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Information on not applying the principles of corporate governance

Information on not applying the principles of corporate governance

Date of publication:07.06.2013

Board of PROCHEM SA acting in accordance with § 29. 3 Rules of the Stock Exchange announces that at the moment will not be applied the rules of corporate governance set out in part IV item 10 and part II item 1 section 9 of a document entitled „Best Practices of WSE Listed Companies”, which is an annex to the resolution of the Stock Exchange in Warsaw S.A. dated 21 Nov. 2012.

According to the company, currently applicable rules of participation in general meetings provide adequate and effective implementation of the rights arising from the shares and sufficiently protect the interests of all shareholders.

The Company conducts a transparent and effective information policy to ensure correct communication with investors and analysts using traditional methods. All relevant information relating to the convening and conduct of meetings of the General Meeting shall be forwarded by the company both in the form of current reports, as well as being posted on the company’s website.

The Management Board believes that costs associated with the purchase of the necessary technology to handle the transmission and recording of meetings of the General Meeting by the Internet in the present circumstances are not justified.

The Company in case of interest in this form of participation of shareholders in the general meeting, will consider soundness of the implementation of the above rule.