Kazakhstan Chamber of Commerce in the USA

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Kazkommertsbank to buy part of the Bank’s common shares owned by JSC Samruk-Kazyna

Posted on August 13, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #91

Joint-Stock Company Kazkommetsbank (“KKB” or the “Bank”), one of the largest banks in Kazakhstan and Central Asia, today announces that in accordance with the Option Agreement in respect of JSC Kazkommertsbank as of 15 January 2009 signed between JSC Samruk-Kazyna, JSC Central-Asian Investment Company, Mr. N.S. Subkhanberdin, JSC Alnair Capital Holding and the Bank (the “Option Agreement”), the Bank intends to exercise its right to buy part of the Bank’s common shares owned by JSC Samruk-Kazyna based on the terms of the Option Agreement and in accordance with the legislation of the Republic of Kazakhstan.

The Bank also extends the offer to other minority shareholders (holders of common shares), to buyback common shares of the Bank at the following terms.

The total amount of the Bank’s common shares announced for buyback (the “Shares”) will not exceed 79,198,025 common shares at the price of 475.3667 tenge per one common share. One Global Depositary Receipt (“GDR”) equals to two common Shares. The price for one GDR is fixed at 950.7334 tenge.

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