Lubawa Armenia S.A. – fruitful meeting with MORA representatives

The Extraordinary General Meeting of Shareholders of Lubawa Armenia S.A. proceeded fruitfully for the Armenian company - Lubawa Armenia.

During the summit with MORA representatives the possibilities of the company`s development as well as market expansion for the products by Lubawa Armenia S.A. were discussed. MORA declared its purchases for 2015, and the first contract for the camouflage nets will be signed as early as in January next year.

On 12.12.2014 was held a meeting of Marcin Kubica, President of the Management Board of Lubawa S.A. with the Defence Minister of the Republic of Armenia Seyran Ohanyan and with the participation of Vice Minister Alik Mirzabekyan, Director of the Defence Industry Department at MORA Murad Isakhanyan, and Director of Lubawa Armenia, Jarosław Ruch. During the meeting were discussed the possibilities of support from the Government of the Republic of Poland for Polish investments in Armenia, the development strategy of Lubawa Armenia S.A. as well as the agenda for the Extraordinary General Meeting of Shareholders of Lubawa Armenia S.A.

Then there was a meeting with the Vice Minister, Dawid Tonoyan, during which the possibilities of support from MORA for the efforts to win the export markets for Lubawa Armenia S.A. were discussed. In the course of the subsequent meetings with Vice Minister, Alik Mirazbekyan, and Murad Iskahanyan the development strategy of Lubawa Armenia S.A. was agreed, as well as the potential clients in Armenia and abroad were pointed out, also the efforts leading to winning them were discussed.. MORA declares purchase in 2015 of, among others, several types of tents, multispectral camouflage nets, individual camouflage, bulletproof vests and helmets. In connection with balancing MORA`s next year`s budget, the intensive works have been carried out to introduce further products by Lubawa Armenia S.A. Individual contracts will be signed throughout the whole year, and the first one, on multispectral camouflage nets for about EUR 200,000, will be signed at the end of January 2015.

MORA has already helped to organize two meetings at the Ministry of Territorial Administration and Emergency Situations of the Republic of Armenia, which is interested in purchasing rescue equipment, including several types of tents, decontamination cabins, inflatable boats, water tanks and protective suits, vests, rucksacks and other individual equipment for rescuers. Reaching appropriate structures at the Ministry of Healthcare and the Police was agreed. The export markets which Lubawa Armenia will attempt to win on the first place will be Georgia, Kazakhstan, Turkmenistan, Kyrgyzstan and Uzbekistan. In order to support these actions, MORA will organize on 19.12.2014 an inspection of the plant in Charentsavan by accredited military attachés from different countries.

The parties have unanimously confirmed the possibility of smoothly increasing the production capabilities of Lubawa Armenia S.A. in case it wins major contracts. Strategic goals to be achieved in the first quarter of 2015 have been set out for the Management Board and its both shareholders. It has been agreed, that at the end of each quarter meetings will be held to discuss the accomplishment of the established tasks and the new ones will be set.

During the Extraordinary General Meeting of Shareholders of Lubawa Armenia S.A. a report from the Management Board on the investments made and the Company’s financial situation was accepted. Next, the additional shareholders contributions to the Share Capital, under the Investment Agreement have been accepted and agreed to amount AMD 830 million; at the same time the shareholders structure will remain unchanged – 51% of shares Lubawa S.A. and 49% MORA. Increase of the Company`s Share Capital was carried out through increasing the value of shares, which currently amounts to AMD 8.3 million per share.

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