Current report 31/20172017-08-02

Current report no. 31/2017 (01.08.2017)

Title:

Conclusion of the cooperation agreement with LOTOS Oil sp. z o.o

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of the Issuer hereby informs that on the 1 August 2017 the company URSUS S.A. concluded with LOTOS Oil sp. z o.o. with the seat in Gdańsk a cooperation agreement, under which LOTOS Oil sp. z o.o. will sell and supply to the Issuer lubricants which will be used in in tractors and agricultural machines offered by URSUS S.A.

The above-mentioned Agreement was concluded for a definite period till the 31 July 2022 and its estimated net value is 11,8 million PLN.

According to the Agreement’s provisions, the Parties plan also cooperation in sales, distribution and marketing of lubricants offered by LOTOS Oil sp. z o.o. on the domestic and foreign markets, on which the Issue operates.

Guarantee of supply of high quality products from LOTOS Oil sp. z o.o., with required parameters and in necessary quantities , gives the Issuer the surety of purchase and stability of supplying to URSUS S.A. lubricating oils recommended for tractors and agricultural machines.

In the Issuer’s opinion, the partnership with LOTOS Oil sp. z o.o. shall enhance opportunities of development of the Capital Group URSUS in terms of increasing the scope of its activity and obtaining new clients.

The provision of the Agreement concluded with LOTOS Oil sp. z o.o. do no differ from conditions commonly used for such type of cooperation agreements. The concluded Agreement contains provisions on contractual penalties for violation of the obligation of confidentiality (15% of the Agreement’s value) and for violation of the terms of use of the trademarks of the Parties, payment of contractual penalties does not waive the right to seek damages, the value of which may exceed the level of such penalties.


 

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