/KASE, December 18, 14/ – Alliance Bank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release of December 16:
quote
JSC Alliance Bank (the "Bank") is pleased to announce that on 15 December 2014
(the "Restructuring Date") the Restructuring Plan (the "Plan") of the Bank in
relation to the U.S.$1.3 billion of the Bank’s financial indebtedness has been
successfully closed, subject to the formal termination of the restructuring
proceedings by the Specialised Inter-district Economic Court of Almaty (the
"Court") which is expected later this year. The Plan had previously been
approved by creditors holding approximately 90.5 per cent. of the financial
indebtedness subject to the Plan on 19 November 2014 and by the Court on 11
December 2014. On the Restructuring Date the Bank distributed entitlements to
approximately 75 per cent. of all Noteholders.
90.7 per cent. of holders of the Discount Dollar Notes due 2017, 99.1 per cent.
of holders of the Discount Tenge Notes due 2017, 89.8 per cent. of holders of
the Par Dollar Notes due 2020 and 81.7 per cent. of holders of the Recovery
Notes received their entitlements on the Restructuring Date.
Holders of the Par Tenge Notes due 2020 and Subordinated Tenge B Notes due
2030 have not yet received their entitlements because they must pass
Extraordinary Resolutions cancelling the relevant series of Notes in order to
receive entitlements. The first meetings to approve this resolution took place
on 12 December 2014 and were inquorate for both series of Notes. The adjourned
meetings will take place on 9 January 2014 and, if the Extraordinary Resolutions
are passed at such adjourned meetings, it is expected that holders will receive
their entitlements on 12 January 2015.
unquote
The full press-release is available on KASE website in Russian at
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_161214.pdf
[2014-12-18]