MBF Group
MBF Group SA has received a back signed Framework Agreement for cooperation in the implementation of EN590 diesel fuel supply (the “Agreement”). The agreement was signed with an entity based in Ukraine, which is also a party willing to purchase liquid fuels on the terms proposed by the Company.
At the same time, we would like to inform you that the Agreement defines the framework rules of cooperation between the Parties, where the common goal is the contracting and physical delivery of liquid fuels(diesel EN590) to the Contracting Party. According to the arrangements and will of the buyer, liquid fuel deliveries will be made by barges to the port of Reni, Ukraine, where the contractor’s logistics facilities are located. Each contract conclusion and its implementation in terms of deliveries will be reported by the Company with stock exchange announcements, along with key information that does not violate the confidentiality agreement and trade secrets. The company, together with the consortium entity, will seek to establish logistical terms for the delivery and receipt of fuel to the port of Reni, Ukraine, as soon as possible.
The said Agreement was concluded for an indefinite period. Either party has the right to terminate it with 1 month’s notice effective at the end of the calendar month. The other terms of the Agreement do not deviate from the commonly used standards.
The conclusion of the aforementioned Agreement may become a huge milestone in the development and future of the Company and its conclusion of further commercial contracts as a broker.
