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Current reports

Current report 34/2008

Report concerns:
Registration of increase in a subsidiary’s share capital

Report’s text:
Acting pursuant to para. 5 subpara. 1 point 9 of the Ordinance of the Minister of Finance of October 19, 2005 regarding current and periodical information submitted by issuers of securities (Journal of Laws No. 209, item 1744), J.W. Construction Holding S.A. with its registered office in Ząbki (“Company”) announces that on June 19, 2008, it received the decision of May 30, 2008 stating that the District Court for the Capital City of Warsaw, 14th Commercial Division of the National Court Register had made an entry concerning the increase in the share capital of the company named JWCH Produkcja Budowlana Spółka z o. o. with its registered office in Ząbki (“Subsidiary”) from PLN 100,000 to PLN 15,495,000, i.e. by PLN 15,395,000.

As a result of the change having been registered, the share capital of the Subsidiary amounts to PLN 15,495,000 and comprises 309,900 shares, each with a nominal value of PLN 50. The overall number of votes after the registration of increase in the share capital amounts to 309,900.

The increased share capital has been covered by a non-cash contribution comprising an organized part of the Company’s enterprise – a branch with an independent balance sheet named J.W. Construction Holding S.A. – “Zakład Prefabrykacji Budowlanej” Branch with its registered office in Ząbki (“Branch”). The carrying value of the assets contributed in the form of a non-cash contribution in the Company’s books of account amounted to PLN 15,394,954.13, while the value of the assets at which they have been contributed amounted to PLN 15,395,000.

Additionally, the Company announces that the information concerning the separation of an organized part of the Company’s enterprise as a Branch and contributing it in kind to the Subsidiary has, inter alia, been included in the Company’s Current Report No. 17/2008 of April 1, 2008.