Purcari Wineries : Acquisition of major holdings in the Issuer - crossing the 5% threshold

Purcari Wineries Public Company Limited

Str. Lampousas nr. 1, 1095, Nicosia, Cyprus

Tel: [phone], Fax: [phone]

HE201949

Share capital: EUR 401,175

www.purcari.wine

To: Bucharest Stock Exchange (BVB)

1. Cyprus Securities & Exchange Commission (CySEC), Romanian Financial Supervisory Authority (FSA)

Announcement & Current Report

Report Date: 07 February 2023

Company Name: Purcari Wineries Public Company Limited

Headquarters: Str. Lampousas nr. 1, 1095, Nicosia, Cyprus

Phone/fax no.: [phone]/ [phone]

Cyprus Trade Register Registration Number: HE201949

Subscribed and paid in share capital: EUR 401,175

Regulated market where the issued securities are traded: Bucharest Stock Exchange, International shares category

Symbol: WINE

Notification of Major Holdings

Purcari Wineries Public Company Limited (hereinafter referred to as the "Issuer") was notified on 06.02.2023 by Firebird (Firebird Avrora Advisors, LLC and Firebird Management, LLC on behalf of Leo Overseas Ltd. and Clairmont Holdings Ltd.) regarding the increase of its stake, crossing the 5% threshold.

Therefore, as of 03.02.2023, Firebird has increased its stake to 2,007,829 shares, which represent 5.005% in share capital.

The Notification is hereby attached.

___________________

Victor Arapan

CFO

DocuSign Envelope ID: 142AC0AA-1E3D-4FC9-BCED-9A44548D0600
Par. 4 Directive DI190-2007-01 of 2017 (R.A.D. 222/2017)	FORM 190-01-01

NOTIFICATION FORM

FOR MAJOR HOLDING

(Sections 28, 30, 31 και 31A of the Law)

NOTIFICATION OF MAJOR HOLDING

(to be sent to the relevant issuer andto the Cyprus Securities and Exchange Commission)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Purcari Wineries Public Company Limited (ISIN: CY0107600716)

2. Reason for the notification (please tick the appropriate box or boxes):

[ X ] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv:

Full name: Harvey Sawikin and Ian Hague as principals of Firebird Avrora Advisors, LLC and Firebird

Management, LLC on behalf of Leo Overseas Ltd and Clairmont Holdings Ltd.

…………………………………………………………………………

City and
country of registered office
(if applicable)	…………………………………………………………………………

1. Full name of shareholder(s) (if different from the person in point 3)v: Leo Overseas, Ltd
   Clairmont Holdings, Ltd
2. Date on which the threshold was crossed or reachedvi:

February 3, 2023

1. Threshold which was crossed or reached: 5%
2. Total positions of person(s) subject to the notification obligation:

		% of voting rights
	% of voting rights	through financial	Total %	Total number of
	attached to shares	instruments	(8.A+8.B.1	voting rights of
	(total of 8.A)	(total of 8.B.1 +	+8.Β.2)	issuervii
		8.B.2)

Resulting situation on the date on which threshold was crossed or reached

5,0049%

5,0049%

40,117,500

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DocuSign Envelope ID: 142AC0AA-1E3D-4FC9-BCED-9A44548D0600
Par. 4 Directive DI190-2007-01 of 2017 (R.A.D. 222/2017)	FORM 190-01-01

Position of previous notification

(if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type of shares

(provide ISIN code if possible)

CY0107600716

CY0107600716

Number of voting rightsix

Direct	Indirect
(section 28	(section 30
of the Law)	of the Law)
1 325 929
681 900

% of voting rights

Direct	Indirect
(section 28	(section 30
of the Law)	of the Law)

3,3051%

1,6998%

SUBTOTAL A:	2 007 829		5,0049%
(Direct and Indirect)

B.1: Financial Instruments according to section 31(1)(a) of the Law

Type of financial

instrument

Expiration

datex

Exercise/

Conversion

Periodxi

SUBTOTAL B.1

Number of voting rights that may be acquired if the instrument is exercised/ converted

% of voting rights

B.2: Financial Instruments with similar economic effect according to section 31(1)(b) of the Law

Type of financial

instrument

Expiration

datexii

Exercise/

Conversion

Periodxiii

Physical or cash

settlementxiv

Number of

voting rights

• of voting rights

2

DocuSign Envelope ID: 142AC0AA-1E3D-4FC9-BCED-9A44548D0600
Par. 4 Directive DI190-2007-01 of 2017 (R.A.D. 222/2017)		FORM 190-01-01
					SUBTOTAL B.2

9. Information in relation to the person subject to the notification obligation (please tick the applicable box):

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the issuer or the underlying issuerxv.

[ ] Fullchain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxvi:

1. Leo Overseas, Ltd., which holds the voting rights associated with 681,900 ordinary shares of the issuer, representing 1,6998% of the total voting rights of the issuer; and
2. Clairmont Holdings, Ltd., which holds the voting rights associated with 1,325,929 ordinary shares of the issuer, representing 3,3051% of the total voting rights of the issuer.

Leo Overseas, Ltd is a wholly owned subsidiary of Firebird Avrora Fund, Ltd. Firebird Avrora Advisors, LLC serves as the investment manager of Firebird Avrora Fund, Ltd. and is controlled by Harvey Sawikin and Ian Hague, who control the exercise of these voting rights.

Clairmont Holdings, Ltd is a wholly owned subsidiary of Firebird Republics Fund, Ltd. Firebird Management, LLC serves as the investment manager Firebird Republics Fund, Ltd. and is controlled by Harvey Sawikin and Ian Hague, who control the exercise of these voting rights.

Namexvii	% of voting rights if	% of voting rights	Total of both if it
	it equals or is	through financial	equals or is higher
	higher than the	instruments if it	than the notifiable
	notifiable	equals or is higher	threshold
	threshold	than the notifiable
		threshold
Leo Overseas, Ltd	1,6998%	…………………………	1,6998%
Clairmont Holdings, Ltd	3,3051%	…………………………	3,3051%
…………………………….	…………………….	…………………………	…………………………
…………………………….	…………………….	…………………………	…………………………
10. In case of proxy voting:
I

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DocuSign Envelope ID: 142AC0AA-1E3D-4FC9-BCED-9A44548D0600
Par. 4 Directive DI190-2007-01 of 2017 (R.A.D. 222/2017)	FORM 190-01-01
	.........................................................................................................................................................................
	[name of the proxy holder] will cease to hold ………………………………………………………………………….[number and
	percentage(%)] voting rights as of ……………………………………………. [date].

11. Additional informationxviii:

I declare that, to my knowledge, all of the above information is accurate and true.

(Name):	Harvey Sawikin
(Signature):	…………………………………………
(Place, Date)	NY, NY 2/7/2023

NOTES:

1. This form is to be sent to the issuer or underlying issuer and to be filed with the Cyprus Securities and Exchange Commission. Filing the form with the Cyprus Securities and Exchange Commission can be effected via post or delivery at 19 Diagorou Street, 1097 Nicosiaor via fax at ([phone]or via e mail in pdf format at [e-mail](please choose only one filing method). In any case the form should be signed.
2. Full name of the natural person or legal entity and further specification of the issuer or of the underlying issuer, provided it is reliable and accurate (e.g address, domestic number identity etc).
3. Other reason for the notification could be voluntary notifications, changes of attribution of the nature of the holding (e.g. expiring of financial instruments) or acting in concert.

ivState the full name of (i) the shareholder∙ (ii) the natural person or legal entity acquiring, disposing of or exercising voting rights in the cases foreseen in section 30(1)(bb) to (hh) of the Law ∙ (iii) the holder of financial instruments referred to in section 31(1) the Law.

The present form does not provide for a specific method how to notify cases of acting in concert referred to in section 30(1)(aa) of the Law, as the disclosure of cases of acting in concert may vary due to the specific circumstances (e.g. same or different total positions of the parties, entering or exiting of acting in concert by a single party to the agreement).

In relation to the transactions referred to in section 30(1)(bb)-(hh) of the Law, the following list is provided as indication of the persons who should be mentioned:

• in the circumstances foreseen in section 30(1)(bb) of the Law, the natural person or legal entity that acquires the voting rights and is entitled to exercise them under the agreement, and the natural person or legal entity who is transferring temporarily for consideration the voting rights∙
• in the circumstances foreseen in section 30(1)(cc) of the Law, the natural person or legal entity holding the collateral, provided the person or entity controls the voting rights and declares its intention of exercising them, and the natural person or legal entity lodging the collateral under these conditions∙
• in the circumstances foreseen in section 30(1)(dd) of the Law, the natural person or legal entity who has a life interest in shares if that person or entity is entitled to exercise the voting rights attached to the shares, and the natural person or legal entity who is disposing of the voting rights when the life interest is created∙
• in the circumstances foreseen in section 30(1)(ee) of the Law, the controlling natural person or legal entity and, provided it has a notification duty at an individual level under section 28 and section 30(1), subparagraphs (aa) to (dd), of the Law or under a combination of any of those situations, the controlled undertaking∙

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