The Management Board of Orzeł Biały S.A. (“The Issuer”, “The Company”) announces that on 16.04.2015 an Orzeł Biały S.A lead and lead alloy sales agreement was signed by the Issuer (“The Seller”) and the other party (“The Buyer”). The public disclosure of the Contractor and of financial conditions of the cooperation in the above-mentioned area has been delayed pursuant to Art. 57 Para. 1 of the Public Offering Act.
The sales of lead and lead alloys will be made from April 2015 till March 2016. The Agreement meets the criteria of a significant agreement, i.e. the Agreement value exceeds 10% of the total revenue of the Issuer’s Group of Companies for the last four quarters (first quarter of 2014 – fourth quarter of 2014).
According to the signed Agreement provisions, the price at which lead and lead alloys are sold includes a base price established on the basis of the average monthly official listings (“Settlement”) for lead at the London Metal Exchange during the quotation period, which is increased by the Company’s premium. The Agreement does not provide for contractual penalties. Remaining conditions do not differ from market standards applied to such agreements.