Investor relations

Acting in pursuance of § 5, par. 1, item 3) 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 informs that within a period of 12 months, the Company and its subsidiary have concluded with Getin Noble Bank S.A. with its registered office in Warsaw (“Bank”), two loan agreements with a total value exceeding 10% of the Company's equity.The agreement of the highest value is the one concluded between the Bank and the Company on 10 February 2015, pertaining to the investment loan for institutional customers of up to PLN 39,900,000 (“Agreement”). The loan is intended to finance and refinance the gross costs of implementing the investment “Osiedle Bernadowo Park” in Gdynia at Leśna/Parkowa street, consisting of six multi-family buildings, in total: 196 housing units (the “Investment”). The deadline for the repayment of the loan was set at 20 Dec. 2017. The loan interest rate was set at WIBOR 3M + the Bank’s margin. The loan is hedged by:- a mortgage up to PLN 59,850,000, entered in the land and mortgage register No. GD1Y/00112532/4 kept by the District Court in Gdynia, 5th Mortgage Register Division;- a blank promissory note of the Company together with a promissory note declaration;- power of attorney to all accounts held in the Bank;- transfer of receivables to the Bank from agreements concluded by the Company with the buyers of the investment premises;- transfer of receivables to the Bank from the construction insurance contract (against assembly and construction risks) and, upon completion thereof, the transfer of the monetary claim under the property insurance contract against fire and other fortuitous events.The loan shall be deployed in tranches.The activation of the credit is dependent, among other things, on the submission of a petition for the establishment of the mortgage described above, the establishment of securities provided for in the Agreement, submitting a declaration on submission to enforcement pursuant to Article 97 of the Banking Law, and issuing a promissory note, confirmation by the Bank's employee with the appraiser's rights of the value of the property constituting the mortgage guarantee, submitting a positive opinion by a person collaborating with the Bank on the construction authorizations as regards the validity of the assumptions regarding the planned area, the date of execution of the investment and the reasonableness of the costs, submission of a valid construction permit consistent with the assumed investment costs, documenting the Company’s own engagement in the amount of the total investment costs, submission of developer agreements regarding pre-sale of the defined usable area of the apartments against a restricted minimum sale price.