The Management Board of Grupa LOTOS S.A. announces that in the period from December 17th 2013 to March 25th 2014, Grupa LOTOS S.A. entered into contracts with Mercuria Energy Trading SA of Geneva for an aggregate value of approximately PLN 758m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS S.A.).
On December 19th 2013, Grupa LOTOS S.A. and Mercuria Energy Trading SA concluded a spot contract for the supply of crude oil to Grupa LOTOS S.A. (the highest-value contract from among the contracts with Mercuria Energy Trading SA). The estimated value of the contract of December 19th 2013 is PLN 340m.
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.