The Management Board of Grupa LOTOS S.A. reports that in the period from December 4th to December 16th 2013, Grupa LOTOS S.A. entered into contracts with Mercuria Energy Trading SA of Geneva for an aggregate value of approximately PLN 755m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On December 16th 2013, Grupa LOTOS S.A. and Mercuria Trading SA executed a contract for the supply of high-sulfur fuel oil (HSFO) to Mercuria Energy Trading SA. The contract, executed for a definite period of time (from December 1st 2013 until November 30th 2014), is the highest-value contract from among the contracts with Mercuria Energy Trading Sate estimated value of the contract of December 16th 2013 is PLN 512m.
The contract does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo) or provide for any liquidated damages, 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.