/KASE, October 17, 14/ – Alliance Bank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), today provided KASE
with the following press-release of October 14, 2014:
quote
JSC Alliance Bank (the "Bank") is pleased to announce that it will be holding a
meeting of certain of its financial creditors (the "Claimants' Meeting") on 19
November 2014 to approve the Bank's Restructuring Plan. The Bank has published
an Information Memorandum dated 13 October 2014 which contains detailed
information about the Restructuring Plan, as well as a description of the
procedures for creditors to vote on the Restructuring Plan and submit claims.
Please note that holders of the Bank's debt securities ("Noteholders") may use
the voting process set out for the Noteholders' Meetings as previously announced
and do not need to submit claims or vote in person at the meeting. The
Information Memorandum is available on the Bank's website at
www.alb.kz/en/investor_relations , to eligible persons after completion of
specified certification procedures.
Under the Restructuring Plan, the claims of certain of the Bank's financial
creditors will be cancelled or restructured, in consideration for which most of
such creditors will receive a combination of cash and new debt and equity
securities of the Bank. Details of the terms of the new securities are contained
in the Information Memorandum.
The Restructuring Plan requires the approval of creditors holding two-thirds of
the indebtedness subject to the Restructuring. The Bank has issued notices of
meetings of Noteholders to be held on 31 October 2014. Noteholders will be
asked to pass extraordinary resolutions to approve the Restructuring Plan and
instruct the Trustee to vote on their behalf at the Claimants' Meeting. If the
original Noteholders' Meetings are not quorate, adjourned Noteholders'
Meetings will be held on 14 November 2014.
unquote
The full press-release is available on KASE website in Russian at
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_141014.pdf
[2014-10-17]