The Management Board of Orzeł Biały S.A. (“The Issuer”, “The Company”) announces that on 05.04.2016 a lead and lead alloy sales agreement was signed.
The sales of lead and lead alloys were made from April 2016 till March 2017. 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 2015 – fourth quarter of 2015).
As per the Agreement provisions, the price at which lead and lead alloys will be 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 basis of which the sales are made do not provide for contractual penalties. The concluded Agreement does not provide for contractual penalties. Remaining conditions do not differ from market standards applied to such agreements.
The public disclosure of the agreement counterparty and of financial conditions of the agreement has been delayed pursuant to Art. 57 Para. 1 of the Public Offering Act.
Legal basis:
MFR SE § 5 Para. 1 Pt. 3