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PURCARI WINERIES PUBLIC COMPANY LIMITED - WINE

Current report - update on COVID19

Release Date: 3/17/2020 4:36:35 PM

IRIS Code: F319E

 

To:      Bucharest Stock Exchange (BVB)

cc:       Cyprus Securities & Exchange Commission (CySEC), Romanian Financial Supervisory Authority (FSA)

 

Announcement & Current report

Report date: 17 March 2020

Company name: Purcari Wineries Public Company Limited   

Headquarters: 1 Lampousas Street, 1095, Nicosia, Cyprus

Phone/fax no.: +373 22 856 035/ +373 22 856 022

Cyprus Trade Register Registration Number: HE201949

Subscribed and paid in share capital: EUR 200,000  

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

Symbol: WINE

Notification on

 Mandatory update following CySEC Circular no. C360 dated 06 March 2020 and FSA communique dated 12 March 2020

 

In compliance with the requirements of CySEC and FSA on monitoring and assessing the financial impact, as well as any risks and uncertainties that the COVID-19 outbreak may have on all Issuers, Purcari Wineries Public Company Limited (the “Company”) is issuing the following update of to the statement issued on 13.03.2020.

 

The number of COVID-19 cases in Company’s production operation countries: Moldova and Romania increased as of 17.03.2020 to 30 and 184 cases correspondingly.

 

The Moldovan Government announced the Red Code of alert at national level regarding the risk of infection with COVID-19. Thus, among the actions taken:

 

·         Schools, universities and kindergartens remain closed.

·         Two border crossing points have stopped their activity.

·         Local grocery markets are being closed, as well as pubs and restaurants; The restriction does not apply to grocery stores, pharmacies and gas stations.

·         Flights connecting Moldova to Europe have been ceased, road and rail transport has been limited. The restriction does not apply to transport of goods.

 

Romania’s president Klaus Iohannis decreed state of emergency for 30 days starting from today, which includes among others:

 

·         Schools, universities and kindergartens remain closed.

·         Several border crossings points have stopped their activity.

·         Restriction on travel could be gradually applied upon requirement.

·         Gradually closing of restaurants, clubs, casinos and other public places.

·         Prices for basic products, medicines, utilities can be capped to the average price of the last three months before declaring the state of emergency.

 

On Company side we have undertaken the following actions:

 

·         The Company’s office in Chisinau and Bucharest are closed and most of the employees are working remotely.

·         The Company’s sale team are working in the field to ensure that our products are available on the shelves. Increased safety measures are being taken: hand sanitizers, protection equipment, using Company’s transport only, online meetings.

·         All the Company’s production facilities in Moldova and Romania are running in full capacity.

·         All necessary precautions have been undertaken to minimize any adverse impact on the health and wellbeing of Company’s employees, as well as the sustainability of Company’s operations.

 

While the Company didn’t register any material disruption to Company’s operational activity, we will continue to assess the financial impact, as well as any risks and uncertainties that the COVID-19 outbreak may have on Company’s operations and make any adjustments to the Company’s guidance for 2020 depending on the evolution of the situation.

 

 

Sincerily,

 

 

 

 

____________

Victor Arapan

CFO

 

 



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