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Current reports

Current report 6/2016

Legal basis:Art. 56, par. 1, item 2 of Offer Act - current and periodic information

Report Subject: establishment of a mortgage

Acting in pursuance of § 5, par. 1 of the Regulation of the Minister of finance of 19 February 2009 on the current and periodic information provided by issuers of securities and the conditions for recognition as equivalent the information required by national laws of the country which is not a member state (Journal of Laws 2009, No. 33, item 259) (“the Regulation”) J.W. Construction Holding S.A. with its registered office in Ząbki (“the Company”) hereby reports that on 14 June 2016, the Company received a notification of the entry - for the benefit of Powszechna Kasa Oszczędności Bank Polski S.A. with its registered office in Warsaw (“Bank”) – on 8 June 2016, of a contractual mortgage up to the sum of PLN 15,000,000 (“the mortgage”) in the land and mortgage register No. NS1M/00007069/8 maintained by the District Court in Nowy Sącz, 10th division of land and mortgage registers in Muszyna for the right of perpetual usufruct of the real estate featuring hotel buildings along with the infrastructure, belonging to the Company, of the plots of land located in Krynica – Zdrój at Czarny Potok street, numbered as follows 163/1, 164/1, 164/4, 174/4, 146, 172/1, 172/3, 173/1, 174/8, 174/9, covering the total area of 29,011 square meters, as well as the property right to the buildings erected in that real estate, which are properties separate from the land, whose value in the Company's accounts is PLN 173,196,290.62.

The mortgage was listed as an additional collateral for the overdraft facility granted under the agreement of 28 April 2011 in the amount of PLN 10,000,000. The mortgage secures the repayment of principal credit, interest and other ancillary costs related to the loan.

There are no links between the Company, the Issuer, their managers, and the Bank and its managers.

The basis of this report is that the value of the mortgage referred to above exceeds the equivalent of 1,000,000 EUR converted at the average rate published by the National Bank of Poland on the day on which the information obligation was created.