Management Board of KASE invalidates Rules of annual recognition of most distinguished members of Kazakhstan Stock Exchange JSC

05.02.15 10:39
/KASE, February 5, 15/ – By Kazakhstan Stock Exchange (KASE) Management Board decision of December 18, 2014 KASE internal document "Rules of annual recognition of the most distinguished members of Kazakhstan Stock Exchange JSC" (hereinafter – the Rules) was invalidated. The said decision was taken due to low liquidity of securities in the stock market, absence of members of the Exchange who would affect, or who were substantively capable of affecting, this parameter of the market, as well as due to a high degree of monopolization of the repo transactions market. Based on the results of 2014 year-end the Management Board of KASE took the decision not to award the most distinguished members of the Exchange but to provide them with letters-certificates of gratitude: • Subsidiary Bank of China in Kazakhstan JSC and Subsidiary Bank Sberbank of Russia JSC for their contribution to the launch of trading in KZT/CNY foreign-exchange pairing; • Kazpost JSC and Freedom Finance JSC for active participation in subscription to ordinary shares of Kazakhstan Electricity Grid Operating Company "KEGOC" JSC under "People's IPO" program. KASE annually honors the Exchange members demonstrating the best business conduct practice in the securities market from 2003 based on the results of the relevant fiscal year-end. The previous year's award winners are listed on KASE website at http://www.kase.kz/en/members_diplomas [2015-02-05]