The conclusion of the significant agreement

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Date of publication: 21.11.2017

On November 21, 2017 PROCHEM S.A. received a signed contract with BIOAGRA S.A. for the design work and for acting in the capacity of Management Contracting (GRI) for the extension and modernization of the process installations.

Formula of remuneration for Management Contracting includes margin and the costs of implementation of the subject of this contract, so remuneration of PROCHEM S.A. it will be possible to determine after final settlement of the costs incurred. The Issuer expects that it will exceed 10% of its equity.
Time limit for execution – 3rd quarter of 2018.

The contract provide for contractual penalties, their value is limited to PLN 480 zloty. Each party shall be entitled to seek compensation on general principles above the amount of contractual penalties but no more than PLN 2,4 million.

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.