On October 24th 2013, Grupa LOTOS S.A. ("the Company") served a notice of termination under the crude oil supply contract of December 4th 2009 with Mercuria Energy Trading S.A. of Geneva, whose execution was reported by the Company in Current Report No. 43/2009 of December 4th 2009 ("the Contract").
Pursuant to the Contract, it may be terminated by each Party in the event that the Parties fail to reach an agreement on a change of the contractual price by October 15th of the calendar year preceding the year for which such price change is requested. The termination notice was served because the Parties failed to reach such an agreement.
Accordingly, the Contract shall terminate with effect as of the end of the 2013 calendar year.
The termination of the Contract produces no financial effects that would affect the Company's current position.
The Contract is classified as significant as its estimated value exceeded 10% of Grupa LOTOS S.A.’s equity.
The legal basis for the publication of this Current Report is Par. 5.1.5 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.