Investor relations

Report concerns:
Mortgage establishment

Report’s text:
Acting pursuant to section 5.1.(1) of the Ordinance of the Minister of Finance on current and periodical reporting by issuers of securities of 19 October 2005 (Journal of Laws of 2005 No. 209, item 1744) (henceforth the Ordinance), J.W. Construction Holding S.A., with its seat in Ząbki (henceforth the Company) hereby reports that on 13 January 2009 the Company became aware of entering on 17 December 2009 the following mortgages by the District Court in Muszyna, 4th Division of the Land and Mortgage Register, in Section 4 of the Land and Mortgage Register No. NS1M/00007069/8 kept by the aforementioned Court for the real properties located in Krynica-Zdrój, Nowy Sącz District, Malopolskie Voivodship, with a total area of 2.9528 ha, on which modernisation and expansion of the facility previously owned by the acquired company under the name of PRZEDSIĘBIORSTWO TURYSTYCZNE "CZARNY POTOK" S.A., with its seat in Krynica, are being conducted (the Company informed thereof in the current report No. 102/2008 of 9 December 2008) (henceforth the Real Property): an ordinary contractual mortgage for the amount of PLN 66,803,028 and a contractual capped mortgage up to the amount of PLN 20,040,908 for the benefit of Powszechna Kasa Oszczędności Bank Polski S.A. 15 Oddział w Warszawie (15th Branch in Warsaw) (henceforth the Bank) as a collateral to secure the loan agreement the conclusion of which was announced by the Company in the current report No. 84/2008 of 24 October 2008. The value of the Real Property in the Company’s accounting records does not exceed 10% of the Company’s equity. There are no relations between the Bank / its managers and the Company / members of its Management and Supervisory Boards. In line with section 5.1.(1) of the Ordinance, the aforementioned mortgages were deemed subject to the disclosure obligation due to their amount, exceeding the PLN equivalent of EUR 1,000,000.