INDEBAY 4TH OFICIAL REALEASE REGARDING THE WORLD CRISIS BY (COVID-19) AND THE REAL ESTATE PROMOTION OF HACIENDA SAMANA BAY (05/20/20)

Dear customer, we are happy to inform that the Dominican Government has approved, starting, May 20th, 2020, the partial opening of productive activities in the country, an opening that consists of four phases and distinguishes between the different productive sectors and the size of the companies by number of employees.

In relation to the construction sector, and specifically to the guidelines that concern our company, we accompany the calendar and the measures corresponding to each one of the approved phases.

Phase 1. May 20th, authorization the start of construction work with a number of employee’s equivalent to no more than 25% of workers.

Phase 2. June 3, date on which we can incorporate up to 50% of the number of employees to construction work.

Phase 3. June 17, up to 75% of the workforce may join the activity.

Phase 4. July 1st, where it will be possible to operate with 100% of the workforce.

INDEBAY SRL following the criterion of obedience and respect to the guidelines approved by the Dominican Government and showing the commitment acquired with our clients and investors, On May 20th we have partially restarted the construction work of the HACIENDA SAMANA BAY project.

Although the situation of absolute paralysis of the activity ends, we continue to suffer an unexpected phenomenon that fits into the legal concepts of force majeure contained in the contracts, so the agreed delivery terms are understood to be extended for a period equal to the total period of stoppage plus the proportional part of the days when construction cannot be completely resumed.

However, INDEBAY SRL will do everything in its power to speed up the execution of construction works as much as possible to reduce the forced delay that has occurred with respect to the initially scheduled delivery times.

We remain at your disposal to answer any questions you consider necessary.

INDEBAY, S.R.L.
Management