GeoGenix B.V. the sole shareholder of Integrated Energy BV SPV Ltd., has for some time taken observance of events surrounding our investments in Albania, specifically regarding various assertions made within the media and political arena. Given the recent completion of the Parliamentary Inquiry Commission on Urban Waste Treatment Plants, we have determined it an appropriate time to address the following topics that appear to be central to the current discussions in the public domain. GeoGenix B.V. is a joint venture between leading European industrial and engineering companies with the objective to bring together various specializations and technological advancements to the waste management industry. Operating on a global level with various projects around the world, GeoGenix B.V. collaborates with local partners and consultants to assist in the business environment and various activities in the country. In this respect, Zoto Consulting Ltd. and Consulting SE Ltd., functioned as local consultants and Integrated Technology Services Ltd. as a subcontractor of Integrated Energy BV SPV Ltd. Having followed the allegations around these companies, and choosing not to interfere in the political and/or legal discourse regarding them, we as the managing board have taken careful consideration of these events, and have concluded it to be in the best interest our business to immediately terminate without prejudice all contractual relations between Integrated Energy BV SPV Ltd. and Zoto Consulting Ltd., Integrated Technology Services Ltd., as well as Consulting SE Ltd. In this regard, we reiterate that our sole relationship with these companies and their shareholders have been contractual in nature. GeoGenix B.V. thanks these companies for their work and assistance. We affirm our commitment to our values and the importance of our reputation, aiming to operate with integrity and transparency and we hold our employees and subcontractors to the highest ethical standards. Notwithstanding the above, GeoGenix B.V. as the sole shareholder of Integrated Energy BV SPV Ltd. which holds the concession, guarantees the realization and continuation of the concession in accordance with the contractual commitments. We are confident in the continued realization of this concessionary project and fulfilment of the obligations of all parties involved. GeoGenix B.V. provides long term environmentally sustainable solutions in the international waste management industry and cooperates with leading European industrial and engineering companies in realization of its business.
