REG - Ceiba Investments Ld - Trading Update - Payment to Bondholders

Ceiba InvestmentsAnnouncement

08/07/2025 07:00

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RNS Number : 0476Q  Ceiba Investments Limited  08 July 2025

CEIBA INVESTMENTS LIMITED

(the "Company")

 

(TICKER: CBA, ISIN: GG00BFMDJH11)

Legal Entity Identifier: 213800XGY151JV5B1E88

 

TRADING UPDATE

PAYMENT TO BONDHOLDERS

 

The Board of Directors of the Company is pleased to announce that,
notwithstanding the strong headwinds that Cuba, and the Company, are facing,
during the first 6 months of 2025, HOMASI S.A., a subsidiary in which the
Company has a 65% interest and holds the interests in the Melia Habana, Melia
Las Americas, Melia Varadero, Sol Palmeras and Melia Trinidad Península
hotels received a total of US$5,108,880 in dividends and US$201,834 in
payments under its participation in the TosCuba credit facility. CEIBA MTC
Properties Inc., a wholly-owned subsidiary of the Company that holds the
Company's interests in the Miramar Trade Center, received a total of
US$1,715,000 in dividends. In addition, the Company received US$1,079,450 in
payments under its direct participation in the TosCuba credit facility.

 

As a result, on 30 June 2025, the Company paid US$682,125 in deferred
management fees to its former asset manager Aberdeen Asset Management Limited
("Aberdeen") and made payments of principal and interest totaling €5,500,000
to holders of the €25 million Convertible Bonds 2029 issued by the
Company.  In accordance with the (amended) Bond Instrument executed in
January 2025, the next payment of principal under the Convertible Bonds (€5
million) is scheduled to be made on or before 31 March 2026.

 

About the Company:

 

CEIBA Investments Limited is a listed closed-end fund dedicated to investing
in Cuba, with interests in the commercial and tourism real estate sectors. Its
interests include holdings in 2,235 hotel rooms of the Melia Habana (Havana),
Melia Las Americas, Melia Varadero, Sol Palmeras (Varadero) and Melia Trinidad
Península (Trinidad) hotels, and the 56,000m(2) Miramar Trade Center office
and retail complex in Havana. As at 31 March 2025, the unaudited net asset
value of the Company was USD130,568,602 (31 December 2024: USD 129,968,866),
which amount took into consideration deferred management fees payable to
Aberdeen in the total amount of US$3,129,937 and the indebtedness to
Bondholders of €25 million.

 

For further information, please contact:

 

 Sebastiaan Berger                                    Via NSM Funds Limited

 Singer Capital Markets                               Tel: +44 (0)20 7496 3000

 James Maxwell / Patrick Weaver (Corporate Finance)

 James Waterlow (Sales)

 NSM Funds Limited                                    Tel: +44 (0)1481 743030

 

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