18th May 2007 08:30
JSC KazMunaiGas Exploration Prod18 May 2007 JSC KazMunaiGas EP Annual General Meeting Astana, 18 May 2007. JSC KazMunaiGas EP (KMG EP, the Company) today held theAnnual General Meeting of Shareholders. The shareholders of the Company approvedthe financial report for 2006 and the distribution of dividend for the sameyear. The shareholders approved a dividend of 500 tenge per share. The Board ofDirectors recommended that the dividend for 2006 consist of the ordinarydividend amount of 15% of the net profit as well as a special dividendrepresenting distribution of profits deriving from extraordinary items. Thepayment of the special dividend will have no impact on the financing of anyinvestment projects planned by the Company. The total dividend for 2006 amountsto approximately 37bn tenge (approx. US$300m). The dividend for the fiscal year 2006 will be payable to shareholders of recordon 28 May, 2007. Payment of dividend will commence on 2 July 2007. The Company's shareholders were also informed of the following: • The results of review of the written applications made by shareholders to the Company in 2006 • Remuneration of the members of the Board of Directors and the Management Board of the Company • 2006 Annual Report - END - Notes to Editors: KMG EP is the 3rd largest Kazakh oil and gas company with 203.2 mmt (1.5 bn bbl)of proved and probable reserves at the end of 2006 and over 9.5 mmt (192 kbopd) of crude production in 2006. The recent acquisition of 50% of Kazgermunai madeKMG EP the 2nd largest Kazakh oil and gas producer. The Company extractshydrocarbon resources from 44 oil and gas fields located in the Atyrau andMangistau regions in western Kazakhstan and is also engaged in onshoreexploration activities, concentrated in the same areas. The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs arelisted on London Stock Exchange. The Company raised approximately US$2 billionin its IPO in September of 2006. The total number of ordinary shares of theCompany is 70,220,935 of which 43,087,006 or 61.36% are owned by NC KMG. One GDRcorresponds to one sixth of ordinary share. The Company also has 4,136,107preferred shares. For further details please contact us at: KMG EP, Public Relations (+7 317 2 977 908, +7 3172 977 924)Lyazzat KokkozovaE-mail: [email protected] KMG EP, Investor Relations (+7 3172 975433)Alexander GladyshevE-mail: [email protected] WMC Communications Ltd (+44 207 930 9030)Elena Dobson:E-mail: [email protected] Forward-looking statements This document includes statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements can be identifiedby the use of forward-looking terminology, including, but not limited to, theterms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''may'', ''target'', ''will'', or ''should'' or, in each case, their negative orother variations or comparable terminology, or by discussions of strategy,plans, objectives, goals, future events or intentions. These forward-lookingstatements include all matters that are not historical facts. They include, butare not limited to, statements regarding the Company's intentions, beliefs andstatements of current expectations concerning, amongst other things, theCompany's results of operations, financial condition, liquidity, prospects,growth, potential acquisitions, strategies and as to the industries in which theCompany operates. By their nature, forward-looking statements involve risk anduncertainty because they relate to future events and circumstances that may ormay not occur. Forward-looking statements are not guarantees of futureperformance and the actual results of the Company's operations, financialcondition and liquidity and the development of the country and the industries inwhich the Company operates may differ materially from those described in, orsuggested by, the forward-looking statements contained in this document. TheCompany does not intend, and does not assume any obligation, to update or reviseany forward-looking statements or industry information set out in this document,whether as a result of new information, future events or otherwise. The Companydoes not make any representation, warranty or prediction that the resultsanticipated by such forward-looking statements will be achieved. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kazmunaigaz Exploration