Investor relations

Report concerns:
Convening of the Extraordinary General Meeting
Report’s text:
As required under Article 39 para. 1 of the Ordinance of the Minister of Finance of 19 October 2005 on Current and Periodic Disclosures by Securities Issuers (Journal of Laws [Dz.U.] of 2005, No. 209, item 1744) (“Ordinance”), J.W. Construction Holding S.A. with its registered office in Ząbki (“Company”) announces that the Extraordinary General Meeting (“EGM”) has been convened by the Management Board of the Company to take place at 12:00 noon on 1 April 2008 at the registered office of the Company in Ząbki, ul. Radzymińska 326, with the following agenda:
1. Opening of the EGM;
2. Appointment of the Chair;
3. Determination of the correctness of convening the EGM and of its ability to adopt resolutions;
4. Appointment of the Ballot Counting Committee;
5. Adoption of a resolution on the spin-off of J.W. Construction Holding S.A. Oddział “Pracownia Architektoniczna” (“Architecture Workshop” Branch) with its registered office in Ząbki as an in-kind contribution to the subsidiary company JW Projekt Spółka z o.o. (former Dremet – Projekt Spółka z o.o.) with its registered office in Warsaw;
6. Adoption of a resolution on the spin-off of J.W. Construction Holding S.A. Oddział “Budownictwo” (“Construction” Branch) with its registered office in Ząbki as an in-kind contribution to the subsidiary company J.W. Construction Spółka Akcyjna with its registered office in Ząbki;
7. Adoption of a resolution on the spin-off of J.W. Construction Holding S.A. Oddział “Zakład Prefabrykacji Budowlanej” (“Construction Prefabricate Plant” Branch) with its registered office in Ząbki as an in-kind contribution to the subsidiary company JWCH Produkcja Budowlana Spółka z o.o. with its registered office in Ząbki;
8. Amendments to the Articles of the Company;
9. Authorisation of the Supervisory Board to adopt a consolidated text of the Articles of the Company;
10. Closing of the EGM.

In view of the proposed amendments to the Articles of the Company, the Management Board has listed below the existing provisions and the proposed amendments:

Para. 14 sub-para. 1 reads:
The Management Board of the Company shall comprise three to eight members, including the President of the Management Board and the President of the Holding, who shall be appointed for a common term of office. The number of Management Board members shall be determined by the Supervisory Board. The number of Management Board members may be subject to change during the term of office.

Para. 14 sub-para. 1 is proposed to read:
The Management Board of the Company shall comprise three to eight members, including the President of the Management Board, who shall be appointed for a common term of office. The number of Management Board members shall be determined by the Supervisory Board. The number of Management Board members may be subject to change during the term of office.

Para. 14 sub-para. 2 reads:
A shareholder holding more than 50 per cent of the shares in the Company shall be entitled to personally appoint and remove half of the members of the Management Board, including the President of the Management Board and the President of the Holding. In the event of an uneven number of Management Board members, the aforementioned shareholder shall be personally entitled to appoint and remove, respectively, two Management Board members (in the event of a three-member Management Board), three Management Board members (in the event of a five-member Management Board) and four Management Board members (in the event of a seven-member Management Board). This entitlement shall be exercised by delivery of written notice to the Company concerning the appointment or removal of a member of the Management Board, the President of the Management Board or the President of the Holding. In the event of an appointment, the aforementioned notice shall be supported by an appointee’s consent to the appointment. The other members of the Management Board shall be appointed and removed by the Supervisory Board.

Para. 14 sub-para. 2 is proposed to read:
A shareholder holding more than 50 per cent of the shares in the Company shall be entitled to personally appoint and remove half of the members of the Management Board, including the President of the Management Board. In the event of an uneven number of Management Board members, the aforementioned shareholder shall be personally entitled to appoint and remove, respectively, two Management Board members (in the event of a three-member Management Board), three Management Board members (in the event of a five-member Management Board) and four Management Board members (in the event of a seven-member Management Board). This entitlement shall be exercised by delivery of written notice to the Company concerning the appointment or removal of a member of the Management Board or the President of the Management Board. In the event of an appointment, the aforementioned notice shall be supported by an appointee’s consent to the appointment. The other members of the Management Board shall be appointed and removed by the Supervisory Board.

Para. 14 sub-para. 11 shall be deleted.
The right to participate in the Extraordinary General Meeting shall be restricted to the shareholders who submit at the Company’s registered office a registered deposit certificate specifying the number of shares in their possession and stating that such shares are and will remain blocked until the close of the Extraordinary General Meeting. Registered deposit certificates shall be submitted by 25 March 2008 by 4 p.m. at the Company’s registered office in Ząbki, 326 Radzymińska Street.