BUCHAREST - Romanian state-controlled natural gas producer S.N.G.N. Romgaz S.A. has disclosed details of a recent financial transaction with a related banking entity. According to a statement released on Thursday, December 12, 2024, Romgaz has placed a term deposit of RON 80,000,000 (approximately USD 19 million) with Exim Banca Romaneasca S.A., at an annual interest rate of 6.18%, maturing on January 27, 2025.
This transaction follows a series of deposits made by Romgaz with Exim Bank throughout the latter part of 2024, with the cumulative value of these deposits over the past 12 months surpassing the materiality threshold of 5% of the company's net asset value and 10% of its net turnover for the 2023 financial year.
The company's report included a list of eight other deposits ranging from RON 50,000,000 to RON 200,000,000 with varying interest rates from 5.37% to 5.90%, and maturity dates spanning from December 16, 2024, to January 27, 2025. These deposits represent a continuation of Romgaz's treasury management activities and reflect the current interest rate environment in Romania.
Romgaz is listed on both the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE), and the disclosure of these transactions is in line with regulatory requirements aimed at ensuring transparency in dealings with affiliated entities.
The company's actions are governed by Article 108 of Law 24/2017 on Issuers of Financial Instruments and Market Operations, as well as Article 234 paragraph 1, item i) of the F.S.A. Regulation No. 5/2018 on Issuers of Financial Instruments and Market Operations.
The information regarding this financial activity is based on a press release statement from Romgaz, which is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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