In the period from March 1st 2012 to July 4th 2012, Grupa LOTOS executed contracts with Petraco Oil Company Ltd. for an aggregate amount of approximately PLN 1.5bn, which is an amount considered the value of a significant agreement (more than 10% of Grupa LOTOS’ equity).
On May 24th 2012, Grupa LOTOS and Petraco Oil Company Ltd. signed a contract for the supply of crude oil to Grupa LOTOS. The contract was executed for a definite term (from May 24th 2012 to June 20th 2012). With its value of PLN 270m, it is the highest value contract from among the abovementioned contracts with Petraco Oil Company Ltd.).
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, as amended.