BUCHAREST - Societatea Energetica Electrica S.A. (Electrica), a major Romanian energy company listed on the Bucharest Stock Exchange (BSE) and London Stock Exchange (LON:LSEG) (LSE), has disclosed transactions with a related party that surpass a significant financial threshold. The transactions were conducted by Electrica’s subsidiary, Electrica Furnizare SA (EFSA), with Compania Nationala de Transport al Energiei Electrice Transelectrica S.A. (TEL), a national electricity transmission company.
Between March 1 and May 16, 2025, EFSA engaged in several transactions with TEL. The cumulative value of these transactions exceeded 5% of Electrica’s net assets, based on the company’s financial statements as of December 31, 2024. The threshold crossed is the equivalent of over RON 200,489,933, as per Electrica’s announcement.
The report provided by Electrica, in compliance with the Law 24/2017 on issuers of financial instruments and market operations, as well as FSA Regulation no. 5/2018, includes detailed information about the transactions. The annex to the report, which was not presented in the news article, contains specifics such as the dates of execution, types of transactions, descriptions of their scopes, total values, expiration dates, mutual debts and receivables, guarantees, penalties, payment due dates, and payment methods.
Electrica’s Chief Financial Officer, Stefan Frangulea, confirmed the completion and execution of these transactions. This disclosure ensures transparency for shareholders and investors, aligning with regulatory compliance standards.
The transactions between EFSA and TEL are part of Electrica’s regular business operations, as related party transactions are common within corporate structures that include subsidiaries and affiliated companies.
The information regarding these transactions is based on a press release statement from Electrica and has been disseminated via RNS, the news service of the London Stock Exchange. This service is authorized by the Financial Conduct Authority in the United Kingdom to provide primary information. Terms and conditions related to the use and distribution of this information may apply.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.