The Management Board of Grupa LOTOS S.A. hereby reports that on December 29th 2011 Grupa LOTOS S.A. and Mercuria Energy Trading SA of Geneva 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 last 12 months has reached approx. USD 318.05m (i.e. PLN 1,085.39m 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 December 29th 2011, whose estimated value as at December 29th 2011 was USD 153.11m (i.e. PLN 522.51m 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.