The disposal of an asset by a subsidiary

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The Management Board of PROCHEM S.A. („Issuer”) informs, that on 15 May 2015 a subsidiary of the Issuer – Elmont Inwestycje Sp. z o.o. seated in Kraków entered into an agreement on the cession of the right of perpetual usufruct, and concluded the agreement on cession of rights, under which Elmont Investments Sp. z o.o., for the price of EUR 4,000,000.00 + VAT has transferred on the purchaser:

• the right of perpetual usufruct of land located in Krakow, in the Podgórze district, with an area of 1,882 hectares,
• the right to a building design which was approved through a building permit.

The Parties also concluded a separate agreement, under which Elmont Investments Sp. z o.o. conditionally is entitled to commission in the height not exceeding the amount of EUR 1,000,000.00. The right to receive commission and the final amount of the commission depend on the obtaining by the purchaser of the changed building permit, in a building that is to be built on the property to which refers the right of perpetual usufruct referred to in the introduction, and on the final area of lease, which is indicated in the amended building permit .

Elmont Inwestycje Sp. z o.o. is a company jointly controlled by the Issuer and its subsidiary – Elektromontaż Kraków S.A. seated in Kraków.