Kazakh KazMunaiGas Exploration Production replaces depositary

Astana, Kazakhstan, Jan. 27

By Daniar Mukhtarov - Trend:

Deutsche Bank Trust Company Americas will replace The Bank of New York Mellon (formerly The Bank of New York) as a depositary for Kazakh 'KazMunaiGas Exploration Production' company's programme for issuance of global depositary receipts (GDRs), according to a message from the company.

The programme was established pursuant to a deposit agreement dated October 4, 2006, concluded between the KazMunaiGas Exploration Production and the Outgoing Depositary, the company said.

The new depositary's appointment as depositary under the Deposit Agreement for the GDR programme was effective from January 24, 2014, according to the message.

The custodian under the GDR programme appointed by the outgoing depositary JSC Kazkommertsbank, shall also be replaced by SB HSBC Bank Kazakhstan JSC, and took effect from January 24, 2014.

The depositary was incorporated on March 5, 1903, as a bank with limited liability in the State of New York and operates under the laws of New York and is an indirect wholly-owned subsidiary of Deutsche Bank AG, a German global banking and financial services company, according to the message.

The new depositary is a state registered New York banking corporation and a member of the U.S. Federal Reserve System, subject to regulation and supervision principally by the U.S. Federal Reserve Board, the Federal Deposit Insurance Corporation and the New York State Banking Department.

The new custodian is SB HSBC Bank Kazakhstan JSC, a bank organised under the laws of Kazakhstan, duly licensed by the Committee of the National Bank of Kazakhstan on Control and Supervision of the Financial Market and Financial Organisations to carry out custodial activity with its principal office located at 43 Dostyk Avenue, Almaty, 050040, Kazakhstan.

GDR holders do not need to take any action in connection with this notice, according to the message.

Certified or conformed copies of the Deposit Agreement shall be available to holders for inspection during normal business hours on any business day at the specified offices of the new depositary and any agent and at the main office of the new custodian.

Translated by E.A.

Edited by S.M.

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