The Management Board of KGHM Polska Miedź S.A. announces that on 7 August 2008 a contract was entered into between KGHM Polska Miedź S.A. and Wieland Werke AG for the sale of copper cathodes in years 2009 – 2011.
The estimated value of this contract is from USD 369 727.4 thousand to USD 448 954.7 thousand, i.e. from PLN 775 503.2 thousand to PLN 941 682.5 thousand, depending on the amount of tonnage under option. This amount was estimated based on the forecast copper price (using a forward curve) and the National Bank of Poland exchange rate from 7 August 2008.
The total estimated value of contracts entered into between KGHM Polska Miedź S.A. and Wieland Werke AG over the last 12 months is from PLN 1 087 060.6 thousand to PLN 1 278 006.6 thousand, depending on the amount of tonnage under option.
The highest-value contract signed during this period is the above-mentioned contract.
The criteria used for describing the contract as significant is that the total estimated value of the contracts exceeds 10% of the equity of KGHM Polska Miedź S.A.
Legal basis: § 5 sec. 1 point 3 of the Decree of the Minister of Finance dated 19 October 2005 regarding current and periodic information published by issuers of securities (Journal of Laws from 2005 No. 209, item 1744).
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