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Enforcement of the judgment in a case instituted by the Issuer against PERN SA.

Enforcement of the judgment in a case instituted by the Issuer against PERN SA.

Date of publication: 15.11.2017

With reference to the information in the interim reports of PROCHEM S.A. (The “Issuer”) concerning a court proceeding which pertains to settlement of accounts for a contract in the formula of GRI (Management Contracting) between PERN SA and Consortium the Leader of which was the Issuer, for the implementation of the investment project under the name of “Rurociąg w relacji ST-1 Adamowo-Baza Surowcowa Plebanka”, and which was suspended on November 10, 2005, and also with reference to Current Report No. 19/2017 of 30 October 2017, the Management Board of the Issuer informs that on November 14, 2017, the Issuer received a confirmation of the inflow of the amount of PLN 91 117 644.15 being the principal claim and statutory interest on its bank account, based on the judgment of the District Court in Warsaw, XXVI Commercial Division, dated 22 October 2015, as well as based on the judgment of the Court of Appeal in Warsaw, 1st Civil Division of 30 October 2017 which were issued in legal proceedings against PERN SA. The share of the Issuer in the amount received is approximately 50%.

Assumed impact of the above-stated circumstances on the performance of the Issuer has been described in the interim report for the third quarter, published on 14 November 2017.

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 value of the enforced amount.