Announcement • 20hCeiba Investments Limited Announces Resignation of Andrew Pegge as Non-Executive Director, Effective July 27, 2026Ceiba Investments Limited announced that Andrew Pegge has resigned as a Non-Executive Director of the Company with immediate effect.
Announcement • Jul 23Ceiba Investments Limited Announces Appointment of Enrique Martinon Garcia as Non-Executive Director and Management Engagement Committee Member, Effective July 23, 2026CEIBA Investments Limited announced the appointment of Enrique Martinon Garcia as a non-executive director of the Company with immediate effect (23 July 2026). Enrique Martinon Garcia is the Chief Executive Officer of Grupo Martinon, a family-owned hospitality and real estate investment, development and asset management group founded in the Canary Islands. Under his leadership, the Group has expanded its operations across Spain, the Dominican Republic, Mexico, Aruba and Cabo Verde. He also heads GRUMASA, the Group's Caribbean investment vehicle. He has over 30 years' experience in the international hospitality sector, specialising in the development, financing, operation and asset management of hotel and resort assets across Spain, the Caribbean and Latin America. During his career, he has led the acquisition, development, financing and repositioning of large-scale hospitality assets and has extensive experience working with international hotel operators. Enrique Martinon Garcia was also appointed as a member of the Company's Management Engagement Committee.
Announcement • Jul 22Melia Hotels International S.A. Discontinues Operations of Five Hotels in CubaCeiba Investments Limited announced that on July 21, 2026, Melia Hotels International S.A. had taken the decision to terminate all of its hotel management and commercialization services in Cuba, and to disallow the use of the Melia brands and access to its services in Cuba, effective from July 24, 2026. This decision included, and had an immediate impact on, the 5 hotels in which Ceiba Investments Limited had an interest. Ceiba Investments Limited invested in Cuba's tourism sector and participated in Miramar S.A. and TosCuba S.A., two Cuban joint venture companies that owned 5 hotels in Cuba that were all operated by Melia. On May 1, 2026, the U.S. President issued Executive Order 14404 expanding U.S. sanctions against Cuba, in this instance targeting the activities of foreign entities that invest in or otherwise materially support the government of Cuba. Under the authority of Executive Order 14404 additional sanctions were, amongst others, imposed on Grupo de Administración Empresarial S.A. (GAESA), and as a direct result of GAESA (and its tourism branch, Grupo de Turismo Gaviota) being targeted by U.S. sanctions, Melia decided on May 26, 2026 to terminate management operations for 15 of its 34 hotels in Cuba with the decision officially announced and implemented in early June 2026. The Company was presently analysing Melia's unilateral decision and what actions and steps needed to be taken to properly unwind Melia's management and commercialization of the hotels, whose names would in the meantime be renamed "Hotel Habana", "Hotel Las Americas", "Hotel Varadero", "Hotel Palmeras" and "Hotel Trinidad Peninsula". The results of this analysis might include the suspension of operations of the hotels to focus instead on carrying out capital expenditure projects and other investments, the improvement of corporate and operational structures, and a strategic search for an operator to manage the hotel properties in which the Company was invested. Given the fact that the occupancy levels of the hotels had already deteriorated severely in recent past months as a result of diminished airlift to Cuba and other factors, it was expected that the additional negative impact on projected income and results for the current year for Ceiba Investments Limited would be minimal. Management and the Board of Directors of the Company were closely monitoring events and consulting with advisors and other stakeholders to assess the potential implications of these events and actions and would provide further updates if and when required.
