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Concluding of the meaning agreement by PROCHEM S.A.

Concluding of the meaning agreement by PROCHEM S.A.

Date of publication: 29.07.2010

On 28 July 2010, PROCHEM S.A. signed the agreement with Zakłady Chemiczne ZACHEM S.A. – Grupa Chemiczna CIECH, for performing the functions of the investment project’s general contractor for project “Installation contracting and introduction of technological innovations for production of epichlorohydrin from glycerin” in Bydgoszcz.

Investment project is co-financed from funds gained from European Union as a part of 4.4. Operational Programme of Innovative Management for 2007 – 2013.

The format of the remuneration of a general contractor is embracing profit margin and covering costs of implementation of the subject of the contract, and therefore the remuneration of the company will be possible to determine after final cost calculation.

The issuer expects that it will exceed 10 % values of equity capitals; therefore the agreement was regarded as important.

Date of completion – 31 December 2011.

Contractual penalties and claims for damages are limited as for the ceiling to amount of 10 % of budget of investment.