The Management Board of KGHM Polska Miedź S.A. announces that on 29 December 2014 an annex was signed to the contract from 16 January 2013 between KGHM Polska Miedź S.A. and Tele-Fonika Kable S.A. related to the sale of copper wire rod in 2015.
The estimated value of the contract for the sale of copper wire rod, including the annex (the sum of the last 12 months, calculated from 29 December 2013 to 29 December 2014, and in 2015) is from PLN 2 521 727 912.61 to PLN 2 714 197 850.85, depending on the volume of options used and the relocation of material between plants belonging to Tele-Fonika Kable S.A.
The value of the contract is estimated based on known market prices from 2014 as well as on the forward copper price curve as at 29 December 2014 and the average USD/PLN exchange rate announced by the National Bank of Poland as at 29 December 2014.
The contract is classified as significant, based on the estimated value of the contract which exceeds 10% of the Company’s equity.
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 from 2014 No. 133)