/KASE, December 4, 2017/ – KazMunaiGas Exploration Production (Astana), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has informed
KASE of the following:
quote
The Company wishes to announce its intention to launch a tender offer (the
"GDR Tender Offer") to repurchase all of its outstanding GDRs at a price of
US$14.00 per GDR, representing a premium of 23.7 per cent. to the 30-day
volume-weighted average GDR price of US$11.32 at 1 December 2017. The release of
this announcement has been approved unanimously by the Board of Directors of the
Company.
Subject to the approval by shareholders of the Company of certain amendments
to the Company's valuation methodology required in connection with the GDR
Tender Offer (which approval will be sought at an initial EGM), and subject to
the Company having acquired such number of GDRs as part of the GDR Tender Offer
as will ensure that JSC National Company KazMunayGas ("NC KMG") can exercise at
least 75 per cent. of voting rights in the Company, the Company also intends to
launch a further tender offer to acquire all of its outstanding Common Shares
not already owned by NC KMG on the same economic terms as the GDR Tender Offer.
unquote
More details are available on KASE website –
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_041217_eng_1.pdf
[2017-12-04]