In the period from October 19th to December 24th 2012, Grupa LOTOS executed with Mercuria Energy Trading S.A. of Geneva contracts for an aggregate value of PLN 1 300m, i.e. the value of a significant agreement (more than 10% of equity of Grupa LOTOS).
On December 24th 2012, Grupa LOTOS and Mercuria Energy Trading S.A. signed two contracts for the supply of crude oil to Grupa LOTOS. The contracts were executed for a definite term (from December 1st to December 31st 2012). The highest-value contract from among the above mentioned contracts is approximately PLN 600m.
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.