Investor relations

Legal basis: Article 17(1) of MAR – confidential information

Topic: Conclusion of a material preliminary contract for land acquisition.

Content of the report:

The Management Board of the company styled J.W. Construction Holding S.A. with its registered office in Ząbki (‘Company’) reports that on 13 June 2017 It entered into a preliminary contract for acquisition of plots of land which constitute the right of perpetual usufruct of land, and title of ownership of the buildings situated in Gdańsk at 67, Starowiejska street. The subject-matter of the contract refers to plots of land of a total surface area of 0.8450 ha, for which Land and Mortgage Register No GD1G/00043057/0 is kept, and the plot of land that will be created following division of plot No 83/9, with expected surface area of 0.1243 ha, for which Land and Mortgage Register No GD1G/000129198/7 is kept (‘Real Property’).

The price of Real Property was set at PLN 20,500,000 net + VAT.

The final sales contract is to be concluded by 13 June 2018. 

The Seller granted the Company the right to use the real property for contruction purposes. 

The Company will pay the gross amount of PLN 2,460,000 as earnest money with the effects specified in Article 394 of the Civil Code, and the remaining sales price will be paid at the time of the final sales contract. 

The Seller undertook to legally finalise the division of plot No 83/9 and provide a bank commitment letter with respect to the consent to the deletion of mortgage following the repayment of the credit secured by the said commitment letter prior to the conclusion of the final contract. 

The basis for submission of this report is the relevance of the event to the Company’s operations.