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Conclusion of a significant agreement by a subsidiary of PROCHEM S.A. Conclusion of a significant agreement by a subsidiary of PROCHEM S.A.
Date of publication: 30.11.2015
On November 30, 2015 the Company PROCHEM S.A. received information from subsidiary – PKI PREDOM Sp. z o.o. about the conclusion of agreement with the client from industrial sector covering design works and performance of the works in the formula of GRI (Management Contracting) for the production facility.
Formula of remuneration for the works executed in the formula of GRI (Management Contracting) includes a margin and covering of costs of implementation of the subject of the contract, so remuneration of PKI PREDOM will be possible to be determined after the final settlement of the incurred costs. The Issuer expects that it will exceed 10% of the Issuer’s equity, and therefore the agreement was considered significant.
Deadline for completion – 3rd quarter of 2016.
The agreement contains provisions relating to contractual penalties, their value is limited to PLN 250 thousand zloty. The agreement was considered significant because the value of the agreement exceeds 10% of the Issuer’s equity.