Grupa LOTOS S.A. (the “Company”) announces that today: the Company, PDH Polska S.A. (“PDH”), Grupa Azoty S.A. and Grupa Azoty Zakłady Chemiczne Police S.A., jointly referred to as the “Parties”, signed a letter of intent (the “Letter of Intent”) providing the basis for commencing discussion on the Company’s potential participation in financing the Polimery Police project to be executed by PDH (the “Polimery Police Project”) by subscribing for new shares in the PDH share capital and paying up to PLN 500m towards the PDH share capital (the “Transaction”).
In accordance with the Letter of Intent, the Parties will enter into talks to agree on all material elements of the Company’s potential participation in financing the Polimery Police Project.
The Company would like to note that the Letter of Intent does not constitute a binding obligation of the Parties to carry out the Transaction. The Company will announce the results of the negotiations in separate current reports.
The Letter of Intent is valid until October 31st 2019.
Legal basis: Article 17(1) of MAR – Inside information