We hereby inform you that on November 27, 2019 the General Meeting of the “Ucom” Limited Liability Company participants has made a decision to reorganize the Company into “Ucom” Closed Joint-Stock Company. The need to have the aforementioned decision made was due to the expediency of implementing an internationally accepted corporate governance system and ensuring the application of the relevant principles. The introduction of a new corporate governance system in the company will allow for more effective company management, which in turn will undoubtedly affect the economic performance of the company.

According to the current legislation and the Transfer Act, “Ucom” Closed Joint-Stock Company shall be the successor of “Ucom” Limited Liability Company, to which the Company’s property, other property rights and obligations will be transferred.