The conclusion of a contract for the design work and construction and assembly works

Date of publication: 08.12.2017

The Management Board of PROCHEM S.A. informs that on 7 December 2017 ompany PROCHEM S.A. signed a contract with “Pałac Na Wodzie” Sp. z o. o. based in Staniszów. The subject of the contract is the execution of design works and construction and assembly works for the investment task consisting in the expansion of the hotel complex “PAŁAC NA WODZIE W STANISZOWIE”.

The value of the contract – PLN 25 005 160 PLN (NET VALUE). Time limit for completion – 16 months from the coming into force of the contract. The Agreement shall enter into force after delivery by the Investor of the document evidencing the possession of financing for the project.

The contract contains provisions relating to contractual penalties. Each party shall be entitled to seek compensation on general principles above the amount of contractual penalties The agreement was considered significant because the value of the agreement exceeds 10% of the Issuer’s equity.

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 because the value of the contract exceeds amount of 10% of the Issuer’s equity.