Corruption Prevention Commission of the Republic of Armenia

According to the article entitled “Assistant to Armenian President to Build Brewery and Restaurant in Arzni” published in “Hetq” online media, Elizabeth Shmavonyan, related person to the RA President’s Assistant Avetis Berberyan, failed to declare her shares in “Bitter River” LTD in her annual declarations for 2015 and 2016 respectively. According to Article 34 of the RA Law on “Public Service”, the declaration of the family member of the declarant official should include information on the security and (or) another investment owned by the ownership right if during the fiscal year the total price (value) of purchase or alienation transactions of securities has exceeded 8 million AMD. Elizabeth Shmavonyan, related person to A. Berberyan, declared her shares in the amount of 50.000 AMD in “Dar Gett” LTD in her related person’s annual declaration for 2015, though in a line with the above mentioned provision, she was not obliged to declare it, since the total amount of the share purchase does not exceed 8 million AMD. According to an extract from the official webpage of the State Registry of the Legal Entities of RA Ministry of Justice (https://www.e-register.am/), “Dar Gett” LTD was renamed to “BITTER RIVER” LTD on 16.09.2016, therefore Elizabeth Shmavonyan filled in data regarding her share in “BITTER RIVER” LTD in her annual declaration for 2015. In a line with the RA Law on “Public Service”, Elizabeth Shmavonyan was not obliged to declare data about her share in “BITTER RIVER” LTD or about the renaming of the company, since the latter has not carried out any purchase or alienations transaction regarding her shares and there is not requirement prescribed in regard to reflecting a data on the renaming of the company.