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Completing the annual report 2017

Release Date: 11/28/2018 12:12:02 PM

IRIS Code: BDE88



              Bucharest Stock Exchange

                   Financial Supervisory Authority



Under the FSA's Rule  nmb. 5/2018




Date of report: 28.11.2018

Name of the company: UZTEL S.A.

Headquarters: Ploiesti, Mihai Bravu nr.243, Prahova County

Phone  / fax number:0244-523.455 / 0244-521.181

Tax number: RO 1352846

Number and date of registration at Trade Register:J29/48/1991

Subscribed and paid up share capital: 13.413.647,50 lei

Ruled market on which the issued securities are traded: Bursa de Valori Bucuresti


Important event to report:


Completion of Report for 2017 , taking in account the letter of Financial Supervisory   Authority nmb. DETA 11101 dated  20.11.2018.

In the Annual Report for the financial year 2017, transactions in the nature of the acquisition of goods and services with independent legal entities (companies) have been recorded in Note 14 " Operations with Affiliated  Parties" which have not influenced the position and financial performance of UZTEL S.A. Ploiesti.

According to IAS 24 (Presentation of Related Party Information), the Company considered it opportune to describe the commercial transactions carried out with the legal entities holding cash funds in their capacity as associate members of the UZTEL Association.

The legal entities whose transactions were mentioned in the Annual Report for the financial year 2017 do not fall under the provisions of art. 82 par. (1) of the Law no. 24/2017 due to the fact that the holdings, that is the money funds do not allow them to  hold  control.

In support of this, UZTEL S.A. Ploiesti presents the following additional information regarding the share of funds held on 31.12.2017 by legal entities in their capacity as members of the UZTEL Association, as follows:


Description of entity                         % the cash fund held in the Association UZTEL

Aprodem SA Ploiesti                                                     0,2805

Axon SRL Ploiesti                                                          0,7380

Comis SRL Valenii de Munte                                        8,2977

Electro Service Onel & Co SNC Ploiesti                      4,8555

Passion SRL Ploiesti                                                     0,3982

Platus Com SRL Campina                                             0,6090

Romconvert SA Ploiesti                                                 0,7609       

Titancore SRL Ploiesti                                                   4,2191

Rikora Flm SRL Focsani (Vaspet SRL)                        0,5087

Shabum International LTD Tel Aviv                               0,2640      


Compared to the above, UZTEL S.A. Ploiesti considers that the commercial transactions presented in the Annual Report for the financial year 2017 were concluded under normal market conditions and that it acts independently and in its own interest.


CEO                                           General Director                            Economic Director

Hagiu Neculai                            Zidaru Ion                                       Popescu Ileana











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