Ceiba Investments Limited Trading Statement (1804P)

TIDMCBA

RNS Number : 1804P

Ceiba Investments Limited

08 June 2020

8 June 2020

CEIBA INVESTMENTS LIMITED

(the "Company")

(TICKER CBA, ISIN: GG00BFMDJH11)

Legal Entity Identifier: 213800XGY151JV5B1E88

TRADING UPDATE

CEIBA Investments Limited ("CEIBA" or the "Company"), the largest listed foreign company solely dedicated to investing in Cuba, with interests in the commercial and tourism real estate sectors of Cuba, is pleased to provide an update on trading, operations and investments.

Cuba and COVID-19

As at 5 June 2020, Cuba reported 2,133 confirmed covid-19 cases and 83 deaths resulting from the corona virus. With no deaths reported in the last week and 11 of its provinces reporting the absence of new cases during the last 15 days, it is anticipated that Cuba is close to announcing a staged reopening of its tourism industry and national borders.

Since the outbreak of the covid-19 pandemic, Cuba has sent more than 2,500 doctors and nurses to 26 countries, including to Italy, Mexico and South Africa.

Current Trading, Operations and Investments

With respect to its trading, investments and operations, the Company can report as follows:

-- during the first five months of 2020, the operational results of the Miramar Trade Centre surpassed the results during the same period in 2019;

-- the Meliã Habana hotel has remained operational with a limited number of rooms (for essential workers and other authorized travelers) and one restaurant providing take-away meals;

-- the Sol Palmeras hotel, located in Varadero, Cuba's prime resort destination, which closed at the end of March 2020, will likely be amongst the first hotels in Varadero to reopen in Q3 2020;

-- as at 5 June 2020, an aggregate amount in excess of US$40 million has been invested in the Cuban hotel joint venture TosCuba S.A. and the construction of its 400 room luxury beachfront "Meliã Trinidad Península" hotel is now more than halfway completed and expected to open by the end of Q3 2021;

-- the Company is proud to announce that the prestigious 2020 Cuban National Environmental Quality Award was presented to the hotel Meliã Las Americas by the Ministry of Science, Technology and Environment of the Republic of Cuba on the occasion of World Environment Day. The award confirms the profound commitment of each of the Company, the Manager and Meliã Hotels International S.A. to make sustainability an intrinsic part of its business;

-- in 2019, Melia Hotels International achieved the highest possible score for companies active in the global travel & tourism industry in its review by SAM Corporate Sustainability Assessment.

About World Environment Day

World Environment Day is celebrated on 5 June every year, and is the United Nations ' principal vehicle for encouraging awareness and action for the protection of our environment . The idea to celebrate World Environment Day was established in 1972 by the United Nations on the first day of the Stockholm Conference on the Human Environment , resulting from discussions on the integration of human interactions and the environment. The first World Environment Day was held in 1974. Since then, the annual event has been a flagship campaign for raising awareness from environmental issues to marine pollution , human overpopulation, and global warming , to sustainable consumption and wildlife crime.

END OF ANNOUNCEMENT

For further information, please contact:

 
 Aberdeen Standard Fund Managers Limited           Tel: [phone] 
  Sebastiaan Berger / Evan Bruce-Gardyne            6000 
 N+1 Singer                                        Tel: [phone] 
  James Maxwell / James Moat (Corporate Finance)    3000 
  James Waterlow (Sales) 
 JTC Fund Solutions (Guernsey) Limited             Tel: [phone] 
 

www.ceibainvestments.co.uk

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June 08, 2020 02:00 ET (06:00 GMT)