In the period from July 4th 2012 to September 12th 2012, Grupa executed with Mercuria Energy Trading S.A. of Geneva contracts for an aggregate value of PLN 1 249m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On September 12th 2012, Grupa LOTOS and Mercuria Energy Trading SA signed a contract for the supply of crude oil to Grupa LOTOS. The contract was executed for a definite term (from September 12th to September 30th 2012), and is the highest-value contract from among the contracts executed with Mercuria Energy Trading. The value of the contract of September 12th 2012 is approximately PLN 785m.
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, as amended.