The deposit, without auto-renewal option, matures on April 25, 2024 and carries an annual interest rate of 6.15%.
“We mention that, S.N.G.N ROMGAZ S.A has had deposits at Exim Banca Romaneasca 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 10, 2024,” as per the report.
Romgaz has a market value RON19.5 million and is 70%-owned by the Romanian State. SNG shares have gained 24.6% in the last year, amid deals worth RON813 million, as per stock market data.
Romgaz posted RON6.81 billion turnover in the first nine months of 2023, down 37% from the year-earlier period, and net profit of RON2.16 billion, 3% lower. The company’s total revenues went down by 35%, to RON7.1 billion, while expenses were 62% lower than in 2022, at RON3.1 billion.