In the period from July 5th 2012 (see Current Report No. 25/2012) to October 25th 2012, Grupa LOTOS executed contracts with Petraco Oil Company Ltd of Guernsey of an aggregate value of approximately PLN 820m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On August 21st 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 September 1st to October 5th 2012), and is the highest-value contract from among the contracts executed with Petraco Oil Company Ltd. The value of the contract of August 21st 2012 is approximately PLN 300m.
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.