In the period from June 29th 2013 to January 28th 2014, Grupa LOTOS S.A. executed contracts with Statoil Group companies for an aggregate value of approximately PLN 933m, i.e. the value which meets the criteria of significant agreement (more than 10% of the equity of Grupa LOTOS S.A.).
On January 28th 2014, Grupa LOTOS S.A. and Statoil ASA concluded a contract for sale of aviation fuel to Statoil ASA (the highest-value transaction from among the above contracts). The contract was concluded for a definite period (until December 31st 2014), and its value is estimated at PLN 370m.
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.