Discontinuance agreement the Company concluded with SMART SA

Published: 7/12/2019 4:45:58 PM

IRIS Code: 7E76F


To the: Bucharest Stock Exchange – Department of Operations Issuers Regulated Markets

            Financial Supervision Authority - General Directorate Supervision - Issuers Division

Current report as per the provision of Law 24/2017, ASF Regulation 5/2018 and BVB Code

Date of the report: July 12, 2019

Name of Issuer Company: CNTEE TRANSELECTRICA SA, Company Managed under Two-tier System

Headquarters: Blvd. Gheorghe Magheru 33, Bucharest 1

Working location: Str. Olteni 2-4, Bucharest 3

Phone / fax numbers: 021 30 35 611/021 30 35 610

Single registration code with the Office of the Trade Register: 13328043

LEI Code: 254900OLXCOUQC90M036

Number in the Trade Register: J40/8060/2000

Share capital subscribed and paid: 733.031.420 RON

Regulated market where the issued securities are transacted: Bucharest Stock Exchange


Event to report

In accordance with the obligations set in the capital market legislation, by referral to the information included in:

-       The current reports disseminated according to article 225 of L-297/2004 on 08.06.2016 and on 04.01.2017 by means of the capital market institutions pertaining to the following legal deeds: C 99/2016 “Upgrading the 220/110 kV substation Dumbrava” and C 259/2016 “Upgrading the 220/110 kV electric substation Raureni” concluded with subsidiary SMART,

-       The TEL communique disseminated on 04.04.2019 with respect to “investment projects in substations DUMBRAVA, RAURENI and AREFU”, 

The National Power Grid Company Transelectrica SA informs the interested public that on 21.06.2019 the suspensive conditions were met as provided in the clauses of the discontinuance agreement the Company concluded with its subsidiary, namely C777/06.06.2019 and C778/06.06.2019 pertaining to the fore-mentioned legal deeds (C 99/2016 and C 259/2016).

Beginning with 21.06.2019 when the discontinuance agreements for C 99/2016 and C 259/2016 have become effective, the parties are obliged within 30 days, namely by 21.07.2019, to carry out the following formalities: Report on the delivered products, provided services and executed work, the amounts the parties owe each other accorrding to contractual provisions and hand-over/take-over minutes for manufactored products.

As regards the impact of discontinuing the two contracts over SEN safety CNTEE Transelectrica SA took measures in order to prevent impacting the operational safety:

-       Provisional work was performed in substation DUMBRAVA providing safe operation of the area;

-       Substation RAURENI operates under normal conditions and additional maintenance services were provided;


Marius – Danut CARASOL


Alina – Elena TEODORU

Executive Director General

Directorate Chairman

Directorate Member