Ucom Founders Haik and Alexander Esayan Issue Statement

The founders of Ucom, Haik and Alexander Esayan, have issued a statement regarding their departure from the company.

The announcement is presented below:

"Haik Esayan confirms yesterday's circulated news indicating that he has submitted a request to terminate his employment duties, after which hundreds of employees began writing their resignation letters. Currently, 576 people have effectively submitted applications, including almost the entire management staff, middle management, and the entire technical team. Despite this, the employees who have already submitted their resignation requests continue to ensure uninterrupted service availability, especially considering the state of emergency in the country and the importance of communication in our days. The created situation has arisen due to conflicts between shareholders.

The brothers, who are the founders of the company and hold 5.94% of the shares, have proposed to the other shareholders to acquire the remaining shares. A bid has been made to pay 22 billion 100 million drams for 94.06% of the shares. Haik Esayan stated that their goal is to give the company's employees the opportunity to acquire 20% of the repurchased shares on preferential terms and become co-owners of the company."