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-Unofficial Translation- In line with the growth, globalization and innovation strategies, Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. ("GEN") signed an cooperation agreement with Azerbaijan Investment Company ("AIC") which all of its shares owned by the Republic of Azerbaijan regarding Azerbaijan Production Facility Project ("Project"). According to the agreement signed between GEN and AIC on May 3, 2023 in Baku: new company will be established by GEN and AIC which GEN has 71% of its shares and AIC has 29% of its shares and this company will establish a production facility in one of the organized industrial zones in Azerbaijan which will be determined by the Republic of Azerbaijan and this company will own and operate the this facility. Primary aim of the project is the prouction of the needed drugs in Azerbaijan. In addition to this aim, it is also planned that export of the drugs produced in this facility to the countries in the region from Azerbaijan. Approximately 30 million USD investment is projected and it will be made by GEN and AIC. It is planned that the period from the beginning of the project to the start of drug production will be approximately 3 (three) years. New developments regarding the project and the process will be shared with the public in accordance with the regulations the CMB of Türkiye II-15.1 Material Events Disclosure Comminuque. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.