Investor relations

Report concerns:
Change in a mortgage entry

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 and on conditions of accepting as equivalent of the information required by legal regulations of a non-member country of 19 February 2009 (Journal of Laws No. 33/2009, item 259) (henceforth the Ordinance), J.W. Construction Holding S.A., with its seat in Ząbki (henceforth the Company) hereby reports that on 22 June 2009 the Company received a Notification from the District Court for Warsaw Mokotów, 9th Land and Mortgage Division (henceforth the Court) of 18 June 2009 informing of the change concerning the following mortgages: an ordinary contractual collective mortgage in the amount of PLN 43,000,000 and a contractual collective capped mortgage up to the amount PLN 12,470,000 (henceforth the Mortgages), whose establishment was reported in the Current Report 52/2008 of 29 July 2008, entered in the Land and Mortgage Register under No. WA3M/00211006/2, WA3M/00445516/9, WA3M/00446053/2 and WA3M/00211332/6, established for the benefit of Powszechna Kasa Oszczędności Bank Polski S.A. 15 Oddział w Warszawie (Branch 15 in Warsaw) (henceforth the Bank).

Currently, the Mortgages co-encumber also the properties owned by the Company and located in Warsaw, Białołęka District, at ul. Lewandów, designated as record parcels No. 40/5, 40/6, 40/7, 40/8, 40/9, 40/10, 40/11 and 40/4 from the precinct 4-16-34 with the total surface area of 0.2184 ha, entered in the Land and Mortgage Register maintained by the District Court for Warsaw Mokotów, 9th Land and Mortgage Division under No. WA3M/00453818/5; and the properties designated as record parcels No. 37/2, 37/3, 37/4, 37/6, and 37/7 from the precinct 4-16-34 with the total surface area of 0.8196 ha, entered in the Land and Mortgage Register maintained by the District Court for Warsaw Mokotów, 9th Land and Mortgage Division under No. WA3M/00456755/6 (henceforth the Parcels).

The execution of a development project on the Parcels, consisting in the construction of a multifamily residential estate is intended. The value of the Parcels is entered in the Company’s accounting books at their purchase price and does not exceed 10% of the Company’s equity capital.
There are no connections between the Bank, or the persons managing the Bank, and the Company, or the members of its Management Board or Supervisory Board.
The criterion making the said mortgage subject to disclosure pursuant to section 5.1.(1) of the Ordinance was its value exceeding the Polish zloty equivalent of EUR 1,000,000.