Investor relations

Report concerns:
Taking the decision on the intended merger

Report’s text:
Acting pursuant to § 5 Clause 1 Section 13) of the ordinance of the Minister of Finance of 19 October 2005 on current and periodic information submitted by issuers of securities (Journal of Laws of 2005 No. 209, item 1744) J.W. Construction Holding S.A. with its registered office in Ząbki (the “Company”) hereby notifies that on 30 June 2008 it took a decision on the intended merger of the Company with its subsidiary, Przedsiębiorstwo Turystyczne "CZARNY POTOK" S.A. with its registered office in Krynica (the “Acquired Company”). On 30 June 2008 the Company and the Acquired Company agreed upon and signed a plan of the merger, preceded with written arrangements of both companies under Article 498 of the Code of Commercial Companies (Kodeks spółek handlowych) of the same date.

The merger shall be carried out in accordance with Article 492 § 1 Section 1) of the Code of Commercial Companies, i.e. through transfer of the total assets of the Acquired Company to the Acquiring Company as the sole shareholder of the Acquired Company, pursuant to the procedure specified in Article 515 § 1 and Article 516 § 6 of the Code of Commercial Companies.

The Company was entered into the register of entrepreneurs under National Court Register No. 0000028142 on 16 July 2001. The principal object of the Company is development and sale of real property on its own account, performance of the construction, design, and auxiliary production, trade in real property, sale of aggregates, and hotel services.
The Acquired Company was entered into the register of entrepreneurs under National Court Register No. 91153 on 14 February 2002. The principal object of the Acquired Company is hotel and catering activity related to the organization of holiday and tourist services.

The merger is aimed at incorporating the leisure centre owned by the Acquired Company in Krynica Zdrój into the structures of J.W. Construction Holding S.A. the “Hotel 500” Branch. The above is consistent with the Company’s policy of development of a hotel network within the framework of a single entity, decreasing the general expenses related to the operation of the Acquired Company, and simplification of the management structure of particular business lines within the scope of the Company’s Capital Group. The merger shall be carried out under Article 516 § 6, in relation to Article 515 § 5 of the Code of Commercial Companies. With respect to the above and in relation to the merger, reports of the Management Boards of the merging companies and an opinion of the certified auditor have not been drawn up.

Appendices:
Plan of merger with enclosed documents as follows: