Project update

Update from the originator: The originator would like to inform you that the interest payments for this project will be made on the 25th of this month. This project has been making the interest payments at the beginning of the month and they will continue to do so, just this month will be an exception. Some stages of these projects are extended or slightly delayed, the originator is constantly in communication with Kirsan to find the best solution for investors. New information will follow in the upcoming weeks.

Update from the originator:

The originator would like to inform you about the latest updates regarding the Chiocarliei 2 residential buildings project. Unfortunately, the project will be extended, due to serious health problems of the previous owner, which led to the changes in the project's ownership. 

The new owner is one of Kirsan's subsidiary companies, which will finish its construction. Taking that into account, the project will be prolonged for 6 more months and will not be repaid in January 2022.

Also, it will start generating an additional 1% income for the extension period.