/KASE, July 14, 2016/ – National Company KazMunayGas (Astana), whose securities
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release:
quote
JSC National Company KazMunayGas ("NC KMG") has today published an updated version
(the "Revised Circular") of its circular to shareholders of JSC KazMunaiGas
Exploration Production ("KMG EP" or "the Company") dated 17 June (the "Original Circular").
The Revised Circular is available as follows:
http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_140716__3_en.pdf
The Revised Circular contains the amendments announced by NC KMG on 13 July 2016,
namely that:
- NC KMG will increase the consideration for the offer to purchase Common
Shares and Preferred Shares of KMG EP listed on the Kazakhstan Stock
Exchange and GDRs of KMG EP listed on the London Stock Exchange (the
"Purchase Offer"), in the event that the proposals in the Revised Circular
are accepted, from $7.88 per GDR to $9.00 per GDR and equivalent increases
to $54.00 per Common Share in KZT equivalent calculated on a daily basis,
and $31.55 per Preferred Share in KZT equivalent calculated on a daily
basis. All other terms and conditions applicable to the Purchase Offer
remain as described in the Original Circular. This is a firm offer to buy all
shares that are offered to KMG NC and is not conditional on anything apart
from the proposed changes in the Charter and Relationship Agreement
being approved. In the event that NC KMG fails to meet its obligations under
the Purchase Offer in full following approval of the proposals contained in
the Revised Circular, none of the proposals will take effect.
- NC KMG will not have a veto over future nominations of EP INEDs by the
Nominations Committee of the KMG EP Board, to ensure that minority
investors can have the maximum possible confidence in the full independence
of the EP INEDs in future.
unquote
The full press release is available on KASE website (in Russian) –
http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_140716_4.pdf
[2016-07-14]