No. 155/ 2015
| 10-11-2015
Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 9 November 2015 within ORLEN Capital Group there was concluded agreement with company from Glencore group. The total estimated value of agreements signed between ORLEN Capital Group and companies from the Glencore group in the period from 25 June 2015 to 10 November 2015 amounts to approximately PLN 1,85 billion. The agreements between ORLEN Capital Group and companies from the Glencore group were concluded for the purchase of crude oil and rapeseed oil.
Agreement dated 9 November 2015 is the agreement with the highest value from among all agreements concluded between ORLEN Capital Group and Glencore group in the period from 25 June 2015 to 10 November 2015. The estimated value of the agreement amounts to approximately PLN 217 million. The yearly agreement was signed between ORLEN Poludnie S.A. and Glencore Polska Sp. z o.o. for purchase of rapeseed oil.
In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the abovementioned agreements constitute a “significant agreement” due to the fact that their total value exceeds 10% of PKN ORLEN’s equity.
PKN ORLEN S.A. owns 100% of ORLEN Poludnie S.A. shares.