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