CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

PRESS RELEASE
Luxembourg, 10 April 2019


CPI PROPERTY GROUP - statement in relation to the alleged action filed by Kingstown and other parties

 

CPI PROPERTY GROUP ("CPIPG") issues the following statement in relation to a lawsuit filed today by, inter alia, Kingstown companies and Investhold against, inter alia, CPI Property Group and Mr. Radovan Vitek in the United States. CPIPG has not been served with the complaint and, in any event, categorically denies the allegations therein. Moreover, CPIPG does not believe there is jurisdiction over the lawsuit in the United States.

As previously disclosed, CPIPG and related entities are currently engaged in litigation initiated by Kingstown in Luxembourg. The filing of the complaint in the United States is merely another attempt by Kingstown to seek inappropriate remedies and to exert unlawful pressure on CPIPG. This new lawsuit is meant to harm CPIPG, and as such, CPIPG will take all appropriate action to defend itself and its shareholders. Additionally, CPIPG will take all appropriate steps to seek relief against Kingstown. It is worth noting that Kingstown was not, at the relevant time, a shareholder of CPIPG, and thus the allegations set forth in the U.S. lawsuit are false, misleading and without merit.


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CPI PROPERTY GROUP
David Greenbaum
Chief Financial Officer

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