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BUCHAREST - Societatea Energetica Electrica SA (Electrica), a major Romanian power company, disclosed a series of transactions with its subsidiary Electrica Furnizare SA (EFSA) and the hydroelectric company S.P.E.E.H. Hidroelectrica (Hidroelectrica), surpassing the 5% threshold of Electrica’s net assets based on the financial statements as of December 31, 2024. These transactions, cumulatively valued over RON 200,489,933, occurred between June 14, 2024, and today.
The transactions between EFSA and Hidroelectrica include various operations detailed in an annex provided to the Bucharest Stock Exchange (BSE) and the London Stock Exchange (LON:LSEG) (LSE), where Electrica’s securities are traded. The disclosed information encompasses the execution date, transaction type, scope, total value, expiry date, mutual debts and receivables, guarantees, penalties, payment due dates, and methods of the transactions.
Electrica’s announcement aligns with compliance requirements set by Law No. 24/2017 on issuers of financial instruments and market operations, as well as ASF Regulation no. 5/2018 and the Bucharest Stock Exchange Code. The communication aims to maintain transparency with shareholders and investors regarding the company’s financial activities, particularly those involving related parties which could have a significant impact on the company’s assets.
The report does not elaborate on the specific nature or expected impact of these transactions on Electrica’s operations or financial performance. The company’s Chief Financial Officer, Stefan Frangulea, is listed as the representative for this announcement.
This disclosure is based on a press release statement and is intended to inform stakeholders about the relevant financial activities of Electrica and its associated entities within the specified timeframe. The details provided in the annex are expected to offer further insight into the financial dealings between Electrica and Hidroelectrica.
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