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Kazakhstan Kagazy (KAG)

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Friday 13 November, 2009

Kazakhstan Kagazy

KAZAKHSTAN KAGAZY ENTERS INTO RESTRUCTURING DIS...

KAZAKHSTAN KAGAZY ENTERS INTO RESTRUCTURING DISCUSSIONS WITH ITS LENDERS

Kazakhstan Kagazy

FOR IMMEDIATE RELEASE 13 November, 2009

KAZAKHSTAN KAGAZY ENTERS INTO RESTRUCTURING DISCUSSIONS WITH ITS LENDERS

Kazakhstan Kagazy plc (the “Company”, and together with its subsidiaries, the “Group”) has begun constructive discussions with the Group’s lenders regarding the restructuring of the Group’s loan facilities. It is the Company’s intention that by 31 January 2010 it will have agreed a restructuring plan with the Group’s lenders which will provide a firm basis for the Group to operate in the future.

To assist the Company in its restructuring plan the Board has appointed SP Angel Corporate Finance LLP to act as financial adviser.

The Board notes that if a restructuring plan is not agreed with the Group’s lenders, the ongoing prospects of the Group will be uncertain.

A further announcement will be made in due course.

Enquiries

   

Kazakhstan Kagazy

Alessandro Manghi +7 727 244 8787

Chairman

 

 

SP Angel Corporate Finance LLP

John Mackay +44 20 7647 9650

David Facey

Bruce Fraser