The Management Board of KGHM Polska Miedź S.A. announces that on 1 December 2014 the Company has signed a contract with Prysmian S.p.A. The contract concerns the sale of copper wire rod in 2015 and 2016.
The estimated value of this contract is between PLN 2 070 910 273 to PLN 2 575 970 551. The contract’s value depends on the amount of tonnage under option and on the relocation of material between Prysmian S.p.A. and Prysmian Kabel und Systeme GmbH.
The contract with Prysmian S.p.A. provides for the relocation of wire rod between Prysmian S.p.A. and Prysmian Kabel und Systeme GmbH – on the basis of a separate contract signed between the Company and Prysmian Kabel und Systeme GmbH (the contract is on a consignment stock basis). The contract’s value was calculated based on the forward copper curve from 28 November 2014 and the USD/PLN exchange rate as per the National Bank of Poland from 28 November 2014.
The contract is classified as significant, based on the estimated value of the contract which exceeds 10% of the equity of the Company.
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)