Investor relations

Financial Supervision Commission
Current report 12/2010
Date of issue: 12 March 2010
Short name of the issuer J.W. CONSTRUCTION HOLDING S.A.
Report concerns: Convening of the Extraordinary General Meeting
Legal basis: Article 56.1 point 2 of the Act on Public Offering- current and periodic information
Report's text:
Ząbki, 12 March 2010

The Management of J.W. Construction Holding S.A., domiciled in Ząbki (“Company”), registered with the Register of Companies of the National Court Register under number 0000028142, whose registration files are kept by the District Court for the Capital City of Warsaw, 14th Business Division of the National Court Register and on the basis of section 398, section 399.1, section 4021 and section 4022 of Commercial Companies Code and section 38.1 of the Ordinance of the Minister of Finance of 19 October 2005 on current and periodical reporting by issuers of securities (Journal of Laws No. 209, item 1744) convenes the Extraordinary General Meeting of the Company ("EGM" or "General Meeting"), that will be held on 8 April 2010 at 13.00 in the Company's headquarters in Radzymińska 326, Ząbki with the following agenda:

1. Opening of the General Meeting;

2. Election of the Chairman of the Ordinary General Meeting;

3. Declaration that the Ordinary General Meeting has been convened properly and is capable of adopting resolutions;

4. Adoption of the agenda of the Ordinary General Meeting;

5. Adoption of the agenda regarding the remuneration of the members of the Supervisory Board

6. Changes to articles of association;

7. Giving the Supervisory Board authorization to determine the uniform text of the Articles of Authorization;

8. Closing of the Ordinary General Meeting;

1. Day of entry and the right to participate in the EGM

The Company Board announces that the right to participate in the General Meeting , in accordance with section 4061 of CCC, have only those who are the shareholders of the Company for sixteen day before the General Meeting, that is on 23 March 2010 ("Registration Day") provided that they submit to the entity keeping such shareholder’s securities account a request for the issuance of a personal certificate confirming the right to attend the General Meeting. The request for the issuance of a personal certificate confirming the right to attend the General Meeting should be placed to the entity keeping shareholders' securities in the period from the date of this notice of General Meeting convening until the firstworking day after the Registration Day - that is until 24 March 2010.
The list of shareholders entitled to participate in the General Meeting shall be presented on the basis of a list drawn up by the entity keeping securities ( The National Depository for Securities S.Aand presented in the Company's registered office in Radzymińska Street, Ząbki for three working days prior to the General Meeting, from 2 April 2010 to 7 April 2010, from 9.00 to 16.00. The shareholders are entitled to view a list of shareholders in the office of the Management Board and request for a copy of the listwith reimbursement for drawing up it.
In the period of three working days, the Company's shareholder has the right to demand to receive the list of shareholders entitled to participate in the General Meeting free of charge to his email address, by way of giving the address to which the list should be sent. This request should be made in a written form, signed by the shareholder or the person authorized to represent the shareholder and sent to the address wza@jwconstruction.com.pl in PDF format. The request must be accompanied by copies of documents confirming the fact that the person who submits the request is a shareholder of the Company and confirming the identity of the shareholder or the persons representing the shareholder.

(I) If a shareholder is a natural person - the copy of the identity card, passport or other official document attesting the shareholder's identity;

II) If a shareholder is a legal person, a business unit withoutlegal personality (other than a natural person) the copy of the any appropriate document or register that confirms the authority of the individual (or individuals)to represent the shareholder and the copy of the identity card, passportor other official document attesting the identity of persons who are authorized to represent the shareholder.

(III)If the request is submitted by the legal representative there are required additional documents as following: a copy of the document that confirms the granted authority by the shareholder or by the person authorized to represent the shareholder (regarding the shareholder who is not a natural person) or the copy of the identity card, passport or other official document attesting the identity of the legal representative or if the legal representative is not a natural person - the copy of the appropriate document from register or any other document that confirms the authority of the individual (or individuals)to represent the legal representative and the copy of the identity cards, passportsor other official document attesting the identity of the individual (or individuals)who is authorized to represent the legal representative.

2. Description of procedures regarding participation in the General Meeting and exercising voting rights.

i) Shareholder’s right to demand to put particular items on the agenda of the General Meeting.
Acting pursuant to the Article 401.1 of Polish Commercial Companies Code, the shareholder or shareholders, who represent at least one twentieth of the share capital of the Company have the right to put particular items on the agenda of the General Meeting. The demand of a shareholderor shareholders should be reported to the Management Board of the Company not laterthan twenty one days prior to the General Meeting, that is not later than on 18 March 2010, the demand should contain justification or draft resolution regarding the proposed item of the agenda. The demand shall be reported in writingin the seat of the Company or via e-mail to e-mail address wza@jwconstruction.com.pl.

ii) Shareholder’s right to put forward draft resolutions regarding items put on the agenda of the General Meeting.

Acting pursuant to the Article 401.4 of Polish Commercial Companies Code, the shareholder or shareholders, who represent at least one twentieth of the share capital of the Company may report, prior to the General Meeting,draft resolutions regarding items put on the agenda of the General Meeting or items which are to be put on the agenda prior to the General Meeting. The draft resolutions shoul be reported in writing or via e-mail to e-mail address wza@jwconstruction.com.pl.

The demands and applications of the shareholder or shareholders, reffered to i) and ii) above should be accompanied by copies of documents proving the identity of the shareholder or persons acting on his/her behalf, including:

1)a participation certificate in the General Meeting drawn up by an appropriate entity in order to evidence that a shareholder or shareholders possess one twentieth of the share capital of the Company;

2) If a shareholder is a natural person - the copy of the identity card, passport or other official document attesting the shareholder's identity;

3) If a shareholder is a legal person, a business unit withoutlegal personality (other than a natural person) the copy of the any appropriate document or register that confirms the authority of the individual (or individuals)to represent the shareholder and the copy of the identity card, passportor other official document attesting the identity of persons who are authorized to represent the shareholder.

4) If the request is submitted by the legal representative there are required additional documents as following: a copy of the document that confirms the granted authority by the shareholder or by the person authorized to represent the shareholder (regarding the shareholder who is not a natural person) or the copy of the identity card, passport or other official document attesting the identity of the legal representative or if the legal representative is not a natural person - the copy of the appropriate document from register or any other document that confirms the authority of the individual (or individuals)to represent the legal representative and the copy of the identity cards, passportsor other official document attesting the identity of the individual (or individuals)who is authorized to represent the legal representative.

III) Shareholder’s right to put forward draft resolutions regarding items put on the agenda during the General Meeting. Acting pursuant to the Article 401.5 of Polish Companies Code every shareholder has the right to put forward draft resolutions regarding items put on the agenda during the General Meeting.

iv) The participation in the General Meeting and the exercise voting rights.

A shareholder can participate in the General Meeting and exercise voting rights in person or through an attorney. A shareholder who is not a natural person can participate in the General Meeting and exercise voting rights through a person entitled to make declarations of will in his name or through an attorney.

The shareholders are allowed to participate in the General Meeting at sight of the identity document, and the attorneys at sight of the identity document and valid proxy. The attorneys or the representatives of shareholders other than natural persons should additionally provide valid copies from appropriate registers with the list of authorized people to represent these entities.

Acting pursuant to the Article 4121.2 of Polish Companies Code, the power of attorney should be made in writing or in electronic form. The proxy granted in electronic format does not require secure electronic signature that is verified with a valid qualified certificate.
The fact of the proxy granting in an electronic form should be done using the form of authority available onthe Company's website www.jwconstruction.com.pl in a fold: "Investor relations". The notification of granting power of attorney in electronic form should be reported to the Company not later than 1 day prior the General Meeting via e-mail to the address wza@jwconstruction.com.pl by sendingthe document of power of attorney in PDF format to the address above. The document shall be signed by the shareholder, or in case of shareholders other than natural persons, the document shall be signed by persons who are authorized to represent the shareholder. In order to identify the shareholder granting the proxy, the notification of granting power of attorney in the electronic form should include ( as an attachment in PDF format):

(I) If a shareholder is a natural person - the copy of the identity card, passport or other official document attesting the shareholder's identity;

II) If a shareholder is a legal person, a business unit withoutlegal personality (other than a natural person) the copy of the any appropriate document or register that confirms the authority of the individual (or individuals)to represent the shareholder and the copy of the identity card, passportor other official document attesting the identity of persons who are authorized to represent the shareholder and signed the proxy.

In case of any doubt as to the correctness of copies of the documents above, the Management Board reserves the right to require the attorney producing the following documents when the attendance list is drawn up:

I) If a shareholder is a natural person - a copy certified to be true by the notary or other entity authorized to certify the identity document, passport or other official identity document of the shareholder to be a true copy of the original;

II) If a shareholder is a legal person, a business unit withoutlegal personality (other than a natural person) a copy certified to be true by the notary or other entity authorized to certify the copy of the any appropriate document or register that confirms the authority of the individual (or individuals)to represent the shareholder.

In order to identify the attorney, the Management Board of the Company reserves the rightto require the attorney producing the following documents when the attendance list is drawn up:

(I) If an attorney is a natural person - the copy of the identity card, passport or other official document attesting the attorney's identity;

II) If an attorney is a legal person, a business unit withoutlegal personality (other than a natural person) a copy certified to be true by the notary or other entity authorized to certify the copy of the any appropriate document or register that confirms the authority of the individual (or individuals)to represent the attorney on the General Meeting.

The information about proxy granting should include the scope of proxy by indicating the number of shares that allow to exercisevoting rights.
In order to verify the validity of the proxy granted in an electronic way, the Company has the right to take any action relating to the identification of the shareholders and attorney, and especially the Company has the right to send the return question in an electronic form or the right to telephone contact. Failure to answer the asked question during the verification, shall be treated as a lack of opportunities to verifythe granted proxy and shall constitute the basis for the refusal to allow the attorney to participate in the General Meeting.

If an attorney on the General Meeting is a member of the Management Board, a member of the Supervisory Board, Company’s employee or a member of a body of a company’s subsidiary or a company’s subsidiary, a power of attorney can authorize to represent the Company only on a single General Meeting. The attorney is obliged to reveal to a shareholder circumstances indicating potential conflict of interest. Such attorney votes in accordance with instructions given by the shareholder and the substitution is excluded.

All documents in a foreign language should be presented together with a certified translation into Polish.

The forms mentioned in the Article 4023.1.5 of Polish Commercial Companies Code, allowing to exercise voting rights by the attorney are available on the Company's website www.jwconstruction.com.pl in a fold "Investor Relations".

In case of powers of attorney in writing it is not required to use the forms prepared by the Company.

v) The possibility of participating in the General Meeting and voting using means of electronic communication.

The Articles of Association of the Company does not allow to participate in the General Meeting, speak at the General Meeting and to vote using means of electronic communication. The Articles of Associations of the Company and the General Meeting Regulations do not stipulate any possibility to vote on the General Meeting by way of correspondence.

3. Materials regarding the General Meeting.

The authorized person to participate in the General Meeting may obtain the draft resolutions with justification, a full text f the documents, remarks of the Management Board or the Supervisory Board concerning the matters provided on the agenda of the General Meeting and the matters that may be put on the agenda prior to the Extraordinary General Meeting on the website of the Company www.jwconstruction.com.pl in a fold "Investor Relations" or in the seat of the Company, in Radzymińska 326, Ząbki from 9.00 to 16.00.

4. The registry of attendance at the General Meeting

The persons authorized to participate in the General Meeting are asked to registerandto take the voting card directly in front of the conference hall for half an hour before the beginning of the General Meeting.

5. Other information

Information regarding the General Meeting will be available on the Company's website www.jwconstruction.com.pl.

The Management Board informs that all matters that are not covered by this notice, shall be governed by the Polish Commercial Companies Code and the Articles of Association and, therefore, the shareholders of the Company are asked to get familiar with these regulations.

Additionally, to this notice, in the attachment, the Management Board of the Company passes draft resolutions of the Extraordinary General Meeting together with their justifications.

6. Proposed changes to the Articles of Association:

To remove the article 12.3 with its following wording:

The member of the Management Board and the Company's employee must not be the attorneys at the General Meeting.

The article 16.1

Current wording:

"The Supervisory Board consists of 5 /five to 9 /nine/ members, including the President of the Supervisory Board and the Vice-President of the Supervisory Board, appointed for the joint term of office. The number of members of the Supervisory Board is determined by the resolution of the General Meeting. The change of the number of members is possible during the term of office."

Proposed wording :

"The Supervisory Board consists of 5 /five to 9 /nine/ members, including the President of the Supervisory Board and at leastone the Vice-President of the Supervisory Board, appointed for the joint term of office. The number of members of the Supervisory Board is determined by the resolution of the General Meeting. The change of the number of members is possible during the term of office."

Add a new one - the Article 16.11 with the following wording:

One Vice-President of the Supervisory Board is appointed by the General Meeting from among of those independent, within the meaning of this Article, members of the Supervisory Board of the Company. The member of theSupervisory Board who is delegated by the Supervisory Board in accordance with the article 390.1 of Polish Commercial Companies Code to perform independent supervisory activities, is entitled to the position of the Vice-President of the Supervisory Board during the delegation period.