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The conclusion of the significant agreement

The conclusion of the significant agreement

Date of publication: 20.06.2018

The Management Board of PROCHEM S.A. informs that has initialled and signed with BIOAGRA S.A. an agreement in the turnkey formula of General Contracting of cogeneration installation along with accompanying infrastructure for the needs of the Ethanol Production Plant “Goświnowice”. The signing on the part of BIOAGRA S.A. requires corporate approvals, which will be obtained by 30 May this year.

The remuneration of PROCHEM S.A has been determined in the lump sum PLN 33 120 000 net.
Time limit for completion – 31 August 2019.
The contract provide for contractual penalties, their value is limited to 10% of the remuneration. Each party shall be entitled to seek for compensation on general principles above the amount of contractual penalties, but no more than 20% of the remuneration.

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 expected value of the contract.