Electrica Completes Key Transactions with OPCOM for Growth

Electrica’s Recent Transactions with OPCOM Unveiled

BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), an influential player in the Romanian energy market, has disclosed important transactions completed with OPCOM, a related party, exceeding the 5% threshold of Electrica's net assets. These transactions were executed within a timeframe that spanned several months, demonstrating the company’s proactive management of its business relationships.

Details of Related Party Transactions

Between November 5, 2024, and December 31, 2024, the value of these transactions amounted to RON 200,247,479, as detailed in Electrica's financial statements dated June 30, 2024. The specific transactions involved Distributie Energie Electrica Romania SA (DEER), a subsidiary of Electrica, collaborating closely with OPCOM, allowing them to leverage shared resources and expertise.

Transparency in Business Operations

In line with regulatory compliance, Electrica released an annex outlining specifics of the transactions. This annex documented key factors including execution dates, transaction types, scope, total value, expiry dates, and details on mutual debts and receivables. Electrica ensures transparency by providing this comprehensive data in adherence to Article 108 of Law No. 24/2017, which addresses related party transactions.

Challenges and Reporting Transparency

It’s important to note that some invoices from the prior period were received post the reporting date of November 4, 2024, mainly due to circumstances outside DEER's influence. As a result, these transactions were reported in the current financial disclosures. This demonstrates Electrica's commitment to transparency, ensuring that stakeholders are kept informed about all relevant developments.

Commitment to Stakeholders

Electrica’s shares are actively traded on the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LSEG). The company’s leadership emphasizes transparency in its communication with stakeholders, ensuring that all relevant information is disclosed in a timely manner. This initiative not only fosters trust among investors but also aligns with the regulatory standards outlined by the Romanian Financial Supervisory Authority (FSA) and the Bucharest Stock Exchange Code.

Regulatory Compliance and Corporate Governance

The disclosure was primarily filed by Electrica's CFO, Stefan Frangulea, illustrating the company’s dedication to maintaining high corporate governance standards. By adhering to regulations and timely reporting, Electrica reinforces its role as a responsible entity within the energy sector.

Implications for Electrica’s Future

These transactions may indicate strategic positioning by Electrica as it navigates the evolving energy landscape. Engaging with related parties such as OPCOM could potentially enhance Electrica's operational efficiency, supporting its mission to deliver reliable energy solutions. Furthermore, by reporting these transactions, Electrica reassures its partners and investors of its commitment to ethical business practices.

Frequently Asked Questions

What were the recent transactions between Electrica and OPCOM?

Electrica disclosed significant transactions with OPCOM that exceeded RON 200 million, demonstrating a strategic partnership between the entities.

How does Electrica ensure transparency with its stakeholders?

Electrica provides detailed annexes that outline transaction specifics to comply with regulations and ensure stakeholders are fully informed.

What regulations guide Electrica's reporting of related party transactions?

The reporting is governed by Article 108 of Law No. 24/2017, which stipulates compliance for transactions involving related parties.

Who is responsible for the recent disclosures at Electrica?

The disclosures were filed by Stefan Frangulea, the CFO of Electrica, as part of the company’s commitment to transparency.

Why are the transactions significant for Electrica's operations?

These transactions reflect Electrica's strategy to build strong operational ties, which could enhance overall efficiency and investor confidence in the company's growth plans.

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