an annex to the report. This annex can be accessed through the London Stock Exchange news service.
Stefan Frangulea, Chief Financial Officer of Electrica, has been identified as the provider of this information. The company has not disclosed further details about the implications of these transactions for its operations or financial position.
This disclosure is part of Electrica's commitment to transparency with its shareholders and investors, ensuring that all relevant financial transactions are reported in accordance with regulatory requirements. The information is based on a press release statement from the company.
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