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JSC Kazkommertsbank (JSCD)

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Tuesday 07 November, 2006

JSC Kazkommertsbank

Domestic offer of shares

JSC Kazkommertsbank
07 November 2006


                Offer of JSC Kazkommertsbank to its shareholders                

            to exercise pre-emptive right to purchase common shares.            

                                                                 7 November 2006

 

 

Joint Stock Company Kazkommertsbank ('the Bank') hereby announces offer of the
Bank's common shares according to the resolution of the Board of Directors of
the Bank dated November 03, 2006 on following conditions:

 

Number and type of offered common shares - 103,500,000 (One hundred and three
million five hundred thousands) shares.

 

Ratio of the number of placed common shares (excluding shares bought back by the
Bank) to the number of common shares being offered is 4.55548884.

 

Offer Price is fixed in US Dollars and is identical for all persons
participating in the offer. Offer Price equals USD 9.25 per 1 share (USD 18.50
per 1 depositary receipt; 1 depositary receipt represents 2 common shares) and
reflects the fair value as at the date of the sale by certain existing
shareholders of the Bank's common shares in form of depositary receipts on the
London Stock Exchange. Local currency equivalent of the offer price is KZT
1 181,225 (one thousand one hundred eighty one, 225 Tenge) per 1 share
calculated on basis of the exchange rate set by the Bank on the date of the
Board resolution (KZT 127,7 for 1 US Dollar) such price is equal to.

 

Actual price of one (each) common share in Tenge is calculated according to the
following formula: 1 181.225 + (X - 127.7) * 9,25 where X - is the Bank's US
Dollar purchase exchange rate determined by the Bank on the date of actual
settlement for the purchased shares by the shareholder. Shareholders can contact
Treasury Department of the Bank at: +7 (3272) 585-460 (Mr. Daniyar Beldeubaev)
to obtain precise exchange rate on the date of actual settlement .

 

List of Shareholders, eligible to subscribe for common shares of the Bank under
the current offer is fixed by the registrar of the Bank at 00 hours 00 minutes
on November 03, 2006 (further - Record Date).

 

Period, during which eligible shareholders of the Bank can submit applications
to purchase the Bank's shares will commence on the date of publication of this
Offer (November 07, 2006) and last 30 (thirty) calendar days ('Period').

 

Conditions of the offer. Offer shares shall be placed among eligible existing
shareholders / GDR holders appearing in the register on the Record Date.
Eligible shareholders basic entitlement will be to subscribe for its pro rata
share of the number of offer shares at the price of placement. In addition,
eligible shareholders will be entitled to simultaneously apply for an additional
number of shares in excess of their pro rata entitlement. The rump common shares
will be distributed among shareholders, who applied for an additional number of
shares, on a pro rata basis but within the limits of submitted application. Such
applications will be scaled down pro rata given that the total number of shares
owned by shareholders, who applied for an additional number of shares on the
Record Date, is equal to 100%.

 

The placement under the current decision will be completed once all pro-rata
applications and applications for additional amounts of shares are processed and
satisfied. If as a result of such placement part of the common shares will be
left unplaced, decision on placement of such shares will be made by the Board of
Directors separately.

 

Presentation of applications by shareholders should be made in the following
way:
   
  * Holders of common shares and depositary receipts of the Bank, information
    on which appears in the registry system of the Central Depositary or
    registrar, shall deliver their applications directly to Bank (Corporate
    Secretary of the Bank, Mukhamediyarova Aigerim, phone +7 (3272) 585-221);
  * Holder of depositary receipts of the Bank, information of which does not
    appear in the registry system of Central Depositary or registrar, shall
    present their requests via The Bank of New York for the name of Central
    Depositary via Custodian Bank of shares.

 

Presentation of the applications on the additional amount of shares by
shareholders and holders of the depositary receipts should be directed to the
Bank (Corporate Secretary of the Bank, Mukhamediyarova Aigerim, phone +7 (3272)
585-221) with the form, determined by the Bank.

 

Holders of depositary receipts present their applications to the Bank via The
Bank of New York.

 

Contact details of JSC 'Central depositary of securities' - 050000 Almaty,
Aiteke Bi str., 67; Phone +7 (3272) 720215, 720310; Fax +7 (3272) 720310; E-mail
csd@csd.kz ; Contact person: Aibol Aliya

 

Forms of the application on purchase of shares could be found on the Bank's
website www.kkb.kz.

 

 




                      This information is provided by RNS
            The company news service from the London Stock Exchange