The Management Board of Grupa LOTOS S.A. hereby reports that on December 29th 2011 Grupa LOTOS S.A. and Eminent Energy Ltd of Nicosia executed a contract for crude oil supplies to Grupa LOTOS S.A. in January 2012.
The total estimated value of agreements executed by the two parties in the period from the release of the most recent report (Current Report No. 31/2011 of October 28th 2011) has reached approx. USD 266.93m (i.e. PLN 910.92m translated at the USD mid-exchange rate quoted by the National Bank of Poland for December 29th 2011), and has exceeded 10% of Grupa LOTOS S.A.’s equity.
The largest transaction (in value terms) was the agreement of November 24th 2011, whose estimated value as at December 29th 2011 was USD 140.16m (i.e. PLN 478.31m translated at the USD mid-exchange rate quoted by the National Bank of Poland for December 29th 2011).
The agreement does not contain 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 applied 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.