BUCHAREST - Romanian state-controlled natural gas producer S.N.G.N. Romgaz S.A. has disclosed a new term deposit transaction with Exim Banca Romaneasca S.A., in line with the transparency requirements set forth by local financial regulations.
The company, which is listed on both the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE), announced the opening of a non-auto-renewable term deposit on Monday with a total value of RON 55,000,000.00 (approximately USD 13.2 million), set to mature on January 20, 2025. The interest rate for this deposit is 5.83% per annum.
This transaction is part of a series of deposits that have been made by Romgaz with Exim Banca Romaneasca S.A. over the past 12 months. The cumulative value of these deposits has exceeded the materiality threshold, which is defined as 5% of the company's net asset value and 10% of the net turnover according to the financial results of the year 2023. Several of these deposits have matured prior to the latest transaction.
The announcement comes as part of a regular report detailing the company's financial activities in compliance with Article 108 of Law 24/2017 and Article 234 of the F.S.A. Regulation No. 5/2018, which govern issuers of financial instruments and market operations in Romania.
The report also provided information on previous deposits, including their amounts, opening dates, maturity dates, and interest rates, which ranged from 5.37% to 5.65%.
This move by Romgaz reflects the company's ongoing financial management activities and is based on a press release statement. It is important to note that the information provided does not imply any endorsement of the company's financial decisions or future performance.
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