Selling of assets of considerable value by the indirectly subsidiary of PROCHEM S.A.

Home page Investor relations Current reports Selling of assets of considerable value by the indirectly subsidiary of PROCHEM S.A.

Date of publication: 03.12.2010

On December 3, 2010, based on a notarial deed of transfer of shares (entire rights and obligations), IRYD Sp. z o.o., based in Warsaw, sold its stake in the company IRYD SPÓŁKA Z O.O. CONCORDE INVESTISSEMENT S.A. – LIMITED PARTNERSHIP to APUS S.A., based in Warsaw. IRYD Sp. z o.o. is an indirectly subsidiary company of PROCHEM S.A., through the ownership of 100% of shares in IRYD Sp. z o.o. by PROCHEM INWESTYCJE Sp. z o.o., a subsidiary of PROCHEM S.A. The value of the sold share is 1,350,000 PLN, representing 49.98% of the capital of the limited partnership, and the entirety of rights and obligations attributable to the seller in the Limited Partnership, in particular 42.5% of the share in the profits of this company. The purchase/sale price of the share is 1,610,000 PLN. The criterion for recognizing the aforementioned assets as assets of significant value under RRM is the fact that IRYD Sp. z o.o. sold more than 20% of the shares of the limited partnership.