BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), a leading Romanian energy company, has announced the completion of significant transactions with OPCOM, a related party, that have surpassed the 5% threshold of Electrica's net assets. The transactions in question occurred between November 5, 2024, and December 31, 2024, and exceeded the value of RON 200,247,479, based on Electrica's financial statements as of June 30, 2024.
The transactions between Distributie Energie Electrica Romania SA (DEER), a subsidiary of Electrica, and OPCOM, are detailed in an annex released by the company. This annex includes information on the execution dates, types, scope, total value, expiry date, mutual debts and receivables, guarantees, penalties, and payment due dates and methods. Electrica has provided this information in compliance with Article 108 of Law No. 24/2017, which governs transactions with related parties.
It is noted that some invoices from the previously reported period were received after the last reporting date of November 4, 2024, due to reasons beyond DEER's control. Consequently, the transactions related to these invoices have been included in the current report.
Electrica's shares are traded on both the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE). The company has made this disclosure to its shareholders and investors as part of its commitment to transparency and in compliance with the regulations set forth by the Romanian Financial Supervisory Authority (FSA) and the Bucharest Stock Exchange Code.
The announcement was made in a current report filed on Thursday by Electrica's CFO, Stefan Frangulea. This report is based on a press release statement and adheres to the regulatory requirements for reporting related party transactions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.