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S.N.G.N. ROMGAZ S.A. - SNG

Iernut Power Plant Contract termination

Release Date: 4/2/2021 5:52:02 PM

IRIS Code: 84AA2

CURRENT REPORT

In compliance with Law no. 24/2017 regarding Issuers of Financial Instruments and  Market Operations  and A.S.F. Regulation no. 5/2018

 

Report date: April 2, 2021

Company name: Societatea Nationala de Gaze Naturale ROMGAZ S.A.

Address: Medias, 4 Constantin I. Motas Square, Sibiu County – Romania, 551130

Phone/fax no: 004-0374-401020 / 004-0269-846901

Fiscal Code: RO14056826

LEI Code: 2549009R7KJ38D9RW354

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:

 

·     Termination of Public Procurement Contract No. 13384/2016 for performing the turnkey project Development of Iernut Power Plant by Building a New 430 W power plant, with Combined Cycle Gas Turbine concluded between S.N.G.N. ROMGAZ S.A as Purchaser and Consortium consisting from DURO FELGUERA S.A. and S.C. ROMELECTRO S.A. as Executor

 

In compliance with the provisions of Law No. 24/2017 and Article 234, paragraph 1, letter i) from F.S.A. Regulation No 5/2018, S.N.G.N. ROMGAZ S.A. informs its shareholders and investors upon the fact that, following the non-execution of the contractual obligations, in due time, by the Executor, by Resolution No. 28 of April 1, 2021 the Board of Directors expressed its agreement to terminate the Contract No. 13384/2016, having as object the Development of CTE Iernut, through the construction of a 430 MW thermal power plant, with a combined cycle with gas turbines.

 

Accordingly, on April 2, 2021, S.N.G.N. ROMGAZ S.A. sent to the Executor the notice of termination of the Contact No. 13384/2016.

 

The notice of termination shall take effect, within 5 days, from the receipt of the notification by the Executor.

 

Currently, S.N.G.N. ROMGAZ S.A. has an ongoing technical and economic expertise, having as main object the determination of the physical and value stage of contract execution, as well as the determination of the remaining works to be performed, for the completion and enforceability of the investment.

 

After the completion of the technical and economic expertise, S.N.G.N. ROMGAZ S.A. shall make all the necessary and useful steps for the completion and enforceability of the investment, in the shortest time possible.

 

Chief Executive Officer,

Aristotel Marius JUDE

 



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