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Legal basis:Art. 56, par. 1, item 2 of the 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 informs that on 29 Sept. 2015, it became aware that the District Court for Warsaw Mokotów in Warsaw, 9th Mortgage Register Division - on 16 Sept. 2015 - entered a mortgage in Section IV of the land and mortgage register No. WA3M/00474927/5.

The total mortgage of PLN 25,500,000 was established on the property right to the land plot no. 53/6 owned by the Issuer, covering the area of 0.8749 hectares, located in Warsaw, in Białołęka District at Kartograficzna street (“real property”) for the benefit of Plus Bank S.A. with its registered office in Warsaw (formerly Invest Bank S. A.) (“Bank”). The mortgage secures the repayment of the loan granted by the Bank to the Company in the amount of PLN 15,000,000, the interest, commissions and fees, and other incidental receivables.

The mortgage was established in connection with a change in the collateral of the loan granted by the Bank.

In addition, the mortgage burdens the real estates included in the land and mortgage registers kept by the District Court for Warsaw Mokotów in Warsaw, 9th Division of land and mortgage registers: book numbers WA3M/00210786/6, WA3M/00439732/4, WA3M/00430534/3, WA3M/00448890/5, WA3M/00446233/8, WA3M/00446234/5. The Issuer reported the establishment of a mortgage in respect of the abovementioned land and mortgage registers the current report No. 17/2013 of 24 May 2013. 

The mortgage will also encumber the real estate or shares in the real estates referred to in the boooks SL1L/00032459/8, SL1L/00032981/6, SL1L/00031306/4 and SL1L/00032460/8 maintained by the District Court in Lębork, 5th Land and Mortgage register division.

The value of the encumbered property in the accounting books of the Issuer amounts to PLN 1,395,829.

In the real estate, the Issuer plans to execute a residential investment, consisting in the building of a multi-family unit with residential premises for sale.

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 established 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.