The deposit, without auto-renewal option, matures on May 2, 2024 and carries an annual interest rate of 6.1%, which was negotiated on January 19, 2024.
“We mention that, S.N.G.N ROMGAZ S.A has had deposits at CEC BANK S.A. with a cumulative value over 12 months exceeding the materiality threshold of 5% of the net asset value, and 10% of the net turnover related to 2022 financial year. Some of these deposits matured before January 19, 2024,” as per the report.
Romgaz currently has two other deposits opened with CEC Bank, both in the amount of RON50 million, carrying interest rates of 6.15% and 6.25%, respectively, and maturing on January 25 and on April 1, 2024. SNG shares have gained 2% so far in 2024.