In the period from December 31st 2011 to August 22nd 2012, Grupa LOTOS executed contracts with Shell Group companies for an aggregate value of approximately PLN 643m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On July 27th 2012, Grupa LOTOS and Shell International Trading and Shipping Company Limited of London executed a contract for the supply of crude oil to Grupa LOTOS. The contract was executed for a definite term (from August 1st 2012 to August 31st 2012). With its value of approximately PLN 276m, it is the highest value contract from among the abovementioned contracts with Shell Group companies.
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 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.