Transelectrica announced it will present the six months results within the general shareholdersț meeting, at the same time convening an extraordinary meeting also set for November 14.
The company demands the shareholders to approve ”the acquisition of legal services by the Company on terms of art. I, line (3) of GEO 26/2012 regarding measures of reducing the public expenses, strengthen financial discipline and of amending and supplementing certain legislation, services consisting of assistance and representation before courts as well as assistance and legal advice for current or potential litigation in which the Company is or, as the case, will be in contradiction with current/former members of the Supervisory Board and Directorate for execution of mandate contracts,” according to a release sent to the Bucharest Stock Exchange. The shareholders will also be noticed about Transelectrica’s litigations ”with a value higher than 500,000 euro”, reads the release.
Also, shareholders will have to approve ”acquisition of products, services and works with a value higher than 5,000,000 euro,… concluding a credit contract with BRD for issuing two Letters of Guarantee for annex payment to contracts of sale-purchase of energy on Centralized Bilateral Contracts Market – LE in favor of OMV TRADING GmbH, … concluding two credit contracts with BRD Groupe Societe General SA for issuing a Bank Guarantee Letter for annex payment at the Participation Convention on Day Ahead Market in favor of OPCOM and for issuing a bank Guarantee Letter for payment in favor of the Ministry of Economy, Trade and business environment under the concession contract no. 1/2004”.
At the same time, Transelectrica has a new ”contract with BRD for issuing three Bank Guarantee Letters of annex payment on contracts of sale –purchase of energy on Centralized Bilateral Contracts Market – LE in favor of DELALINA SRL, NOVITAS ELECTRO SRL and ENERGIA FOTO SRL.”
