Significant commercial contract

Report number

The Management Board of KGHM Polska Miedź S.A. (“Company”) announces that on 11 March 2016 annex to the contract dated 28 April 2014 was entered into between the Company and nkt cables group GmbH for the sale of copper wire rod.

The signed annex relates to the sale of copper wire rod in 2016.

As a result of signing today’s annex, the total estimated value of contract for the sale of copper wire rod in years 2014-2016 exceeds 10% of the Company’s equity and amounts from PLN 3 341 853 675 to PLN 3 441 138 009 depending on the usage of quantitative option.

The value of contract was calculated based on the actual realisation of supplies in years 2014-2015, and on the forward copper prices curve from 10 March 2016 and the average USD/PLN and EUR/USD exchange rates according to NBP from 10 March 2016 in relation to supplies for 2016. 

The contract provides the possibility of prolonging it for year 2017.

Legal basis: § 5 sec. 1 point 3 of the Decree of the Minister of Finance dated 19 February 2009 regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (unified text: Journal of Laws 2014.133).