BUCHAREST - Romanian state-controlled natural gas producer S.N.G.N. Romgaz S.A. has established a term deposit with Exim Banca Romaneasca S.A. for RON 123 million ($28.4 million), due on January 27, 2025, with an annual interest rate of 5.90%. This transaction was negotiated on November 28, 2024, and complies with Article 108 of Law 24/2017 regarding issuers of financial instruments and market operations.
The deposit is part of a series of placements Romgaz has made with Exim Banca Romaneasca S.A., where the cumulative value over the past 12 months has exceeded the materiality threshold, as defined by the company's financial metrics for the year 2023. These thresholds are 5% of the net asset value and 10% of the net turnover.
According to the report, several other deposits were made starting from October 1, 2024, with varying maturity dates and interest rates ranging from 5.37% to 5.90%. These deposits are part of Romgaz's treasury management strategy and reflect the company's approach to managing its financial resources.
Romgaz is listed on both the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE). The company's actions in securing this deposit align with regulatory requirements and demonstrate transparency in its financial dealings with related parties.
The interest rates applied to these deposits have been negotiated based on prevailing market conditions. Romgaz's strategy of placing term deposits with Exim Bank has been ongoing, with some deposits maturing before the date of the newly negotiated deposit.
This financial activity is disclosed in line with the company's commitment to transparency and adherence to market regulations. The information regarding these transactions is based on a press release statement from Romgaz.
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