/KASE, December 8, 2017/ – KazMunaiGas Exploration Production (Astana), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has informed
KASE of the following:
quote
Following the announcement on 4 December 2017 of its intention to make
a tender offer for its GDRs, the Company announces that the board of
KMG EP has unanimously approved the launch of a conditional tender offer to
repurchase all of its outstanding GDRs at a price of US$14.00 per GDR. The
Board has also approved the convening of an extraordinary general meeting of
shareholders (EGM 1) to be held on 22 January 2018 to vote on certain
amendments to the Company's valuation methodology.
KMG EP will implement the Tender Offer by acquiring as principal
validly tendered GDRs at the Tender Price. Qualifying GDR Holder s who
accept the Tender Offer are entitled to receive:
for each GDR US$14.00 in cash less any applicable Kazakhstan withholding
tax
The Tender Price represents a premium of 23.7 per cent. to the 30-day
volume-weighted average GDR price of US$11.32 at 1 December 2017
(being the last trading day before the date of the Possible Offer
Announcement).
unquote
More details are available on KASE website:
-
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_081217.pdf – in Russian;
-
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_081217_en.pdf – in English.
The tender offer for GDR repurchase is available on KASE website –
http://www.kase.kz/files/emitters/RDGZ/rdgzf9.pdf
[2017-12-08]