investor relations
Report concerns:
Establishing of mortgage
Report’s text:
Acting on the basis of § 5 sect. 1, point 1 of Minister of Finances resolution dated on October 19th 2005 concerning the valid and periodic information conveyed by issuers of securities (Dz. U. dated on 2005, No. 209, poz. 1774) ("Resolution") J.W. Construction Holding S.A. with headquarters in Ząbki ("Company") informs that on October 8th 2007 the Company was sent information by the Regional Court for Warsaw-Mokotów, XV Department of Mortgage Books, dated on October 1st 2007, that on September 14th 2007 there was entered, in section IV of Mortgage Book no. WA6M/00438988/7, run by this Court, for belonging to our Company’s real estate localized in Warsaw at Łukowska Street (“Real Estate”), maximum mortgage – up to the highest amount of 36.166.000 PLN for the benefit of Bank Ochrony Środowiska S.A. I Department in Warsaw (“Bank”). Credit agreement, which is secured by the above-mentioned maximum mortgage was described in details in Valid Report of the Company No. 10 dated on May 31st 2007. On the Real Estate the Company executes a developer project of multi-family building construction named "Quatro residence”. Value of the Real Estate in accounting books of the Company is quoted according to its purchasing price and it doesn’t exceed 10% of Company’s own capitals. There don’t exist any connections between Bank and persons managing the Bank, and Company or members of its Managing Board as well as Supervising Board. Criteria that state that the contemplated mortgage is obligatorily revealed according to § 5 section 1, point 1 of the Resolution there is its value exceeding the equality in PLN the amount of 1.000.000 Euro.