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Conclusion of a significant agreement |
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Own release
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23.08.2010 |
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The Management Board of PETROLINVEST S.A. (the “Company”) announces that on 23 August 2010 the Company entered into two agreements with ORLEN GAZ Sp. z o.o. for purchases of liquefied propane-butane mix of an estimated aggregate value of PLN 51,064,000, as a result of which the aggregate value of the agreements concluded with this client over the past 12 months amounted to PLN 103,936,000.
The agreement with the highest value among all the agreements concluded by the Company with ORLEN GAZ Sp. z o.o. within the past 12 months is the significant agreement concluded on 23 August 2010, the estimated value of which is PLN 40,416,000 (the “Agreement”).
The terms and conditions of the Agreement are similar to market terms and conditions, the delivery of LPG will be effected using the “DDU Suwałki/Łubiana/Gdynia" formula in accordance with the Incoterms 2000. The Agreement was concluded for the period ending on 31 December 2010. A bill of exchange guarantee submitted by a company belonging to the Prokom Investments S.A. capital group constitutes financial collateral for the Agreement execution.
The mentioned Agreement may be considered a significant agreement, as the aggregate value of all agreements concluded with this client over the preceding 12 months exceeds 10% of the Company's equity. Download current report no. 69/2010
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