Global Ports Holding Plc: Comment regarding recent press speculation in relation to sanctions

Global Ports Holding Plc

Comment regarding recent press speculation in relation to sanctions

Global Ports Holding Plc ("GPH" or "Group") notes recent press speculation regarding the berthing at Bodrum Yolcu Liman letmeleri A.. (Bodrum Cruise Port), Turkey, of a superyacht, allegedly owned by a designated person subject to sanctions imposed by the UK government.

As a private terminal operator in Turkey, GPH merely operates Bodrum Cruise Port as the concessionaire and is not involved in granting permission for a ship or a yacht to dock at the port. This responsibility and decision sit with the Turkish Authorities, and as concessionaire, GPH must comply with such a decision as long as the decision is legal under the applicable laws. However, and notwithstanding the difficulties of any party to correctly identify the actual ownership of such assets, GPH has not and will not receive any service fee or other payments concerning the berthing of this superyacht at Bodrum Cruise Port.

GPH has always strictly adhered to and will continue to adhere to its internal policies, international sanctions rules and the requirements of the applicable laws, as well as to the legal conditions and responsibilities of its concession agreement in Bodrum. The berthing of this superyacht at Bodrum Cruise Port did not result in the violation by GPH of the (Sanctions) (EU Exit) Regulations 2019 (as amended from time to time) due to the fact that the alleged offence has taken place at a port outside of the United Kingdom where GPH does not have any ownership or any power to accept or reject any ship or yacht pursuant to the applicable laws.

All of us at GPH remain deeply saddened at the tragic events that continue to unfold in Ukraine and we continue to pray for an immediate end to the war. Like so many people, our thoughts are with the people of Ukraine who have been and continue to be so profoundly affected by this tragedy.