ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ...
ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ... ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ...
SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007 CONTENTS REPORT AND ISSUER IDENTIFICATION DATA......................................................................... BACKGROUND DATA ON THE ISSUER …………..........……………………………………... EXECUTIVE SUMMARY……..…………………………………………………………………... CH.1 - ANALYSIS ON COMPANY’S ACTIVITY…………………………….. 1.1.a) Main activities….…………...................................................................................... 1.1.b) Transgaz’ incorporation date............................................................................................. 1.1.c) Key merger or restructuring of Transgaz during the financial year ….. 1.1.d) Asset acquisition and transfer......................................................................................... 1.1.e) Assessment of the company’s activity……………………………................................... 1.1.1. General assessment features………………………………………………….............. 1.1.2. Assessment of Transgaz technical level....................................................................... 1.1.3. Assessment of the supply activity …………………………………………………... 1.1.4. Assessment of the trading activity……………………………………………………. 1.1.5. Assessment of company’s employee/ personnel related issues......................................... 1.1.6. Assessment of the environmental impact of Transgaz’ main activities....................................................................................................... 1.1.6.1. Synthetic presentation on the environmental impact of Transgaz’ main activity ……... 1.1.6.2. Main actions, measures for environmental management improvement and prevention and/or mitigation of the environmental impact for 2007............................. 1.1.6.3. Level of compliance with the environmental protection legislation ………… 1.1.6.4. Fines, accidental occurences and disputes.......................................................................... 1.1.7 Prospects on Transgaz’ activity....................................................... CH. 2 TRANSGAZ TANGIBLE ASSETS………………………………………… 2.1 Location and features of Transgaz main output capacities............ 2.2 Description and analysis of the property wear-out extent.............................................. 2.2.1. Description and analysis.................................................................................... 2.2.2. Achievement of the maintenance programme ………………………………............. 2.2.3. Investment programme………………………………………………………………….. CH.3. THE MARKET OF THE SECURITIES ISSUED BY TRANSGAZ............................... 3.1. Features and evolution of the securities issued by Transgaz on the regulated market managed by the Bucharest Stock Exchange..................................................................... 3.2. Description of Transgaz policy on dividends................................................................. 3.3. Description of any company’s actions for purchasing its own shares……………………..… 3.4. In case of subsidiaries, specify the number and the nominal value of the shares issued by the parent company and held by the subsidiaries................................. 3.5. If the company issued bonds and/or other receivables, specify the manner of discharging the company’s obligations towards the bearers of such securities………..... CH.4. COMPANY’S MANAGEMENT………………………….……………………………. 4.1. Introduction of administrators………………………………………………………….……. 4.2. Members of Executive Management……………..…………………………….............. CH.5. ACCOUNTING FINANCIAL STANDING…….……..…………………….............. 5.1. Comparative analysis of the economic-financial standing within the last 3 years............................. 5.1.1. Balance sheet items…………………………………………………………………. 5.1.2. Profit and loss account................................................................................................ 5.1.3. Cash-flow……………………………………………………………………………….. 5.2. Financial risk management………………………………………………………... CH.6. MISCELLANEOUS………………………………………………………………………………... ANNEXES TO CH.4 item 4.1.a)………………………………………………………………………... Page 2 of 54
SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007 REPORT AND ISSUER IDENTIFICATION DATA Annual Report under Article 227 of Law no.297/2004 For the financial year ended on December 31 st , 2007 Report date: April 4 th , 2007 Name of company: SNTGN TRANSGAZ SA Registered office: Medias, no.1, Constantin I. Motas Sq., code: 551130 Phone/fax no.: 0269-803333/0269-839029 Unique registration code under the Commercial Register Office: 13068733 Tag number in the Commercial Register: J32/301/2000 Subscribed and paid-up share capital: lei 117,738,440 Regulated market for the issued security transactions: Bucharest Stock Exchange Main characteristics of the securities issued by Transgaz: 1,177,384 ordinary, registered, unseverable and freely-transactional shares as of January 24 th , 2008, having a nominal value of lei 10 /share. BACKGROUND DATA ON THE ISSUER The National Gas Transmission Company, “TRANSGAZ” SA (Transgaz), performs activities in the following locations: • Transgaz headquarters: Medias, no. 1, C.I. Motas Sq., Sibiu county, code 551130; • Operating Division: Medias, no.11, George Enescu St., Sibiu county, code 551018; • Research, Engineering and Regulation Division: Medias, no.6, Unirii St., Sibiu County, code 550173; • Bucharest Gas Dispatching Centre: Bucharest, no.30, Calea Dorobanti, sector 1, code 010573. Transgaz holds 10 regional operating centres, void of legal personality: 1. Arad Regional Operating Centre, no.56, Poetului St., Arad, Arad County, code 310369; 2. Bacău Regional Operating Centre, no. 63, George Bacovia St., Bacău, Bacău County, code 600238; 3. Brăila Regional Operating Centre, no.5, Ioan Ghica St., Brăila, Brăila County, code 810089; 4. Brasov Regional Operating Centre, no.12, Grigore Ureche St. A, Brasov, Brasov county, code 500449; 5. Bucuresti Regional Operating Centre, no. 2-4, Lacul Ursului St., sector 6, Bucharest, code 060594; 6. Cluj Regional Operating Centre, no.12, Crisului St., Cluj-Napoca, Cluj County, code 400597; Page 3 of 54
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SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007<br />
CONTENTS<br />
<strong>REPORT</strong> AND ISSUER IDENTIFICATION DATA.........................................................................<br />
BACKGROUND DATA ON THE ISSUER …………..........……………………………………...<br />
EXECUTIVE SUMMARY……..…………………………………………………………………...<br />
CH.1 - ANALYSIS ON COMPANY’S ACTIVITY……………………………..<br />
1.1.a) Main activities….…………......................................................................................<br />
1.1.b) Transgaz’ incorporation date.............................................................................................<br />
1.1.c) Key merger or restructuring of Transgaz during the financial year …..<br />
1.1.d) Asset acquisition and transfer.........................................................................................<br />
1.1.e) Assessment of the company’s activity……………………………...................................<br />
1.1.1. General assessment features…………………………………………………..............<br />
1.1.2. Assessment of Transgaz technical level.......................................................................<br />
1.1.3. Assessment of the supply activity …………………………………………………...<br />
1.1.4. Assessment of the trading activity…………………………………………………….<br />
1.1.5. Assessment of company’s employee/ personnel related issues.........................................<br />
1.1.6. Assessment of the environmental impact of Transgaz’ main<br />
activities.......................................................................................................<br />
1.1.6.1. Synthetic presentation on the environmental impact of Transgaz’ main activity ……...<br />
1.1.6.2. Main actions, measures for environmental management improvement and prevention and/or<br />
mitigation of the environmental impact for 2007.............................<br />
1.1.6.3. Level of compliance with the environmental protection legislation …………<br />
1.1.6.4. Fines, accidental occurences and disputes..........................................................................<br />
1.1.7 Prospects on Transgaz’ activity.......................................................<br />
CH. 2 TRANSGAZ TANGIBLE ASSETS…………………………………………<br />
2.1 Location and features of Transgaz main output capacities............<br />
2.2 Description and analysis of the property wear-out extent..............................................<br />
2.2.1. Description and analysis....................................................................................<br />
2.2.2. Achievement of the maintenance programme ……………………………….............<br />
2.2.3. Investment programme…………………………………………………………………..<br />
CH.3. THE MARKET <strong>OF</strong> THE SECURITIES ISSUED BY TRANSGAZ...............................<br />
3.1. Features and evolution of the securities issued by Transgaz on the regulated market managed by<br />
the Bucharest Stock Exchange.....................................................................<br />
3.2. Description of Transgaz policy on dividends.................................................................<br />
3.3. Description of any company’s actions for purchasing its own shares……………………..…<br />
3.4. In case of subsidiaries, specify the number and the nominal value of the shares issued by the<br />
parent company and held by the subsidiaries.................................<br />
3.5. If the company issued bonds and/or other receivables, specify the manner of discharging the<br />
company’s obligations towards the bearers of such securities……….....<br />
CH.4. COMPANY’S <strong>MANAGEMENT</strong>………………………….…………………………….<br />
4.1. Introduction of administrators………………………………………………………….…….<br />
4.2. Members of Executive Management……………..……………………………..............<br />
CH.5. ACCOUNTING FINANCIAL STANDING…….……..……………………..............<br />
5.1. Comparative analysis of the economic-financial standing within the last 3 years.............................<br />
5.1.1. Balance sheet items………………………………………………………………….<br />
5.1.2. Profit and loss account................................................................................................<br />
5.1.3. Cash-flow………………………………………………………………………………..<br />
5.2. Financial risk management………………………………………………………...<br />
CH.6. MISCELLANEOUS………………………………………………………………………………...<br />
ANNEXES TO CH.4 item 4.1.a)………………………………………………………………………...<br />
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