/KASE, August 18, 14/ – KAZAKHMYS PLС (London), whose shares are officially
listed on Kazakhstan Stock Exchange (KASE), today provided KASE with the
following press-release:
quote
Kazakhmys PLC ("Kazakhmys" or the "Company") announces that at its General
Meeting held today, the Resolutions put to Shareholders in relation to the
proposed restructuring of the Company, as announced on 23 July 2014, were duly
passed on a poll.
The restructuring is a key step in delivering the Company’s strategic goals:
Focused on copper in Central Asia, Dominated by large scale, low cost, open pit
mines, The Transaction involves the transfer of mature assets in the Zhezkazgan
and Central Regions to Cuprum Holding, a private company owned by Vladimir Kim
and Eduard Ogay. The restructuring creates a more viable future for the Disposal
Assets and their surrounding communities Kazakhmys will retain five mines, with
high copper grade, low sustaining capital expenditure and a cash generative
profile
The Company will significantly increase future production through three major
growth projects. Completion remains subject to regulatory approvals in
Kazakhstan. Completion expected by the end of 2014.
unquote
The full press-release is available on KASE website at:
-
http://www.kase.kz/files/emitters/GB_KZMS/gb_kzms_reliz_180814_.pdf – in
Russian;
-
http://www.kase.kz/files/emitters/GB_KZMS/gb_kzms_reliz_150814_en.pdf – in
English.
[2014-08-18]