/KASE, December 8, 2017/ – National Company KazMunayGas (Astana), whose securities
are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE
about the following:
quote
JSC National Company KazMunaiGas ("NC KMG") notes the announcement made today by
its subsidiary JSC KazMunaiGas Exploration Production ("KMG EP") relating to the
launch of a conditional tender offer (the “Tender Offer”) to repurchase all of
its outstanding Global Depositary Receipts (the "GDRs") and common shares. Subject
to the satisfaction of certain conditions, KMG EP will apply to the London Stock
Exchange and Joint-Stock Company Kazakhstan Stock Exchange for the delisting of
the GDRs and common shares, respectively.
NC KMG supports the Tender Offer and considers the terms of the Tender Offer
to be beneficial for KMG EP's GDR holders and holders of common shares.
The Tender Offer is intended to provide a monetisation option to holders of
GDRs and common shares in KMG EP at an attractive premium to the closing market
price on December 1, 2017 (the last trading day prior to the preliminary
announcement of the Tender Offer).
NC KMG believes that the Tender Offer is an important step in delivering the
strategy of KMG EP and an effective way to achieve its long-term goals.
unquote
More details are available on KASE website –
http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_081217_1.pdf
[2017-12-08]