Investor relations

Subject: Amendment to a significant agreement between subsidiaries.

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

Content of the report:

The Management Board of J.W. Construction Holding S.A. with its registered office in Ząbki ("Company") informs that on 30 December 2020 an annex to the agreement of 28 February 2017 was concluded between the Company's subsidiaries: Hanza Invest S.A. with its registered office in Ząbki as an Investor ("Investor") and J.W. Construction Spółka z o.o. with its registered office in Ząbki as the General Contractor ("Contractor"), the subject matter of which is the completion by the Contractor of the construction of a residential and commercial building in Szczecin at Wyzwolenia Street and Odzieżowa Street - "Hanza Tower", of which the Company informed in current report 9/2017 of 28 February 2017 and of the change in reports no. 34/2018 of 14 November 2018, no. 11/2019 of 12 April 2019 and no. 62/2020 of 7 August 2020.

By way of the annex, the following has been altered:

1. Scope of works has been increased in connection with additional works agreed between the parties to be carried out inside as well as outside the building

2. Due to the change (extension) of the agreed scope of works and changes in prices of materials and services, the remuneration for the contract was increased to PLN 216,526,500 net plus VAT at the applicable rate.

3. Deadlines: completion of work set for 31 March 2021 and obtaining a valid occupancy permit set for 30 April 2021. 

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