Investor relations

Legal basis: Legal basis: Article 17 section 1 of MAR – confidential information

Subject of the report: Change of a significant agreement between subsidiaries.

The Management Board of J.W. Construction Holding S.A. with its registered office in Ząbki (the "Company") informs that on November 14, 2018, an annex was signed to the agreement of 28 February, 2017 concluded by and between the subsidiaries of the Company: i.e. Hanza Invest S.A. with its business seat in Ząbki, Poland as the Investor ("Investor") and J.W. Construction spółka z o.o. with its business seat in Ząbki, Poland as the General Contractor ("Contractor”) for the completion by the Contractor of the construction of a residential and service building in Szczecin at Wyzwolenia and Odzieżowa streets called "Hanza Tower" about the conclusion of which the Company informed in the current report no. 9/2017 of 28 February, 2017.

By way of the annex, the following was changed:

1. Scope of works by increasing the scope of works due to changes resulting from the executive design.
2. The deadline for obtaining a legally valid certificate of occupancy was set for July 30, 2020.
3. The lump sum remuneration agreed upon between the parties was increased to PLN 173,000,000 increased by VAT at the rate applicable on the day invoicing. The increase in remuneration takes into account the costs of works resulting from the increase of the scope of works as well as the fact that the Contractor has actually incurred higher construction costs calculated on the basis of the steel and concrete used. 

The basis for the submission of this report is, in the Company's opinion, the relevance of the concluded annex to the operations of the Company's Capital Group.