Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 16 June 2016 it signed with Rosneft Oil Company, Moscow, Russia an annex (“Annex”) to the agreement signed on 21 June 2013 for crude oil deliveries to Unipetrol RPA in Litvinov, in the quantity from approx. 2,9 million tonnes to approx. 5 million tonnes per annum. The deliveries will be realized starting from 1 July 2016 to 30 June 2019. Price of the crude oil to be delivered, as per standard market practice, will be calculated with the use of Brent Dated index and Urals differential. In the Agreement there have been set liquidated damages.
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 Annex is a “significant agreement” due to the fact that its value exceeds 10% of PKN ORLEN’s equity.
See also: regulatory announcement no 229/2013 dated 21 June 2013, regulatory announcement no 101/2014 dated 28 March 2014 and regulatory announcement no 71/2015 dated 30 April 2015.