Kyiv, October 21, 2022: AMIC Energy Group strongly disagrees with the decision of the Kyiv Court of Appeal (KCA), which, following a hearing on October 20, refused to cancel the unjustified seizure of the authorized capital of FDI "AMIK Ukraine".

All objections and evidence presented by AMIC Energy regarding the absence of the event and corpus delicti as such were left without due consideration and analysis. AMIC Energy Group believes that no evidence has been presented in the case that would substantiate the position on leaving under arrest the corporate rights in the amount of more than UAH 50 million.

The courts, unfortunately, take the position that the fact that a decision was made on the recognition of corporate rights as material evidence is sufficient for an arrest, while the courts do not assess the legality of such decisions of the investigator.

According to this logic, the arrest of any property in respect of which an investigator has issued a decision to recognize it as material evidence will be considered legal, which generally eliminates the importance of judicial control in the pre-trial investigation.

AMIC Energy continues to demand justice from the judicial system in Ukraine and is already preparing an appeal to the court of first instance regarding further appeal against the arrest.

Context:

On August 18, 2022, the Economic Security Bureau of Ukraine (ESBU) published information on the arrest of the real estate and the trademark of FDI "AMIC UKRAINE". The reason for the decision to arrest was the company's alleged tax evasion during 2015-2022, as well as its "connection" with the aggressor country.

AMIC UKRAINE considers both accusations groundless and unfounded and sees the actions of ESBU as signs of intentional illegal pressure on a foreign investor. The company's management strongly disagrees with the ESBU's arbitrary accusations and continues to appeal the illegal decision by all means and tools provided by law.