Results of noteholders' extra

RNS Number : 0495Q

KazakhGold Group Ltd

28 July 2010

 



RESULTS OF NOTEHOLDERS EXTRAORDINARY MEETING

U.S.$200,000,000 9.375 PER CENT. SENIOR NOTES DUE 2013

Further to KazakhGold's announcement of 2 July 2010 in relation to a consent solicitation of holders of its U.S.$200,000,000 9.375 per cent. Senior Notes due 2013 (the "Notes"), KazakhGold announces that, at the Extraordinary Meeting of noteholders held on 27 July 2010 in London, the Extraordinary Resolution set out in the Notice of Meeting provided to noteholders in accordance with the terms of the Trust Deed for such Notes was duly passed.

At the Extraordinary Meeting, amongst other things, Noteholders consented to: (1) waive certain existing breaches under the terms and conditions of the Notes; (2) waive pre-emptively certain breaches of the terms and conditions of the Notes that are expected to arise in connection with the Proposed Combination of KazakhGold and OJSC Polyus Gold, and (3) waive pre-emptively any default or event of default that may arise as a result of any restructuring, redomiciliation or liquidation of the Issuer's subsidiary Romanshorn LC AG. The consent will remain valid until 31 December 2010.

To be passed, the Extraordinary Resolution required a majority voting in favour consisting of at least three quarters of the votes cast at a duly convened and quorate meeting. Of a total of 164,382,000 votes cast, 129,551,000 votes (representing 78.81%) were cast in favour of the Extraordinary Resolution.

For further information please contact:

 Alexey V. Chernushkin, Director, CM and IR

Evguenia V.Buydina, IR manager

[phone]

[phone]

 [e-mail] 

Anton A. Arens, PR Director

[phone]

[phone]

 [e-mail] 

 

END

 

 

REGLIFLDDVITFII