The Management Board of KGHM Polska Miedź S.A. announces that on 4 February 2011 a significant contract was entered into between KGHM Polska Miedź S.A. and MKM Mansfelder Kupfer und Messing GmbH for the sale of copper cathodes in 2011.
The estimated value of this contract is USD 692 092 994.67 i.e. PLN 1 967 205 128.05.
This amount was estimated based on the forecast copper price (using a forward curve from 3 February 2011) and the USD/PLN exchange rate per NBP and EUR/USD exchange rate (EUROREFERENCE from Frankfurt) from 3 February 2011.
The agreement foresees statutory interest for late payments.
The total estimated value of contracts entered into between KGHM Polska Miedź S.A. and MKM Mansfelder Kupfer und Messing GmbH over the last 12 months is PLN 2 048 362 917.60. 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 estimated value of the contract 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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