/KASE, August 11, 14/ – Kazkommertsbank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release of August 11, 2014:
quote
Joint-Stock Company Kazkommertsbank ("KKB" or the "Bank") (LSE: KKB; KASE:
KKGB), one of the largest banks in Kazakhstan and Central Asia, today announces
that in accordance with the Option Agreement in respect of JSC Kazkommertsbank
as of 15 January 2009 signed between JSC Samruk-Kazyna, JSC Central-Asian
Investment Company, Mr. N.S. Subkhanberdin, JSC Alnair Capital Holding and the
Bank (the "Option Agreement"), the Bank intends to exercise its right to buy the
second part of the Bank’s common shares owned by JSC Samruk-Kazyna based on the
terms of the Option Agreement and in accordance with the legislation of
the Republic of Kazakhstan.
In accordance with clause 1 of Article 26 of the Law #415-II on Joint-Stock
Companies of the Republic of Kazakhstan as of 13 May 2013, the Bank also
extends the offer to other minority shareholders (holders of common shares), to
buyback common shares of the Bank on the following terms.
The total amount of the Bank’s common shares announced for buyback (the
"Shares") will not exceed 57,000,000 common shares at the price of 475.3667
tenge per one common share. One Global Depositary Receipt ("GDR") equals to two
common Shares. The price for one GDR is fixed at 950.7334 tenge.
unquote
The full press-release is available on KASE website at:
-
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_110814.pdf – in Russian;
-
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_110814_e.pdf – in English.
[2014-08-11]