The Grupa LOTOS Management Board reports that in the period from December 31st 2012 (date of publication of Current Report No. 47/2012) to August 28th 2013, Grupa LOTOS entered into contracts with BP Oil International Limited of London with an aggregate value of approximately PLN 668m, i.e. the value of a significant agreement (more than 10% of Grupa LOTOS S.A.'s equity).
On December 7th 2012, Grupa LOTOS S.A. and BP International Limited concluded a contract for the supply of naphtha to BP, for a fixed term from January 1st to December 31st 2013. The estimated value of the contract is PLN 336m, making it the highest value agreement signed between the two companies.
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 this 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.