Kazakh BTA Bank’s main shareholders plans to buy its common shares
Baku, Azerbaijan, July 30
By Elena Kosolapova- Trend:
Kazakh Kazkommertsbank and Mr. Kenesh Rakishev plan to buy common shares issued by BTA Bank from other shareholders, Kazkommertsbank reported.
Kazkommertsbank and Mr. Kenesh Rakishev extended an offer to the shareholders of BTA Bank to sell common shares issued by the bank at the price of 0.24162 tenge (183.53 tenge =$1) per one common share.
Kazkommertsbank owns 298,295,649,240 (46.5 percent) of common shares of BTA Bank and has 27,351,461,050 (4.26 percent) of its common shares under trust management, and Mr. Kenesh Rakishev owns 298,295,649,240 (46.5 percent) of common shares of BTA Bank.
The Buy Back Acceptance Notice should be made in compliance with the required form available at the web-site of the BTA Bank (www.bta.kz), and must be submitted to the Bank.
The notices shall be submitted to the head office of the bank or to its branch offices by 18:00 Almaty time on 28 August 2014. If the notice is submitted in a sealed envelope it should be signed with "Consent to sell the Shares" inscription. The bank may refuse to accept the notices that do not have all required information or are not delivered prior to the deadline.
The shareholder selling the shares should submit an order on write-down of the shares and putting them to Kazkommertsbank's and/or Mr. Rakishev's account to the Unified Securities Registrar, and pay all fees within two days from submission of the notice to the bank. If the shareholder fails to submit the order within the indicated period, the shareholder's application for buyback will be considered as withdrawn by the shareholder.
The order form is available at the web-site of BTA Bank (www.bta.kz ) and at the website of the Unified Securities Registrar (www.tisr.kz). The hard-copy of the order form is available in the head office or in the branch offices of BTA Bank.
Payment on bought back shares will be made within 30 calendar days from the date of the notice provided.
Each shareholder bears sole responsibility for timely receipt of consents, approvals, payment of fees, commissions and taxes and other actions required to sell the shares, including submission to the USR the required documents and information for the transaction.
All payments by Kazkommertsbank to holders who are non-residents of the Republic of Kazakhstan will be subject to taxation in accordance with Kazakh Tax Code.
Holders of GDRs with the Bank's common shares being the basic asset have equal right to participate in this offer together with other shareholders of the bank. To participate the GDR holders should apply to The Bank of New York Mellon via email: [email protected] Payment to the GDR holders shall be made via the Depository in U.S. dollars at the exchange rate of Kazakh National Bank at the payment date.
The buyback procedure will be conducted in accordance with Kazakhstan's legislation.
Edited by C.N.