This site uses cookies. Details can be found on the subpage Privacy Policy.


Current Report No.: 4/2015

Title: Information on intergroup transactions between ENEA Wytwarzanie Sp. z o.o. and ENEA Trading Sp. z o.o.
Date: 2015.10.02
Report no.:  Current Report No.: 4/2015

Current Report No.: 4/2015

Date of preparation: 10.02.2015

Short name of issuer: ENEA S.A.

Subject: Information on intergroup transactions between ENEA Wytwarzanie Sp. z o.o. and ENEA Trading Sp. z o.o.

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 9 February 2015 of another transaction between ENEA Wytwarzanie Sp. z o.o. (ENEA Wytwarzanie), and ENEA Trading Sp. z o.o. (ENEA Trading) the total value of intergroup transactions of sales concluded from 10 February 2014 amounted to PLN 1,169.4 mln.

The aforementioned amount comprises mainly transactions within trade in electricity, and in the remaining part e.g. transactions in proprietary interests.

The transactions of the highest value being components of the above mentioned turnover between ENEA Wytwarzanie and ENEA Trading is a block of transactions concluded on 27 March 2014 totalling to PLN 36.8 mln. The transactions mentioned above included sales of electricity based on detailed designs and their updates and were based on the volume of electricity which was reported and which is received by the operator of the power system in a given settlement period. The transactions mentioned above will be settled in 2015. Within the transactions described above 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 under the general terms.

The aforementioned total value of the intergroup transactions exceeds the threshold of 10% of the Issuer's equity which is the criterion for recognising agreements as significant.

The rules being in force for performing and settlement of transactions between ENEA Trading and ENEA Wytwarzanie are valid until 30 January 2019 and will be automatically prolonged for an indefinite period of time, unless any party within six 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 ENEA Capital Group companies and due to exclusions from the consolidation they have no impact on the consolidated results of ENEA Capital Group.

Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.