Conversion of shares, launching the D&E and transition to stage 19: what was discussed at the SOLARGROUP conference in Moscow
A lot of important information for investors and partners was announced at the SOLARGROUP International Conference, which took place on September 16 in Moscow. We will briefly cover them, and you can find out all the details on each topic by watching the recording of the broadcast using the specified time codes.
Conversion into shares
Konstantin Rozhkov, an expert on conversion of shares and corporate lawyer, was a special guest speaker at the conference. He explained how "Sovelmash" will perform the conversion of shares and reorganisation into a public joint-stock company, and answered the most frequently asked questions about the conversion of shares, IPO and earning dividends. We will discuss this complex and multi-step process later on. Now the specialists are preparing for launching the conversion feature in the back office, it will start functioning in November this year.
You can watch the speech on the conversion of shares by clicking here.
Launch of the D&E and developments by "Sovelmash"
Alexander Sudarev spoke about the history and progress of the construction process for the "Sovelmash" design and engineering technology department, operation of the new laboratory, patent work and the company's developments. Moreover, he explained what tasks must be completed to finish the construction and how the D&E commissioning, asset valuation and conversion of company's shares would be handled.
Alexander Sudarev's speech on these issues is available here.
Information from potential customers of "Sovelmash"
Representatives of Indian companies interested in co-operation with "Sovelmash" made presentations at the conference.
Ashok Chabria, co-founder of Rap Eco Motors, spoke about the production of electric tricycles that are shipped worldwide.
Niranjan Singhvi, Vice President of LHP Motors, informed about the company that develops and manufactures different types of electric motors.
Information about a new project
General Director of SOLARGROUP Sergey Semyonov revealed that it was planned to build a plant producing "Slavyanka" based electric motors on the territory of the SEZ "Technopolis "Moscow". Those will be the objectives of the new project, but the investors in the current project will get their share of profits from the activities of the new enterprise.
The plans to produce angle grinders on the territory of the D&E were also announced, as co-operation with the Chinese company does not suit the company.
Sergey Semyonov's announcement of new projects is available here.
Alexander Sudarev also spoke about the future projects of "Sovelmash".
Financial performance
Pavel Shadskiy reported on the funding results for the past year since the 2022 conference. He announced record-high figures for the amount of investments attracted, as well as the number of investors and the volume of investments by country. Each of the national partners present at the conference spoke in detail about the performance in their country.
Pavel Shadskiy's performance can be viewed by following the link.
"Slavyanka" based vehicles worldwide
Andrey Lobov, head of the "Resurs" production co-operative, made a presentation at the conference. He spoke about his trips to different countries, during which he demonstrated "Slavyanka" based vehicles. You can find out about the progress and prospects of these endeavours by following this link.
Going to stage 19 and extension of the "Thank You" offer
Pavel Filippov, Head of Advertising and Public Relations at SOLARGROUP, announced that the project would go to funding stage 19 in the autumn and that the "Thank You" offer would be extended until September 30 inclusive.
For more details, follow the link.
Besides, Pavel Filippov informed about the upcoming launch of a new lottery on October 1 with a chance to win an electric car.
Follow our news to find out more information on the topics addressed at the conference!
