Sale of subsidiary

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Date of publication: 27.10.2016

The Management Board of PROCHEM S.A. (the “Issuer”) announces that on 25 October 2016 entered into an agreement of sale of shares in the company “Pro-Organika” sp. z o.o., under which it sold the 640 shares with a total nominal value PLN 320,000.00 representing totality of the shares held in the share capital of “Pro-Organika” sp. z o. o. for the total price of PLN 652,160.00, whereby:

– disposal will occur through the sale of shares in two packages; first package includes the sale of 280 shares, the second package includes the sale of 360 shares;
– the sale price for the acquisition of 280 shares i.e. PLN 285 320 will be paid by the purchaser within 30 days from the date of the conclusion of the agreement;
– the sale price for the acquisition of 360 shares, i.e. PLN 366 840 will be paid by the purchaser within 120 days from the date of the conclusion of the agreement. PLN 366 840 will be paid by the purchaser within 120 days from the date of the conclusion of the agreement.

The shares were sold to Mr. Andrzej Żelazo – the President of the Management Board, the shareholder of “Pro-Organika” sp. z o.o. who had so far 8.6% of the share capital.
Issuer sold all the shares in the share capital of “Pro-Organika” sp. z o. o. z o. o.

The Management Board of the Issuer’s company decided that the above information meets the criteria for confidential information specified in Art. 7 paragraph 1, 2 and 4 of MAR due to the fact that will occur a change in the composition of the Capital Group of PROCHEM resulting from the aforementioned agreement of sale of shares.