Last checked at 28 Sep 2015 13:05
CURRENT REPORT
In compliance with the Romanian Capital Market Law No. 297/2004, Art.224 and
CNVM Regulation No. 1/2006
Report date: 28 September, 2015Company name: Societatea Nationala de Gaze Naturale ROMGAZ S.A.
Address: Medias, 4 Constantin I. Motas Square, Sibiu County - Romania, 551130Phone/fax no: 004-0269-201020 / 004-0269-846901
Fiscal Code: RO14056826
Trade Register registration number: J32/392/2001
Subscribed and paid in share capital: 385,422,400 RON
Regulated market where the issued securities are traded: Bucharest Stock Exchange
(BVB), London Stock Exchange (LSE)
Significant events to be reported:
· Continuing the contractual relationship with S.C. Electrocentrale Bucuresti S.A.
The commercial relationship between S.N.G.N. ROMGAZ S.A. and S.C. Electrocentrale Bucuresti S.A. is performed under the gas sale-purchase Contract No. 15/2009, as supplemented by addenda 1 - 20. This contract expires on September 30, 2015.
Further to high overdue debt of Electrocentrale Bucuresti, the Board of Directors of S.N.G.N. ROMGAZ S.A. decides, under Resolution No. 15/September 24, 2015, as follows:
a) Extension of the gas sale-purchase Contract No. 15/ September 24, 2015, concluded between S.N.G.N. ROMGAZ S.A. and S.C. Electrocentrale Bucuresti S.A., until October 15, 2015;
b) Gas volumes to be contracted under the Addendum will be nominated on the basis of the payments made prior to nominations;
c) Continuation of the contractual relationship after October 15, 2015 will be possible provided that Electrocentrale Bucuresti S.A. submits, before such date, a firm program for extinguishment of overdue debt to S.N.G.N. ROMGAZ S.A.;
d) If the program mentioned under item c) above is not submitted, the gas deliveries will cease starting from October 16, 2015.
The Company management will notify S.C. Electrocentrale Bucuresti S.A. and will inform S.C. Electrocentrale Bucuresti S.A.'s major shareholder upon this decision of the Board of Directors of S.N.G.N. ROMGAZ S.A.
Director General,
Virgil - Marius METEA