The Management Board of KGHM Polska Miedź S.A. announces that on 4 May 2010 contracts were entered into between KGHM Polska Miedź S.A. and nkt cables GmbH (Cologne) and its subsidiaries: nkt cables Warszowice Sp. z o.o., nkt cables s.r.o, nkt cables Velke Mezirici k.s., nkt cables Vrschlabi k.s., nkt cables a/s., for the sale of copper wire rod in 2010 and 2011.
The estimated value of these contracts is from PLN 2 289 941 120 to PLN 2 613 329 254, depending on the amount of tonnage under option.
This amount was calculated based on the forward copper curve from 4 May 2010 and the USD/PLN exchange rate per NBP from 4 May 2010.
The contracts were entered into for two years with the possibility of prolonging for another year.
Due to contracts provisions it is not possible to determine which of the above contracts is the highest-value contract. The contracts provide for the flexible re-allocation of tonnage within the nkt cables group.
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 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 (Journal of Laws from 2009 No. 33, item 259 with subsequent amendments)
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