Constantinou Bros Hotels Public Company LTD

M&A Activity • Feb 15, 2022

15th February 2022

Mr. Nikos Tripatsas Acting General Manager Cyprus Stock Exchange Nicosia

Dear Mr. Tripatsa,

ANNOUNCEMENT

TOPIC: TAKEOVER BID TO THE SHAREHOLDERS OF CONSTANTINQU BROS HOTELS PUBLIC COMPANY LTD.

Further to the announcement of dated 17th January 2022 regarding the takeover bid by Mr Andreas Constantinou (the "Offeree") for the acquisition of up to 100% of the issued share capital of CONSTANTINOU BROS HOTELS PUBLIC COMPANY LTD (the "Offeree Company") (the "Takeover Bid"), the Offeror announces that the Cyprus Securities and Exchange Commission (the "CySEC"), following its meeting on the 14th of February 2022, exercising its power under article 19(3) of the Takeover Bid Law 2007, N.41(1)/2007, as amended (the "Law") decided to reject the Takeover Bid Document.

CySEC came to the above decision as it considered that the Public Offer Document does not meet the general principles of the public offer and specifically the general principle provided in article 5(e) of the Law.

Kind regards,

Andreas Constantinou The Offeror

Cyprus Securities and Exchange Commission Cc: