KAP announces voting results of 2025 AGM
AIX: KAP, KAP.Y (GDR)
LSE: KAP (GDR)
27 May 2025, Astana, Kazakhstan
Voting Results of the Annual General Meeting of Shareholders
National Atomic Company "Kazatomprom" JSC ("Kazatomprom" or "the Company") announces the voting results on each issue of the agenda of the Annual General Meeting of Shareholders ("the AGM") which took place on 27 May 2025 at 10:30 am local time (GMT+5) at the following address: floor 3, 17/12 Syganak Street, Nura district, Astana, Z05T1X3, Republic of Kazakhstan.
At the time of the AGM, the total number of outstanding shares equaled to 259,356,608. According to the shareholder register and information on the owners of shares in nominal holding as of 25 April 2025, the total number of voting shares of the Company amounted to 253,396,598. Shareholders and their authorized representatives holding 223,108,728 shares (representing 88.05% of the total number of voting shares) submitted their votes.
Shareholders voted on each issue of the AGM agenda and respective decisions were made.
|
Resolution |
Votes For |
% |
Votes Against |
% |
Withheld |
% |
|
|
1.1. Election of the Chairman of the Annual General Meeting of Shareholders of Kazatomprom. |
221,564,103 |
99.31% |
0 |
- |
1,544,625 |
0.69% |
|
|
1.2. Election of the Secretary of the Annual General Meeting of Shareholders of Kazatomprom. |
170 |
96.05% |
0 |
- |
7 |
3.95% |
|
|
2. Determining the form of voting of the Annual General Meeting of Shareholders of Kazatomprom. |
221,580,570 |
99.32% |
0 |
- |
1,528,158 |
0.68% |
|
|
3. Approval of the agenda of the Annual General Meeting of Shareholders of Kazatomprom. |
221,580,570 |
99.32% |
0 |
- |
1,528,158 |
0.68% |
|
|
4. Approval of the audited annual financial statements of NAC Kazatomprom JSC (consolidated and separate) for 2024. |
221,580,570 |
99.32% |
0 |
- |
1,528,158 |
0.68% |
|
|
5. Approval of the procedure for the distribution of consolidated net income for 2024, making a decision on the payment of dividends on ordinary shares and approval of the amount of the dividend per one ordinary share. |
221,249,909 |
99.17% |
288,497 |
0.13% |
1,570,322 |
0.70% |
|
|
6. Information on shareholders' appeals regarding the actions of NAC Kazatomprom JSC and its officials in 2024 and the results of their consideration. |
221,580,570 |
99.32% |
0 |
- |
1,528,158 |
0.68% |
|
|
7. Information on the amount and composition of the remuneration of the members of the Board of Directors and the Management Board of NAC Kazatomprom JSC. |
221,564,103 |
99.31% |
0 |
- |
1,544,625 |
0.69% |
|
|
8. Approval of amendments to the Dividend Policy of NAC Kazatomprom JSC. |
221,008,456 |
99.06% |
555,647 |
0.25% |
1,544,625 |
0.69% |
|
|
9. On the composition of the Board of Directors of NAC Kazatomprom JSC. |
221,564,103 |
99.31% |
0 |
- |
1,544,625 |
0.69% |
|
|
10. On the composition and the term of office of the Counting Commission of NAC Kazatomprom JSC. |
214,898,718 |
96.32% |
6,557,610 |
2.94% |
1,652,400 |
0.74% |
|
Payment of dividends based on 2024 results
Based on the audited financial results for 2024, the shareholders approved the dividend per one ordinary share (one GDR equals to one ordinary share) payable for 2024 in the amount of KZT 1,264.12. The total dividend amount is approximately KZT 327.9 billion, which corresponds to 75% of free cash flow in accordance with the Company's dividend policy effective as of the decision date.
The dividend payment will commence on 17 July 2025 to shareholders registered in the Company's shareholder register as of 16 July 2025, 00:00 local time (GMT+5).
Amendments to Kazatomprom Dividend Policy
The AGM approved amendments to the Company's dividend policy in terms of revising the approach to calculating consolidated free cash flow (FCF), which serves as the basis for determining dividend payments to the Company's shareholders. The revision mainly relates to excluding cash flows attributable to non-controlling interests and taking into account proceeds from investment activities, specifically the disposal of assets and dividends received by the Company's subsidiaries from their associated and jointly controlled entities.
As previously disclosed, these changes are required due to events that occurred in Kazatomprom's group of companies, which increased the non-controlling interest in FCF. The introduction of these changes to the dividend policy will bring the amount of dividends paid in line with the cash inflows directly attributable to the shareholders of the Company.
The amended FCF calculation formula will be applied when determining the amount of dividends to be distributed based on the results of 2025 and beyond. The amount of dividends to be paid for the year 2024 was determined by shareholders based on the previous dividend policy.
Composition of the Board of Directors
The AGM terminated the powers of Mr. Yernat Berdigulov, a member of Kazatomprom's Board of Directors and a representative of the interests of Samruk-Kazyna JSC, who previously held the position of Managing Director for Strategy and Asset Management of Samruk-Kazyna JSC. Mrs. Saltanat Satzhan was elected to the Company's Board of Directors as a new representative of Samruk-Kazyna interests (for the whole term of office of Kazatomprom Board of Directors). Saltanat Satzhan currently holds the position of Managing Director for Development and Privatization - Member of the Management Board of Samruk-Kazyna JSC.
Kazatomprom's Board of Directors is currently composed as follows:
· Arman Argingazin - independent director, Chairman of the Board of Directors;
· Armanbay Zhubayev - independent director;
· Nodir Sidikov - independent director;
· Aidar Ryskulov - representative of the interests of Samruk-Kazyna JSC;
· Yelzhas Otynshiyev - representative of the interests of Samruk-Kazyna JSC;
· Saltanat Satzhan - representative of the interests of Samruk-Kazyna JSC;
· Meirzhan Yussupov - Chief Executive Officer of NAC Kazatomprom JSC.
For more information, please contact:
Annual General Meeting of Shareholders Inquiries
Aigerim Dosanova, Corporate Secretary
Tel.: +7 7172 45 82 84
Email: adosanova@kazatomprom.kz
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel.: +7 7172 45 81 80/69
Email: ir@kazatomprom.kz
Public Relations and Media Inquiries
Altynay Karibzhanova, Chief expert, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
A copy of this announcement is available at www.kazatomprom.kz.
About Kazatomprom
Kazatomprom is the world's largest producer of uranium with the Company's attributable production representing approximately 21% of global primary uranium production in 2024. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 27 deposits grouped into 14 mining assets. All of the Company's mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. Kazatomprom is the national atomic company in the Republic of Kazakhstan. The Group's primary customers are operators of nuclear generation capacity, the principal export markets for the Group's products are Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
Forward-looking statements
All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "will," "can have," "likely," "should," "would," "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future.
THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN.
The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.
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