Monday, November 6, 2017 - 10:44
We would like to notify that an Annual meeting with the investors of Sopharma AD was held on 3 November 2017, which started at 2.30 pm and ended at 6.30 pm. The following announcement regarding the liability was made:
"Please note that at the Annual Meeting with the Investors of SOPHARMA AD (" the Company ") can be made oral and written "forward looking statements” about future events, which are essentially uncertain because they do not concern only past or current facts. All such statements are also based on a number of assumptions, expectations, forecasts and preliminary data for future events, determined by factors beyond the control of SOPHARMA AD, which are therefore uncertain and should not be considered as a reliable indicator of future results . The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except as may be required by applicable law. The information and opinions set forth in this meeting are current as of the date of the meeting and are subject to change without prior notice. Neither the information disclosed at this meeting, nor any part of it, nor the fact of its distribution, may serve as a ground upon which a party may invoke or in relation to which to sign a contract or to make an investment decision.
Sopharma AD is not responsible neither for decisions and actions taken based on the content of the information from this meeting nor for damages caused as a result of such actions and decisions.
The information, statements and opinions submitted at this meeting are for information purposes only and do not constitute a public offer under any applicable legislation or an offer for sale or solicitation for an offer for the purchase or subscribe of securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been or will be, registered under the US Securities Act 1933 or any subsequent amendments, or under the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or in any other country where such an offer or invitation would be illegal (the "other countries") and there will be no public offering of such securities in the United States. This information does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States or other countries.
Neither the Company, nor any member of the management of Sopharma AD, nor any of its representatives, directors or employees, accepts any liability whatsoever with connection with the information provided at this meeting or in relation to any loss from its use or from any relince placed on it. "
At the meeting, Sopharma AD, Sopharma Group and Sopharma Trading AD were introduced by short presentations about the financial results for the first nine months of 2017.
During the discussion session, a number of questions were asked, as a result of which the companies provided explanations regarding the following main areas of their activity:
1. Capital Investments - Sopharma AD announced that currently have been made decisions for exploring the possibilities for construction of two production facilities - in Kazanlak - extraction power and in Sofia new lyophilic production.
2. The registration of the product TABEX in the USA - Mr. Donev announced that at this stage, details are still unknown, as the start of clinical tests will begin in 2018.
3. Optimization, improvement of the operating result - Mr. Donev replied that this is mainly due to the optimization of the processes in the Group and in the Company, which continue with the intentions of the merger of Unipharm AD, whose documents are subject of approval by the FSC. In addition, Mr. Donev mentioned the projects for renovation of "Momina krepost" AD with European funds, which will allow the company to be more competitive and to offer better products.
4. External Markets - The new, rapidly growing but small-scale markets like Vietnam and the improvement of the macroeconomic environment in Russia and Ukraine were mentioned.
5. Shareholder Structure - Mr. Donev commented that at a meeting with the management of Romfarm, that he was allowed to cite, it was shared that Rompharm had left their trusted management package and that they were not the initiators of the recent actions during the last few months, as well as that they did not intend to go below the price of 4.27 BGN.
6. Sopharma Group - Mr. Dimitrov commented on the state of the Serbian market, namely that its maturity determines the possibility of big growth, as it was in Bulgaria about 10 years ago. Sopharma Trading AD considers that Lekovit's post-acquisition phase is going very well and that the plans for the Group, while preserving the macroeconomic framework, are at least doubling sales revenue over the next three years.
7. Retail at Sopharma Trading AD - questions about the "SOpharmacy" chain and its development, Mr. Dimitrov replied that all pharmacies grow faster than the market.