Jordanian company now co-founder of BelVitunipharm

VITEBSK, 22 April (BelTA) - Jordanian Pharmaceutical Manufacturing Co PLC is now a co-founder of the Belarusian open joint-stock company BelVitunipharm along with the state. The work to set up the open joint-stock company via converting the state enterprise BelVitunipharm is over. The state registration of the new company took place on 21 April, BelTA learned from Mikhail Pavlyuchkov, Director of the Vitebskoblimushchestvo fund. Jordanian Pharmaceutical Manufacturing Co PLC became a co-founder via direct negotiations because the tender to choose a co-founder has not taken place. An agreement has been signed to create the open joint-stock company. For the operation of the company the founders have set up an authorized fund of Br39,714,800. The authorized fund is divided into 99,287 ordinary shares with the face value of Br400,000 each. The state share in the authorized fund is 99.85% (99,137 ordinary shares), the share of the other founder 0.15% (150 ordinary shares). Within three years the Jordanian company is supposed to buy additional shares to the tune of at least $14 million for the sake of implementing an investment project that envisages the establishment of a new pharmaceutical enterprise in Vitebsk. The share of the Jordanian company in the authorized fund can reach 53%. The extra shares to be released will be paid for with money or with transfers of intellectual property as well as property rights to scientific and technical documentation used to manufacture medications sufficient to reach the main economic performance targets that the business plan of the investment project specifies. The Belarusian enterprise BelVitunipharm was founded in 2008. It specializes in manufacturing pharmaceutical preparations and materials, medical products for veterinary science, medical instruments and equipment.

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