Saturday | March 25, 2023 |
Market Status: CLOSED

Market News


Clarification regarding insolvency request filed against the Company

Release Date: 6/21/2022 7:05:55 PM

IRIS Code: 01E8B

To: Bursa de Valori Bucuresti S.A.

      Autoritatea de Supraveghere Financiara



According to Law no. 24/2017 regarding issuers of financial instruments and market operations, ASF regulation no. 5/2018 regarding the issuers of financial instruments and market operations and/or the Bucharest Stock Exchange Rulebook for Multilateral Trading System.


Date of report


Name of the Company

Simtel Team S.A.

Registered Office

Splaiul Independentei 319 SP. OB 410, Sector 6, Bucuresti 060044, Romania




Registration nr. with Trade Registry

+40 31 860 21 01


Fiscal Code

RO 26414626

Subscribed and paid share capital

1,411,000 lei

Total number of shares




Market where securities are traded

MTS AeRO Premium

Important events to be reported: Clarification regarding insolvency request filed against the Company

The management of Simtel Team S.A. (hereinafter referred to as the “Company”) informs the market regarding the recently available information concerning an insolvency request which has been filed against the Company by URBAN ANTREPRIZA CONSTRUCTII S.R.L. (hereinafter referred to as “Claimant”).

Even though at the moment of issuance of this Current Report, the Company has not received any legal documents regarding the above-mentioned dispute, the management of the Company, acting in the interest of its shareholders and all interested parties, has decided to make available to the public the following relevant data regarding the contract based on which it is possible that Claimant filed its request:

·      The parties concluded a contract on 09.12.2021 for the construction of a photovoltaic power plant, Claimant as Beneficiary and the Company as Supplier, with 25.05.2022 as delivery date;

·        the Company carried out several services under the contract, including, but without being limited to field analysis, partial design, followed by the delivery of such solutions by the Company to Claimant;

·          Claimant unilaterally terminated the contract before the end date of the contract, on 05.04.2022, although there is no question of non-performance without justification of the Company’s undertaken obligations;

·           By its conduct, contrary to good faith, starting with the refusal to sign the annex to the contract, essential for determining its object, and culminating in invoking certain issues and addressing requests which did not fall under the contract, for the works initially desired, Claimant prevented the full performance of the contract;

·     The Company informed Claimant that, although it strongly rejects the idea of termination as well as its claims against the Company, it nevertheless agrees to the termination of the contract;

·           The Company has no fixed, due or other kind of debt towards Claimant.

Therefore, the Company considers this dispute as having no impact over the regular course of business, Claimant acting in a bad-faith manner. The Company will take any necessary legal actions to dismiss the dispute and will inform the market accordingly, through a separate Current Report, regarding the status of the dispute.


Iulian NEDEA

Sole Director



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