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Sale of assets of significant value by the issuer to its subsidiary Sale of assets of significant value by the issuer to its subsidiary
Date of publication: 19.12.2013
On 18 December 2013 the agreement was signed under which PROCHEM SA sold 70,000 shares of Elektromontaż Kraków S.A., each with a nominal value of PLN 5 to its subsidiary PROCHEM INWESTYCJE Sp. z o. o.
Shares as above were sold at PLN 80 each, i.e. a total of PLN 5,600,000.
Book value of these assets in the account books of PROCHEM S.A. amounts to PLN 515, 838.44 The amount specified in the contract will be transferred to the account of PROCHEM S.A. within 2 days from the date of conclusion of the contract of sale of shares.
The source of financing the transactions are own funds of PROCHEM INWESTYCJE Sp. z o. o.
PROCHEM S.A. holds 100% shares in PROCHEM INWESTYCJE Sp. z o. o.
Elektromontaż Kraków S.A. whose shares are traded, is a subsidiary of PROCHEM SA. Before the transaction PROCHEM S.A. directly holds 38.75% of the equity of the company.
After the transaction, PROCHEM S.A. will directly hold 11.62% of the capital of Elektromontaż Kraków.
After the transaction PROCHEM INWESTYCJE Sp. z o.o. will hold 58.68% of the capital of the company.
Participation in the capital and voting rights directly and indirectly (by the company PROCHEM INWESTYCJE) of PROCHEM SA in Elektromontaż Kraków SA as at the date of the report is 70.3%