NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA,
AUSTRALIA, CANADA OR JAPAN
July 25, 2007
Kazakhstan Kagazy PLC (the 'Company' or 'Kagazy'), a major industrial group in
Kazakhstan, today announced that its Global Depositary Receipts (GDRs) have been
admitted to the UK Listing Authority's Official List and to trading on the main
market of the London Stock Exchange. Unconditional dealings in the GDRs
commenced at 09:00am (London local time) on Wednesday, July 25th.
ING Bank N.V., London Branch, acted as Global Co-ordinator, Bookrunner and Lead
Manager of the Offering.
For further information, please visit www.kazakhstankagazy.com or contact:
Kazakhstan Kagazy Kazakhstan Kagazy Shared Value Limited
Yuriy Bogday Alessandro Manghi Larisa Kogut-Millings
Business Development Investor Relations Investor Relations
Tel: +7 3272 448 790 Tel: +7 3272 448 787 Tel. +44 (0) 20 7321 5037
firstname.lastname@example.org email@example.com firstname.lastname@example.org
Kazakhstan Kagazy PLC, which is incorporated in the Isle of Man, owns a major
industrial group in Kazakhstan. The Company runs Central Asia's largest producer
of paper, corrugated board and packaging products through a subsidiary, which
was established in 2001. Kagazy stands for 'paper' in the Kazakh language. It
also operates one of the leading commercial real estate development companies in
the country through Prime Estate Activities Kazakhstan LLP (Peak), which owns
approximately 538 hectares of prime land, strategically located in a newly
created industrial zone near Almaty, for construction of commercial warehousing
and logistics infrastructure facilities. The Group reported total assets of
approximately KZT 41,838 million (US$ 337.8(1) million) as at March 31, 2007 and
consolidated revenues of approximately KZT 1,687 million (US$ 13.5(2) million)
for the first quarter ended 31 March 2007, according to unaudited IFRS financial
The contents of this announcement, are the sole responsibility of the Company
and have been approved by ING Bank N.V., London Branch (the 'financial
adviser'), solely for the purposes of section 21 of the Financial Services and
Markets Act 2000, as amended. The financial adviser is authorised and regulated
in the United Kingdom by the Financial Services Authority, is advising the
Company and no one else in relation to the Offering and will not regard any
other person as its client in relation to the Offering and will not be
responsible to any person other than the Company for providing the protections
afforded to its clients or for advising any other person in relation to the
Offering or any transaction or arrangement referred to or information contained
in this announcement.
Neither this announcement nor any copy of it may be taken or transmitted into
the United States, Australia, Canada or Japan or to a resident, national or
citizen of Australia, Canada or Japan. The offering and the distribution of this
announcement and the other documents or other information relating to the
Offering may be restricted by law in certain jurisdictions. No action has been
taken by the Company or the financial adviser that would permit the offering
and/or possession or distribution of this announcement or any other offering or
publicity material relating to the Offering in any jurisdiction where action for
that purpose is required, other than to certain investors in the United Kingdom.
Persons outside the United Kingdom into whose possession any of the documents or
other information contained in this announcement comes are required by the
Company to inform themselves about and to observe any such restrictions. Any
failure to do so may constitute a violation of the securities laws of such
This announcement does not constitute, or form part of, an offer or invitation
to sell or issue, or any solicitation of an offer to purchase or subscribe for,
securities and any subscription for or purchase of, or application for,
securities of the Company to be issued or sold in connection with the Offering
should only be made on the basis of information contained in the prospectus to
be issued in due course in connection with the Offering and any supplements
thereto. The prospectus will contain certain detailed information about the
Company and its management, as well as financial statements and other financial
data, and will be available from the financial adviser.
This announcement is not an offer of securities for sale in the United States.
The ordinary shares and GDRs of the Company have not been and will not be
registered under the US Securities Act of 1933, as amended (the 'Securities
Act'), and may not be offered or sold in the United States or to US persons
unless registered under the Securities Act or an exemption from the registration
requirements of the Securities Act is available. No public offering of the
shares or GDRs is being made in the United States.
This announcement is not an offer of securities for sale in Canada, Japan or
Australia. The GDRs will not qualify for distribution under any of the relevant
securities laws of Canada or Japan, nor has any prospectus in relation to the
GDRs been lodged with the Australian Securities and Investment Commission.
Accordingly, absent registration or an available exemption from such
requirements, the GDRs may not be offered or sold, directly or indirectly, in or
into Canada, Japan or Australia.
This announcement includes statements which are, or may be deemed to be,
'forward-looking statements'. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company's products and services) are forward-looking
By their nature, such forward-looking statements involve known and unknown
risks, uncertainties and other important factors that could cause the actual
results, performance or achievements of the Company to be materially different
from future results, performance or achievements expressed or implied by such
forward-looking statements. These factors include but are not limited to those
described in the formal prospectus to be issued in connection with the Offering.
Such forward-looking statements are based on numerous assumptions regarding the
Company's present and future business strategies and the environment in which
the Company will operate in the future. Forward-looking statements may and often
do differ materially from actual results. Any forward-looking statements in this
announcement speak only as at the date of this announcement and are subject to
risks relating to future events and other risks, uncertainties and assumptions
in relation to the Company's operations, results of operations, growth strategy
and liquidity. Subject to any legal or regulatory requirements, the Company
expressly disclaims any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statements contained in this announcement to
reflect any changes in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
Information in this announcement or any of the documents relating to the
Offering and/or the GDRs cannot be relied upon as a guide to future performance.
(1) Based on a National Bank of the Republic of Kazakhstan KZT/US$ exchange rate
as at March 31, 2007, (123.8 KZT/US$).
(2) Based on a National Bank of the Republic of Kazakhstan average KZT/US$
exchange rate during the first quarter ended March 31 2007, (124.9 KZT/US$).