Current Report No.: 16/2016
Current Report No.: 16/2016
Date of preparation: 19.05.2016
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 19 May 2016 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 concluded between the above mentioned entities from 23 November 2015, i.e. from the date of publication of the current report No. 54/2015 amounted to PLN 1,037.4 mln. The aforementioned amount includes transactions within electricity trading.
The transaction of the highest value constituting the value of turnover between Enea Wytwarzanie and Enea Trading is a transaction settled on 27 November 2015 totalling to PLN 37.9 mln. The transaction mentioned above comprised sales of electricity based on detailed designs and their updates and was 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 transaction mentioned above will be realised in 2016. 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 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 notice 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 Group companies and due to consolidation exclusions they have no impact on the consolidated results of Enea Group.
