Electrica Discloses Related Party Transactions
BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), a key player in the Romanian energy sector, has recently informed its shareholders and investors about a series of significant transactions with associated companies. These transactions have crossed the critical limit of 5% of the company’s net assets, signaling a notable movement within Electrica’s financial landscape.
Details of the Transactions
Between December 5 and December 27, 2024, Electrica engaged in transactions involving its subsidiaries, Distributie Energie Electrica Romania SA (DEER) and Electrica Furnizare SA (EFSA). The cumulative value of these transactions exceeds RON 200,247,479, as indicated in Electrica's financial data from June 30, 2024. The documentation accompanying this report includes meticulous details such as execution dates, transaction types, total financial values, due dates for payments, guarantees, and mutual obligations.
Compliance with Financial Regulations
Electrica is publicly listed on both the Bucharest Stock Exchange and the London Stock Exchange (LON:LSEG). The company has adhered to regulatory standards, specifically Law 24/2017 regarding financial instruments and market operations, as well as compliance with ASF Regulation no. 5/2018 and the Bucharest Stock Exchange Code. These disclosures reflect Electrica's commitment to regulatory transparency and shareholder information.
Commitment to Transparency
The report, endorsed by the company’s Chief Financial Officer, Stefan Frangulea, serves as a routine yet essential communication to the investment community. It underscores Electrica's dedication to maintaining an open dialogue regarding substantial financial activities within its operations. This announcement not just meets the legal requirements but also reinforces the bond of trust between Electrica and its investors, ensuring that they are well-informed about critical business activities.
Frequently Asked Questions
What type of transactions are disclosed by Electrica?
Electrica has reported related party transactions involving its subsidiaries that exceed 5% of its net assets.
What is the total value of these transactions?
The total value of the reported transactions is over RON 200,247,479 based on financial statements as of June 30, 2024.
Which regulatory standards is Electrica complying with?
Electrica complies with Law 24/2017, ASF Regulation no. 5/2018, and the Bucharest Stock Exchange Code.
Why is transparency important for Electrica?
Transparency helps maintain trust with shareholders and the investment community, ensuring they are aware of significant financial dealings.
Who signed off on the report?
The report was signed by Stefan Frangulea, Electrica's Chief Financial Officer.
