In the period from January 22nd 2012 to January 22nd 2013, Grupa LOTOS S.A. entered into contracts with Neste Group companies for an aggregate value of approximately PLN 813m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS S.A.).
Among those contracts, the contract of the largest value was the one of July 17th 2012, for the sale of gasoline by Grupa LOTOS S.A. to Neste Oil (Suisse) SA of Geneva, Switzerland. The contract was concluded for the period from August 1st to December 31st 2012 and its estimated value (exclusive of VAT) is approximately PLN 152m.
The contract 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 contract of such type. The other terms and conditions of the contract 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.