Ucom Board of Directors' Statement Addressed to Company Employees

The Board of Directors of Ucom, a telecommunications company in Armenia, has sent a letter to its employees aimed at resolving the situation within the company and ensuring business continuity. It states:

“Dear colleagues, thank you for ensuring the uninterrupted operation of the company through your responsible actions. Today, as work and education are conducted remotely due to the pandemic, our commitment is to ensure our subscribers' connectivity and accessibility to continue the normal course of life.

We understand that the uncertainty and anxiety of the past weeks have placed you in a challenging situation. We recognize that many of you have faced dilemmas and have taken steps to maintain team spirit. We also highly appreciate the rational approach and neutrality of those who have not engaged in shareholder disputes.

As a resolution to the situation, we would like to emphasize that the company does not intend to question the actions of employees during the crisis days, leaving all that in the past. The only agenda today is the reunification of the team around a single goal — to best serve our subscribers as a leading Armenian telecom operator.

On this occasion, the commitment of the Board of Directors of Ucom to the company's employees is as follows:

1. Since the legal three-day deadline for the withdrawal of resignation applications has expired, we inform you that, as you have been previously informed, you have the opportunity to withdraw your applications within the specified time frames. We understand and respect the steps you have taken, but we emphasize that decisions should be made with a rational assessment of the situation.
2. We are aware that you have been informed through various sources of concerns about the stability and longevity of jobs within the Company. We officially announce and confirm that the company is stable, continues its operations, and no layoffs are planned.
3. We acknowledge that you may have concerns regarding salary payments due to objective and subjective reasons. We inform you that the Board of Directors has engaged additional resources to ensure the continuity of salary payments and operations. Under the leadership of the newly appointed CEO Ara Sergey Khachatryan, this issue has been addressed and will be communicated to you further.
4. We understand that there may be uncertainty regarding the organization of work processes in some departments of the company. Due to work restrictions caused by the pandemic, this issue may take some time to resolve, but we are confident that the company, under the new CEO's leadership, will address this issue quickly, as it has resolved other matters. We ask for your patience and, of course, initiative.
5. Although the activities of the Board of Directors have been indirectly communicated to employees in recent years, we find it important to restore direct communication and transparency for the benefit of the company. A dedicated email address [email protected] has been created to ensure accountability of the Board of Directors to the employees, through which you will receive direct and immediate information about key issues concerning the company.

Looking forward to Ucom's development, we are confident that great heights and moments of pride await us, and until then, we intend to attract new opportunities and investments for stabilization.”