Investor relations

Report concerns:
Establishment of a mortgage

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 29 June 2009 the Company became aware of entering on 26 June 2009 by the District Court for Piaseczno 4th Land and Mortgage Division (henceforth the Court), in section 4 of the Land and Mortgage Register maintained by the said Court for residential and commercial units owned by Lokum Spółka z o.o with its registered office in Warsaw, a Company's subsidiary,
entered in the Land and Mortgage Register under the following numbers:

WA1I/00008274/7 for the unit located in Konstancin at ul. Bielawska 48 A apartment 5,
WA1I/00008275/4 for the unit located in Konstancin at ul. Bielawska 48 A apartment 9,
WA1I/00008276/1 for the unit located in Konstancin at ul. Bielawska 48 A apartment 26,
WA1I/00008277/8 for the unit located in Konstancin at ul. Bielawska 48 B apartment 33,
WA1I/00008278/5 for the unit located in Konstancin at ul. Bielawska 48 B apartment 40,
WA1I/00008279/2 for the unit located in Konstancin at ul. Bielawska 48 B apartment 53,
WA1I/00008280/2 for the unit located in Konstancin at ul. Bielawska 48 B apartment 65,
WA1I/00008281/9 for the unit located in Konstancin at ul. Bielawska 48 B apartment 66,
WA1I/00008282/6 for the unit located in Konstancin at ul. Bielawska 48 B apartment 71,
WA1I/00008283/3 for the unit located in Konstancin at ul. Bielawska 48 B apartment 75,
WA1I/00008284/0 for the unit located in Konstancin at ul. Bielawska 48 B apartment 79,
WA1I/00008286/4 for the unit located in Konstancin at ul. Bielawska 48 B apartment 103,
WA1I/00008287/1 for the unit located in Konstancin at ul. Bielawska 48 B apartment 105,
WA1I/00008288/8 for the unit located in Konstancin at ul. Bielawska 48 B apartment 106,
WA1I/00008289/5 for the unit located in Konstancin at ul. Bielawska 48 B apartment 133,
WA1I/00008290/5 for the unit located in Konstancin at ul. Bielawska 48 B apartment 136,
WA1I/00008292/9 for the unit located in Konstancin at ul. Bielawska 48 B apartment 146,
WA1I/00008293/6 for the unit located in Konstancin at ul. Bielawska 48 B apartment 150,
WA1I/00008294/3 for the unit located in Konstancin at ul. Bielawska 48 B apartment U1,
WA1I/00008295/0 for the unit located in Konstancin at ul. Bielawska 48 B apartment U2,

(henceforth the Property) a contractual collective capped mortgage up to the amount of PLN 24,000,000 established for the benefit of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna Oddział 15 w Warszawie (Branch 15 in Warsaw) (henceforth the Bank).

The said mortgage co-encumbers also the following parcels:

- parcel located in Warsaw, Białołęka District, at ul. Berensona, designated as a record parcel No. 135 from the precinct 4-16-29 with the total surface area of 0.3899 ha, entered in the Land and Mortgage Register under No. WA3M/00165783/4;

- parcel located in Warsaw, Białołęka District, at ul. Berensona, designated as record parcels No. 55/1, 55/3 and 133 from the precinct 4-16-29 with the total surface area of 0.5628 ha, entered in the Land and Mortgage Register under No. WA3M/00446888/4;

- parcel located in Warsaw, Białołęka District, at ul. Berensona, designated as a record parcel No. 132 from the precinct 4-16-29 with the total surface area of 0.2155 ha, entered in the Land and Mortgage Register under No. WA3M/00448432/7;

- parcel located in Warsaw, Białołęka District, at ul. Berensona, designated as a record parcel No. 130 from the precinct 4-16-29 with the total surface area of 0.1497 ha, entered in the Land and Mortgage Register under No. WA3M/00447251/7;

- parcel located in Warsaw, Białołęka District, designated as a record parcel No. 58 from the precinct 4-16-29 with the total surface area of 0.2364 ha, entered in the Land and Mortgage Register under No. WA3M/00447980/6;

- parcel located in Warsaw, Białołęka District by the canal, designated as a record parcel No. 50 from the precinct 4-16-29 with the total surface area of 0.1522 ha, entered in the Land and Mortgage Register under No. WA3M/00446890/1;

- parcel located in Warsaw, Białołęka District by the canal, designated as a record parcel No. 53 from the precinct 4-16-29 with the total surface area of 0.1480 ha, entered in the Land and Mortgage Register under No. WA3M/00446889/1;

- parcel located in Warsaw, Białołęka District at ul. Berensona, designated as a record parcel No. 54 from the precinct 4-16-29 with the total surface area of 0.1355 ha, entered in the Land and Mortgage Register under No. WA3M/00447132/7;

- parcel located in Warsaw, Białołęka District at ul. Berensona, designated as record parcels No. 134, 56/1 and 56/3 from the precinct 4-16-29 with the total surface area of 0.6658 ha, entered in the Land and Mortgage Register under No. WA3M/00446891/8
Entering a mortgage to the sections of the Land and Mortgage Register kept for the above parcels was reported by the Company in the Current report 29/2009 of 22 June 2009.

The said mortgage co-encumbers also the units located in Łódź at ul. Tymienieckiego 16D, 16E, 6 F, 16G.
The value of the Property is entered in the Company’s accounting books at the manufacture 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 persons managing or supervising the Company.
The criterion making the said mortgages subject to disclosure was their value. The amount of the mortgage exceeds the Polish zloty equivalent of EUR 1,000,000, translated at the average exchange rate of the National Bank of Poland as at the day the criterion of the disclosure obligation was met.