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Conclusion of significant agreement by PROCHEM S.A.

Conclusion of significant agreement by PROCHEM S.A.

Date of publication: 26.02.2013

On 26 February 2013 PROCHEM Spółka Akcyjna received signed bilateral agreement with POSCO ENGINEERING & CONSTRUCTION CO. LTD. BRANCH IN POLAND seated in Cracow.

The subject of the contract covers design work and other engineering services for Zakład Termicznej Przeróbki Odpadów in Cracow.

The price of the contract is PLN 9 590 000 plus VAT .

Deadline for completion of the contract – 31 Oct. 2015

The agreement provides for penalties for failure to meet the deadline of the final performance of the contract in the amount of 0.3% of the contract price for each day of delay.

Payment of penalties does not exclude the right to claim damages in excess of those penalties but not more than 20% of the contract price.

The agreement is considered significant because it exceeds 10% of the equity of the issuer.