CPI PROPERTY : statement in relation to the alleged action filed by Kingstown and other parties
April 10, 2019 at 12:25 pm EDT
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DGAP-News: CPI PROPERTY GROUP / Key word(s): Miscellaneous
CPI PROPERTY GROUP - statement in relation to the alleged action filed by Kingstown and other parties
10.04.2019 / 18:23
The issuer is solely responsible for the content of this announcement.
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.
For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com
For further information please contact:
INVESTORS
CPI PROPERTY GROUP
David Greenbaum
Chief Financial Officer d.greenbaum@cpipg.com
MEDIA/PR
Kirchhoff Consult AG
Andreas Friedemann
Borselstraße 20
22765 Hamburg
T +49 40 60 91 86 50
F +49 40 60 91 86 60
E andreas.friedemann@kirchhoff.de
10.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
CPI PROPERTY GROUP
40, rue de la Vallée
L-2661 Luxembourg
Luxemburg
Phone:
+352 264 767 1
Fax:
+352 264 767 67
E-mail:
contact@cpipg.com
Internet:
www.cpipg.com
ISIN:
LU0251710041
WKN:
A0JL4D
Listed:
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
CPI Property Group SA, formerly GSG Group SA, is a Luxembourg-based company active in real estate sector with operations in Germany, the Czech Republic, Hungary, Poland, Russia, Croatia, Switzerland and Slovakia. The Company is principally engaged in leasing out investment properties and developing properties for its own portfolio. It has two segments: Property Investments, its core segment, and Development. The core segment comprises investment in commercial properties through acquisition, rental of properties and property portfolios, especially in long-term ownership of the properties. The Development segment focuses on commercial projects and the conversion of some Kreuzberg commercial assets into residential units to be sold; this includes property acquisition, planning and obtaining building rights, project implementation and sale/rental of the realized projects to investors and tenants. The Company operates Remontees Mecaniques Crans Montana Aminona SA as a subsidiary.
CPI PROPERTY GROUP 
