BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), a major Romanian energy company, has disclosed a series of significant transactions with related parties, specifically between its subsidiary Electrica Furnizare SA (EFSA) and OPCOM, an energy market operator. According to a report issued on Friday, the cumulative value of these transactions, which took place from December 1 to December 31, 2024, exceeded 5% of Electrica's net assets as per the company's financial statements dated June 30, 2024, surpassing the threshold of RON 200,247,479.
The transactions in question were conducted in compliance with Article 108 of Law No. 24/2017, which governs issuers of financial instruments and market operations. Electrica, which is listed on both the Bucharest Stock Exchange (BSE) and the London Stock Exchange (LON:LSEG) (LSE), is required by regulation to report such transactions to maintain transparency with its shareholders and investors.
Details of the transactions, including execution dates, types, scope, total values, expiry dates, mutual debts and receivables, guarantees, penalties, and payment due dates and methods, are provided in an annex to the report. The report specifies that invoices for these transactions are issued on the last day of the delivery month and are sent electronically within the first few working days of the subsequent month.
The announcement made by Electrica's CFO, Stefan Frangulea, ensures that the company adheres to the regulations set forth by the Romanian Financial Supervisory Authority (FSA) and the FSA Regulation no. 5/2018, as well as the Bucharest Stock Exchange Code.
This report is based on a press release statement and provides a factual overview of Electrica's disclosed financial activities involving its subsidiary and OPCOM, without promotional content. The disclosed transactions reflect the company's ongoing business operations and adherence to legal and regulatory requirements for financial transparency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.