Announcement

With the following we would like to inform you that:

Regarding the official statement made by Mr. Atanas Bobokov in order to preserve the stability of MONBAT AD and the investor confidence regarding his resignation from his position of Executive Director of Monbat AD, an extraordinary meeting of the Board of Directors was held on June 3, 2020 where the following decisions were made:

1. The Board of Directors released Mr. Atanas Bobokov from his position of an Executive Director of Monbat AD.

2. The Board of Directors appointed a second procurator of the Company – Mr. Dimitar Kostadinov – independent person to the Company.

3. The Board of Directors convenes an extraordinary General Assembly of the Company’s shareholders on 22.07.2020 regarding a change due to be made in the Board of Directors, namely the election of Mr. Dimitar Kostadinov as a new member of the Board of Directors.

4. The Board of Directors herewith appointed the international law firm – Wolf Theiss, to conduct an independent audit into the matters related to the ecological aspects of the Company’s activity and compliance with the respective Bulgarian and European legislations.

The Management of the Company herein informs the investors and all stakeholders that the Monbat Group is fully operational in all its plants and facilities both domestically and abroad and that the order book has fully recovered pre Covid-19 crisis levels.

For more information you can contact:
For Monbat AD
Daniela Peeva, IR Director
Tel. +3592/9882413
E-mail: investorrelations@monbat.com