The Management Board of Grupa LOTOS S.A. reports that in the period from January 25th to December 30th 2013 Grupa LOTOS S.A. executed contracts with O.W. Supply & Trading SA for an aggregate value of approximately PLN 715m, i.e. the value which meets the criteria of significant agreement (more than 10% of the equity of Grupa LOTOS).
The highest-value transaction is the contract of December 12th 2013 for sale of liquid fuels by Grupa LOTOS S.A. to O.W. Supply & Trading SA of Noerresundby in Denmark. The contract was concluded for a definite period, from December 1st 2013 to November 30th 2014, and its VAT-exclusive value is estimated at about PLN 540m.
The contract does not provide for any contractual penalties, conditions precedent or dates giving rise to a claim. 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.