The State Assets Management Agency of the republic of Uzbekistan

In accordance with the relevant privatization programs, the State Assets Management Agency (hereinafter - the UzSAMA) announces the start of the open sales process of 70% state share in the authorized capital of “UZ CНASYS” LLC (hereinafter - the Asset).

The consultant for privatization of the UzSAMA under this Transaction is "Portfolio Investments" (hereinafter - the Consultant).

Brief information about the Asset:

“UZ CНASYS” LLC was founded in 2008 and its main activity is production of electric lighting systems for automobiles.

• Authorized capital: 12,960.9 million UZS;
• Official website of the company: http://uzchasys.uz

Moreover, 30% of shares in the authorized capital of “UZ CHASYS” LLC is owned by “AMS CO.LTD” (Republic of Korea). In turn, “AMS CO.LTD” expressed its willingness to sell its share on the same terms and simultaneously with the UzSAMA.

It should be noted that the results of the sale process of 70% state share in “UZ CHASYS” LLC do not impose obligations on “AMS CO.LTD” to sell its share.

Information on the sales process:

The sales process for the Asset is based on a public invitation to negotiations method, which is open to all interested parties (hereinafter - Participants).

The process of selection of buyers will be carried out in two stages including Express of interest and Binding offer (BO) stage, at the final stage buyers are required to make a guarantee payment that is not less than 1% of the amount of the proposed binding price offer.

Conditions for the state asset acquisition:

1. Maintaining the core operations of the enterprise for a period of at least 10 years. Strict compliance with technical support license agreements with a supplier approved by General Motors (USA) - the product licensee, as well as with the requirements and related restrictions set forth in the General Alliance agreement for the use of technological equipment related to General Motors technologies;
2. Maintain for a period of 2 years the existing jobs and number of employees at the Enterprise (excluding jobs vacated due to natural causes), not to reduce the amount of the current payroll and not to worsen the terms of the collective agreement.

In its turn, prior to submission of binding offers with the participants of sales who passed to the stage of submission Binding Offers (BO), an Agreement (Term sheet) with the main terms for acquisition of the Asset will be signed.

Transaction process:

The sale is organized on the basis of competitive sale process and open to all interested parties (hereinafter - Applicants).

Currently, Applicants are invited to express their interest in the form of an Express of Interest application, which includes the following information:

1. Brief information about the Applicants (including TPIN, type of activity).
2. Information about shareholders/participants owning more than 5% of the share in the authorized capital of the Participant (indicating the share of ownership), as well as ultimate beneficiaries.
3. Financial statements for the last 3 years.

The Expression of Interest can be prepared in Uzbek, Russian or English languages until 18:00 (Tashkent time) on December 17, 2024 and sent to the e-mail address munir.yakubov@piamg.uz.

As part of this sales stage, the Consultant distributes investment teasers in order to attract potential investors.

The received applications will be selected in accordance with the following criterias:

• Sufficient financial resources to acquire the asset;
• absence of any judicial, administrative, arbitration, or other proceedings, the result of which may be a ban on participation in the privatization process;
• Compliance with Uzbekistan Law #660-II (as amended on January 15, 2019) "Countering the legalization of proceeds of crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction";
• Neither the Applicant (or in the case of a Consortium, any of the Consortium Members) nor its shareholders/participants shall be a state-owned company or a company with a state share in the authorized capital;
• Neither the Applicant nor any of the Consortium Members (in the case of the Consortium) must be on the public sanctions lists of the European Union and the United States or any of the major international development banks (World Bank, European Bank for Reconstruction and Development, Asian Development Bank), or on the date of the Application must be subject to any proceedings or investigation by the aforementioned sanctions authorities. Also, neither the Applicant (and, in the case of the Consortium, none of the Consortium Members) nor any of its/their affiliates is/are in any way involved in any activity (directly or through any subsidiary) contrary to the sanctions regime of the aforementioned institutions and states and, neither the Applicant (or in the case of the Consortium, any of the Consortium Members) nor any of its/their Related Parties have as principal financiers or lenders banks or financial institutions which are sub-sanctioned persons or persons controlled or owned by sub-sanctioned persons.

Applicants who have successfully passed the Express of Interest stage will be invited to participate in the next stage of the privatization process, and Process Letter with detailed information on this stage will be addressed to them individually by the Сonsultant.

The contact persons for this project are:

• Munir Yakubov, Director of Portfolio Investments: yakubov@piamg.uz, tel: +998(90) 901-65-59;
• Talat Samandarov, Head of Department of UzSAMA: tender@davaktiv.uz, tel: +998(71) 259-20-67.

With potential investors progressing to the next stage of accepting Binding Offers (BO), a Non-Disclosure Agreement (NDA) is signed and access is provided to the Virtual Data Room (VDR), where information on the Asset's performance and analytical data prepared by the Consultant is stored, as well as the opportunity to visit the Asset and ask questions of its management body.

UzSAMA provides the public with additional information about each stage of the privatization process.

DISCLAIMER

UzSAMA reserves the right to change the sequence of the privatization process or refuse to sell to any potential buyer(s) or negotiate with them at any time without explanation.

This announcement, or any part of its content, should not be taken as a form of obligation on the part of UzSAMA, "Portfolio Investments" in relation to the Asset sale, as one might assume in connection with the publication of this announcement. UzSAMA and "Portfolio Investments" reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) Change the deadline for submission of applications;

(ii) Follow different procedures with respect to different stakeholders and/or negotiate with one or more potential buyers within the schedule and procedure established jointly by the UzSAMA and "Portfolio Investments", to the exclusion of any other potential buyer(s) without prior notice;

(iii) Stop the sale process for any reason;

(iv) Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.