The Management Board of Grupa LOTOS S.A. (the “Issuer”) reports that due to the execution of an agreement between Grupa LOTOS S.A. and Neste Oil Oyj of Espoo on October 18th 2011, the total value of the agreements concluded by the Issuer and Neste Oil Group in the period of last twelve months, reached approximately PLN 702m and has reached the value of a significant agreement, exceeding the value of 10% of Grupa LOTOS S.A.’s equity.
In terms of value, the largest of these agreements is the agreement of August 11th 2011 on the purchase of liquid fuels by Grupa LOTOS S.A. from Neste Oil Suisse of Genova , which is estimated for PLN 62m.
The agreement does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo), it does not provide for any contractual penalties and its terms and conditions do not differ from the terms and conditions commonly used in agreements of such type.
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. the total value of agreements executed.