15th Jan 2009 12:06
15 January 2009
Halyk Bank has reached agreements with Samruk-Kazyna
Joint Stock Company 'Halyk Savings Bank of Kazakhstan' (Halyk Bank) (LSE: HSBK) is pleased to announce that on 15 January 2009 it has reached agreements between the National Wealth Fund Samruk-Kazyna (Samruk-Kazyna), Halyk Bank and Holding Group Almex JSC, Halyk Bank's major shareholder, for realization of the Memorandum of Understanding (MoU) (for more information on the MoU signed on 1 December 2008, please see Halyk Bank's press release dated 11 December 2008).
The parties agreed the main terms of participation of Samruk-Kazyna acting on behalf of the Government of the Republic of Kazakhstan in the equity of Halyk Bank (up to 25% of its total common shares).
Halyk Bank is taking all measures required to ensure that the capital increase is conducted in compliance with the legislation of the Republic of Kazakhstan, including the provision to offer Halyk Bank's existing shareholders and GDR holders the right to buy newly issued shares on a pre-emptive basis, the Listing Rules of Kazakhstan Stock Exchange and London Stock Exchange as well as the terms and conditions of the international agreements signed by Halyk Bank.
The parties also agreed to further coordinate their efforts aimed at supporting the growth of the real sector of Kazakhstan economy and stability of the financial sector of Kazakhstan.
The preliminary step for Samruk-Kazyna's participation in the equity shall be the short-term deposit allocated with Halyk Bank shortly or another financial instrument aimed at strengthening Halyk Bank's position on the market.
About Halyk Bank
Halyk Bank is one of Kazakhstan's leading financial services groups and a leading retail bank with the largest customer base and distribution network among Kazakhstan banks. The Bank is developing as a universal financial group offering a broad range of services (banking, pensions, insurance, leasing, brokerage and asset management) to its retail, small and medium enterprises and corporate customers. Halyk Bank is rated by the three main rating agencies: Moody's Investor Service (Ba1), Fitch Ratings (BB) and Standard&Poor's (BB+). As at 30 September 2008, Halyk Bank had 706 outlets, 1,665 ATMs and 4,114 POS terminals.
For further information please contact:
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Halyk Bank
Zhanara Aikimbayeva Director, International Department Assel Atinova Head, Financial Institutions |
+7 727 259 07 96 +7 727 259 04 30 |
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