The Management Board of Orzeł Biały S.A. (“The Issuer” or “The Company”) hereby announces that an agreement was concluded on 17.02.2016 by the Issuer (the Seller) and by the other party (the Buyer) concerning the lead and lead alloys sale by Orzeł Biały S.A.
The sales of lead and lead alloys will be delivered in the period from January 2016 to December 2016. The agreement meets the criterion of a significant agreement, i.e. the value of the contract exceeds 10% of sales revenues of the Issuer’s Group for the last four quarters (Q4 2014 to Q3 2015).
Under the terms of the concluded agreement, the price at which lead and lead alloys will be sold includes a base price established on the basis of average monthly official lead settlements at the London Metal Exchange during the quotation period, and increased by the premium of the Company. The agreement in place does not provide for any contractual penalties, the maximum amount of which may exceed the equivalent of at least 10% of the contract value or at least the PLN equivalent of EUR 200,000, according to the average exchange rate for a given currency by the National Bank of Poland (NBP) applicable as at the date of this agreement. The terms and conditions of the agreement do not differ from market standards operating in such agreements.
The public disclosure of the information about the other party to the agreement and the financial terms of the agreement has been delayed pursuant to Article 57 Para. 1 of the Public Offering Act.
Legal basis:
MFR SE § 5 Para. 1 Cl. 3