The turnover in excess of 10% of sales revenues – a significant agreement

The Management Board of Orzeł Biały S.A. (“The Issuer”, “The Company”) announces that the turnover of the last 12 months, according to closed accounting periods with a Counterparty with which the Issuer is collaborating in terms of lead and lead alloy sales, recycling service and production waste shipments exceeded 10% of the total revenue of the Issuer’s Group of Companies for the last four fiscal quarters (first quarter 2014 – fourth quarter 2014).

The sales of lead and lead alloys, recycling service and production waste shipments have been made based on on-going orders since January 2014 till December 2014 and on-going orders since January 2015 and all jointly meet the criteria of a significant agreement.

The largest order over the last 12 months according to closed accounting periods with the said Contractor was executed by the Issuer on 31.03.2015. The subject of the order was the sale of refined lead and lead alloys.


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. Both the Agreement and the orders on the basis of which the sales and shipments are made do not provide for contractual penalties. Remaining conditions of the cooperation do not differ from market standards applied to such agreements.

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.


Legal basis:
MFR SE § 5 Para. 1 Pt. 3

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