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The solution of a significant contract by a subsidiary

The solution of a significant contract by a subsidiary

Date of publication: 21.12.2012

On 21 December 2012 PROCHEM S.A. received information from a subsidiary Elektromontaż Kraków S.A. on the solution on 5 December 2012 on the basis of agreement between the parties significant agreement concluded on 18 May 2011 between the Jagiellonian University and the Consortium attended by Elektromontaż Kraków S.A.

The subject of the contract was to design and execution of construction and assembly works and the supply of materials and installation of equipment and furnishing PADEREVIANUM II Jagiellonian University.

The conclusion of above contract the issuer announced in the current report No 12 on 30 May 2011.

The reason for solution of the contract is the current financial condition of the Consortium Leader – the company Budostal 2 and other circumstances unpredictable at the stage of bidding and signing the contract. As a result of the solution of above contract backlog of orders of Elektromontaż Kraków S.A. will be reduced by about 4 million PLN.