Regulatory Filings • Mar 23, 2022
Regulatory Filings
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23 March 2022
Restrictive measures of the Council of the European Union and other sanctions against Russia in response to the crisis in Ukraine / War in Ukraine – Economic consequences / risks and uncertainties
CH CHARILAOU GROUP PLC expects to be indirectly affected by the Russian-Ukrainian crisis.
It is noted that the company has no transactions with Russian companies and therefore the Group's trading activities are not expected to be directly affected as a result of the restrictive measures of the Council of the EU and other sanctions against Russia.
It is, however, pointed out that the Group's trading activities are directly linked to the tourist industry, which is expected to be impacted, as the prohibition of flights to and from Russia is expected to result in a decline in tourist arrivals.
Due to the uncertainty concerning the evolution and the duration of the war, the Company's management is not, at this stage, in a position to assess the extent of the indirect financial consequences.
Kleanthis Dimosthenous Member of the Board of Directors of Ch. Charilaou Group Plc
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