The turnover exceeding 10% of the sales revenue – a significant agreement

The Management Board of Orzeł Biały SA (“The Issuer”, “The Company”) announces, in reference to the current report No. 22/2015 dated 14.10.2015 where it announced the turnover in excess of 10% of the revenue for the last twelve months according to the closed accounting periods with the Counterparty with which the Issuer cooperates in terms of lead and lead alloy sales lead processing services, that from the day of the announcement of the exceeded turnover, viz. 14.10.2015, till the publishing of this report the turnover with this Counterparty have, again, exceeded 10% of the sales revenue of the Issuer’s Group of Companies for the last four fiscal quarters (second quarter 2015 – first 2016).

The sales of lead and lead alloys have been made based on on-going orders and meet the criteria of a significant agreement.

The price at which lead and lead alloys are sold includes a base price established on the basis of the average monthly official listings (“The Settlement”) for lead at the London Metal Exchange during the quotation period, which is increased by the Company’s premium.

The orders on the basis of which the sales are made do not provide for contractual penalties. Remaining conditions of the cooperation do not differ from market standards applied to significant agreements.

The public disclosure of the Counterparty and of financial conditions of the cooperation in the above-mentioned scope has been delayed pursuant to Art. 57 Para. 1 of the Public Offering Act.

Legal basis: MFR SE § 5 Para. 1 Pt. 3

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