Investor relations

Report concerns:
Draft resolutions for the Ordinary General Meeting

Report’s text:
Acting pursuant to sec. 39, subsec. 1, point 3 in connection with sec. 97, point 5 of the Ordinance of the Minister of Finance of October 19, 2005 regarding current and periodical information submitted by issuers of securities (Official Journal [Dz.U.] No. 209/2005 item 1744) (“Ordinance”), J.W. Construction Holding S.A. with its registered office in Ząbki (“Company”) hereby submits draft resolutions for the Ordinary General Meeting summoned for June 19, 2008, together with Management Board justification.

At the same time, the Company’s Management Board announces that in Resolution No. 6 of June 3, 2008, the Supervisory Board favorably assessed the proposed distribution of profit for the financial year 2007 submitted by the Management Board, but in the aforementioned resolution it also recommended that the Ordinary General Meeting of the Company consider the following distribution of profit for the financial year 2007:
1) the coverage by the Company’s Management Board of previous years’ losses amounting to PLN 404,512.14 (say: four hundred and four thousand, five hundred and twelve zlotys 14/100) shown in the financial statements for the financial year 2007 from the Company’s supplementary capital;
2) the distribution of net profit amounting to PLN 119,409,027.74 (say: one hundred and nineteen million, four hundred and nine thousand, twenty-seven zlotys 74/100) for the financial year 2007 in the following manner:
- by allocating the amount of PLN 24,067,243.20 (say: twenty-four million, sixty-seven thousand, two hundred and forty-three zlotys 20/100) to the payment of dividend to shareholders, making July 3, 2008 the dividend record date and September 30, 2008 the dividend payment date;
- by allocating the amount of PLN 95,341,784.54 (say: ninety-five million, three hundred and forty-one thousand, seven hundred and eighty-four zlotys 54/100) to the Company’s supplementary capital.
In the view of the Management Board, the above recommendation of the Supervisory Board (concerning the change in profit distribution) results from the increase in the amount which the Management Board suggested to allocate to the purchase of the Company’s treasury shares in order to redeem them from PLN 20,000,000 to PLN 30,000,000.