In the period from January 1st 2013 to June 28th 2013, Grupa LOTOS S.A. entered into contracts with Statoil Group companies for an aggregate value of approximately PLN 819m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On January 14th 2013, Grupa LOTOS S.A. and Statoil ASA of Stavanger executed a contract for the supply of crude oil to Grupa LOTOS S.A. The contract was executed for a definite period (from February 1st 2013 until February 28th 2013), and is the highest-value contract from among the contracts with Statoil Group companies. The estimated value of the contract of January 14th 2013 is PLN 292m.
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 contracts 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.