Development Bank of Kazakhstan announces changes in Board of Directors

/KASE, March 13, 15/ – Development Bank of Kazakhstan JSC (Astana, hereinafter – the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following: quote In accordance with decision of Management Board dated March 5, 2015 (Minutes No.06/15) of National managing holding Baiterek JSC (hereinafter – NMH Baiterek) being the sole shareholder of the Bank the following decisions were taken: 1. The number of members of the Board of Directors was approved – 6 (six) members for a term of 3 (three) years beginning from March 13, 2015. 2. The elected members of the Board of Directors beginning from March 13, 2015 are: - Kuandyk Bishimbayev representing interests of NMH Baiterek JSC; - Alina Aldambergen representing interests of NMH Baiterek JSC; - Yersain Hkamitov representing interests of NMH Baiterek JSC; - Bolat Zhamishev, Chairman of the Bank's Management Board; - Zhanat Alimanov, independent director; - Marcia Elizabeth Christian Favale, independent director. We announce that on March 12, 2015 the powers of the following former members of the Board of Directors shall expire: - Kuandik Bishimbayev representing interests of NMH Baiterek JSC; - Alina Aldambergen representing interests of NMH Baiterek JSC; - Bolat Zhamishev, Chairman of the Bank's Management Board; - Ulf Wokurka, independent director; - Jacek Brzezinski, independent director; - Zhanat Alimanov, independent director; - Marcia Elizabeth Christian Favale, independent director. unquote [2015-03-13]