Market News


Report according art. 82 Law 24/2017

Release Date: 1/10/2019 5:15:26 PM

IRIS Code: A7444

 To the: Bucharest Stock Exchange – Department of Operations Issuers Regulated Markets

 Financial Supervision Authority - General Directorate Supervision - Issuers Division


Current report according to the provisions of article 82 of Law 24/2017

Date of the report: January 10, 2019

Name of Issuer Company: CNTEE TRANSELECTRICA SA, company managed under Two-tier System

Headquarters: Bucharest 1, Blvd. Magheru no. 33

Working location: Bucharest 3, Str. Olteni no. 2-4

Phone / fax numbers: 4021 3035 611 / 4021 3035 610

Single registration code: 13328043

LEI Code: 254900OLXCOUQC90M036

Number in the Commercial Register: J40/8060/2000

Share capital subscribed and paid: 733,031,420 Lei

Regulated market where the issued securities are transacted: Bucharest Stock Exchange


Event to report


National Power Grid Company Transelectrica ​​SA informs the shareholders and the investors about the signing of a contract with a value of more than EUR 50,000 with the SMART SA subsidiary.



C 5 / 07.01.2019, registered under number 1029 / 09.01.2019;


CNTEE Transelectrica SA,  as Purchaser;

SC SMART SA, as Contractor;

Contractual object:

”Installing transformer T3-400/110kV, 250 MVA in 400/110 kV Sibiu Sud substation-Primary equipment Transformer 250 MVA+400/110kV related bays”;

Contractual value:

13,139,510.65 Lei, VAT free;


The performance bond of the Contract amounting to 1,313,951.06 Lei represents 10% of the VAT free total contractual value;

The performance bond of the Contract is drawn up as an irrevocable guarantee letter issued by a bank/insurance company;


For the Contractor’s/Subcontractor’s/Supplier’s exclusive guilty failure to carry out the activities in accordance with the terms associated to the stages of the execution schedule, the Contractor owes the Purchaser 0.1% delay penalties applied to the value of such main-stage activities, for each day of delay beginning with the following one after the liability due date, until the actual payment day (inclusive). The amount of penalties should not exceed the cumulated values of activities from the respective main-stage.

Penalties will be paid according to the Purchaser-issued invoice. The Contractor will pay the invoice in maximum 30 days from receipt date;

For the failure to pay the invoices issued by the Contractor upon the terms agreed under Contract the Purchaser owes to the Contractor delay penalties in quantum equal to the interest rate owed for the failure to pay in due time the liabilities to the state budget applied to the owed sum for each day of delay, beginning with the following one after the liability due date, until the actual payment day (inclusive);

Mutual liabilities:

The Contractor can assign to third parties, according legal provisions, only the assignment rights ensued from the contract while correlative liabilities stay on the Contractor’s behalf, as initially stipulated and assumed;

Upon the anticipated termination of the contract, the parties can agree with the Contractor’s assignment to the Purchaser of one or several contracts concluded by the Contractor with its subcontractors/suppliers. This paragraph is the revision clause in the sense of art. 236, para. (1) of Law 99/2016;

Terms of payment:

Within 30 days from the registration date of the fiscal invoice with the Purchaser, while observing the contractual clauses.



Marius – Danut CARASOL



Constantin SARAGEA

Executive Director General

Directorate Chairman


Directorate Member



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