The Management Board of Grupa LOTOS S.A. hereby reports that on August 10th 2009 Grupa LOTOS S.A. and LOTOS Kolej Sp. z o.o. (wholly owned by Grupa LOTOS S.A.) signed an agreement in which LOTOS Kolej Sp. z o.o. will provide comprehensive railway services to Grupa LOTOS S.A.
The agreement was executed for a specified period from August 10th 2009 to December 31st 2019, and its estimated value is PLN 2.129 bn.
The agreement provides for contractual penalties whose maximum value equals the estimated value of the agreement and will depend on the extent of LOTOS Kolej’s delay in the performance of or failure to perform the services. The agreement contains provisions under which Grupa LOTOS S.A. would be entitled to seek compensation in excess of the contractual penalties.
Other terms and conditions of the agreement do not differ from the terms and conditions commonly applied in agreements of such type.
The agreement is considered significant as its estimated value exceeds 10% of Grupa LOTOS S.A.’s equity.
The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.