Current Report No.: 2/2013
Current Report No.: 2/2013
Date of preparation: 11.01.2013
Short name of issuer: ENEA S.A.
Subject: Exceeding of the total value of intergroup transactions between ENEA S.A. and ENEA Trading Sp. z o.o. the 10% threshold of the equity of ENEA S.A.
Legal basis: Article 56 item 1(2) of the Act on Offerings - current and periodic information
Content of report:
The Management Board of ENEA S.A. (Issuer) informs that in relation to the settlement on 10 January 2013 of another transaction between the Issuer and ENEA Trading Sp. z o.o. (ENEA Trading, Seller) the total value of intergroup transactions settled in the period from 6 June 2012, i.e. the date on which the Issuer published the current report No. 21/2012, exceeded the threshold of 10% of the Issuer's equity considered by the Issuer to be a criterion of recognising agreements as significant and amounted to PLN 1,069.7 mln. The aforementioned amount comprises mainly transactions within the trade in energy and in the remaining part e.g. transactions in proprietary interests.
The transaction with the highest value was the sales transaction for ENEA S.A. of electricity amounting to PLN 46.7 mln which was settled on 1 August 2012 (the Transaction). The price of electricity being the subject of the Transaction was calculated in accordance with the purchase prices of this energy by the Seller on the wholesale electricity market. Regarding the transactions within trading in electricity the parties have no option to claim contractual penalties. On failure to perform or improper performance of the Transaction its parties have the right to claim damages based on general terms. The volumes of electricity sold in a given settlement period are determined based on execution plans and their updates and are based on the volume of electricity reported and accepted for realisation by the operator of the transmission system in a given settlement period.
The rules being in force for performing and settlement of transactions will be biding upon the parties till 31 October 2019 and will be automatically prolonged for an indefinite period of time, unless any party within three months the latest before the expiry of the aforementioned term files a written statement to the other party concerning the termination of the said rules.
At the same time, the Issuer informs that the above transactions were concluded within regular operations of companies from the ENEA Capital Group and because of the transactions excluded from the consolidation have no impact on the consolidated results of the ENEA Capital Group.
At this point, referring to the extended consolidated report for Q3 2012 of ENEA S.A. published on 14 November 2012, the Issuer reminds that as of 18 November 2012 a change was registered in the National Court Register of the name of ELKO Trading Sp. z o.o. to ENEA Trading Sp. z o.o.
