Further to Current Report No. 25/2010 of June 16th 2011, the Management Board of Grupa LOTOS S.A. hereby reports that on November 29th 2011, an annex (the “Annex”) was executed to the comprehensive gas fuel supply agreement of June 16th 2010 (the “Agreement”), made between Polskie Górnictwo Naftowe i Gazownictwo S.A. of Warsaw ("PGNiG") and Grupa LOTOS S.A. for an indefinite term.
Under the Annex, the date of commencing the gas fuel supplies by PGNIG S.A. to Grupa LOTOS S.A. was changed from December 16th 2011 to April 30th 2012, and therefore the estimated volume of natural gas to be supplied in 2012 will be reduced from 403 million cubic metres to 337 million cubic metres. Additionally, on justified request, Grupa LOTOS S.A. may further postpone the starting date of the gas supplies until July 31st 2012.
The Annex also changes the planned, target annual volume of natural gas supplies from 447 million cubic metres to 585 million cubic metres.
Other provisions of the Agreement remain unchanged.
The estimated value of the Agreement in the period of five years is approximately PLN 3.240bn (three billion, two hundred and eleven million złoty).
The agreement has been classified as 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.