Current report 36/2010
Acting pursuant to section 5.1 point 5 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) ("the Ordinance") J.W. Construction Holding S.A. with its seat in Ząbki ("the Company") reports that on 5 July 2010received a notice from District Court for Warsaw Mokotow, 7thLand and Mortgage Division ('the Court") informing that on 18 June 2010the District Court for Warsaw Mokotów, entered in section 4 of the Land and Mortgage Register, maintained by the said Court for the land property designated as a cadastral parcel No. 16/1, with the total surface area of 15,763 sq m, located in Warsaw at ul. Antoniewska 10 (henceforth the Property), for which a property, the Court maintainsthe Land and Mortgage Registe No. KW WA2M/00295028/7 of bail mortgage to the highest amount of PLN 8,000,000 for the benefit ofPowszechna Kasa Oszczędności Bank Polski Spółka Akcyjna Oddział 15 in Warsaw (Regional Branch in Warsaw) (henceforth the"Bank").
The value of the Property is entered in the Company’s accounting books at its 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 mortgages subject to disclosure was their value. The amount of each increased mortgage exceeded 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 had been met.