/KASE, June 2, 2017/ – Kazkommertsbank (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release:
quote
Almaty, June 2, 2017 – On June 2, 2017 Kazkommertsbank JSC
(Kazkommertsbank) signed a Framework Agreement (Agreement) with the
Government of the Republic of Kazakhstan (represented by the Ministry of
Finance of the Republic of Kazakhstan), National Bank of the Republic of
Kazakhstan, SWF Samruk-Kazyna JSC (Samruk-Kazyna), NPL Fund JSC, Halyk
Savings Bank of Kazakhstan (Halyk Bank), BTA Bank JSC (BTA Bank) and a
major shareholder of Kazkommertsbank K. Rakishev (Parties).
As previously reported, Mr. Rakishev and Samruk-Kazyna Fund negotiated with
Halyk Bank regarding the possible sale of a controlling stake in Kazkommertsbank
(Transaction). In this regard, a non-binding Memorandum of Understanding
(Memorandum) was signed between the Parties on March 2, 2017. The
Agreement is concluded in accordance with the Memorandum and on a legally
binding basis stipulates the actions of each Party in the framework of the
Transaction.
In particular, the Agreement contains:
(a) purchase of certain BTA Bank’s assets and rights of claims by NPL
Fund;
(b) repayment of BTA Bank’s debt to Kazkommertsbank up to KZT2.4 trln;
(c) subject to a number of prerequisites, the acquisition by Halyk Bank of
Kazkommertsbank’s shares owned by K. Rakishev and Samruk-Kazyna
Fund with the subsequent possible Kazkommertsbank’s capital top-up by
Halyk Bank to ensure the required capital adequacy level of
Kazkommertsbank (Capital Top-up);
(d) actual size of Capital Top-up will be determined based on the results of
a due diligence, currently held by Halyk Bank and National Bank of the
Republic of Kazakhstan;
(e) taking into account the size of Capital Top-up (based on the
preliminary results of a due diligence by Halyk Bank), the nominal value of
Kazkommertsbank's shares purchased by Halyk Bank from Mr. Rakishev
and Samruk-Kazyna Fund is KZT1 for each stockholding;
(f) Government represented by the Ministry of Finance of the Republic of
Kazakhstan and National Bank of Kazakhstan will provide the necessary
support to ensure the successful finalization of the Transaction and
stability of the financial system.
In accordance with the terms of the Agreement, in the near future the Parties
plan to sign additional binding documents related to the Transaction, to be
announced.
Kazkommertsbank continues to work as usual and fully fulfills its obligations to
customers, creditors and shareholders.
Contacts:
Alma Buyrakulova, Vadim Yadrihinsky, Investor Relations
Tel: + 7 (727) 2 585-125, E-mail: investor_relations@qazkom.kz
Larisa Kokovinets, Corporate Communications
Tel.: +7 (727) 2 585-456, 2 585-392, E-mail: pr@qazkom.kz
unquote
Press release was published on KASE website at:
-
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_020617_rus.pdf – in
Russian
-
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_020617_eng.pdf – in
English
[2017-06-02]