Information concerning the cancelation of the contract for consulting services

We hereby inform you that SIN CARS INDUSTRY JSC has sent a notification to ELANA TRADING JSC in order to terminate the relationship between the two parties under the contract concluded between them for consulting services by mutual consent.

SIN CARS INDUSTRY JSC will select a new advisor in fulfillment of its obligation according to the rules of the BEAM market on the BSE, and the conclusion of the new contract will be carried out and announced after the formal termination of the contract with the current consultant.

The decision of SIN CARS INDUSTRY JSC is strategic and is related to the implementation of the long-term plans of the company. The construction of the production line and the provision of the technological process with machines of the latest generation is in the process of implementation. The detailed report on the investments and the achieved goals will be announced in detail at the forthcoming general meeting of the shareholders of the company.