1st Aug 2008 08:23
PRESS - RELEASE
Extraordinary General Meeting of Shareholders of JSC KazMunaiGas Exploration Production will take place on 24 September, 2008.
Astana, 1 August 2008. JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") will hold an Extraordinary General Meeting ("EGM") on 24 September 2008, as decided at the Company's Board of Directors meeting on 31 July, 2008. The EGM Agenda will include the appointment of the Company's external auditor for the 2008 fiscal year and approval of the changes to the Company Charter, clarifying the authority of the KMG EP's Board of Directors and the Management Board in relation to the Company's risk management and treasury policies. The EGM scheduled earlier this month to consider these issues was declared void due to the lack of quorum.
The forthcoming EGM Agenda will also include a proposal by the Company's major shareholder, National Company KazMunaiGas ("NC KMG"), to consider changes to the representatives of NC KMG on the Board of Directors. The EGM materials will be posted on the Company's website www.kmgep.kz
At the Board of Directors meeting on 31 July, 2008 a number of additional business matters were also reviewed.
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Notes to Editors
KMG EP is the second largest Kazakh oil producer with over 10.6 mmt (215 kbopd) of crude oil production in 2007 including shares in production of Kazgermunai and CCEL, and 240 mmt (1.8bn bbl) of proved and probable reserves at the end of 2007 (over 2 bn bbl including interests in Kazgermunai and CCEL). The Company's shares are listed on the Kazakh Stock Exchange and the GDRs are listed on the London Stock Exchange. The Company raised over US$2bn as a result of its IPO in September of 2006.
For additional information please contact:
KMG EP Public Relations (+7 7172 977924, +7 7172 977927)
Ms Zukhra Sultanova
Email: [email protected]
KMG EP Investor Relations (+7 7172 975433)
Mr Alexander Gladyshev
Email: [email protected]
Pelham PR (+44 203 178 44 18)
Mrs Elena Dobson
Email: [email protected]
Future related announcements/ statement
This document contains announcement that are, or may be deemed to be "future related announcements". These announcements can be identified by the use of future related terminology, including, but not limited to, the terms "believes", "anticipates", "estimates", "intends", "plans", "sets", "will" or"should" or, in each case, by their matching or comparable terms, or by references to the discussions, plans, objectives, goals, prospective events or intentions. These specified announcements include all the matters that are not historical facts. These include and are not limited to, the announcements related to the Company's intentions, beliefs, and statements of current expectations concerning, amongst other things, the Company's expectations on operation results, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and the industries in which the Company operates. Naturally, the future related announcements bear a risk and uncertainty, since they are related to future events and circumstances, which may or may not occur. These announcements are not guarantees of the Company's future performance and the actual results of its operations, its liquidity and financial condition; and the development of the country and the industries in which the Company operates may differ from those described in, or suggested by, the future related announcements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any future related announcement or industry information set out in this document, whether as a result of new information, future developments or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such future related announcements will be achieved.
Related Shares:
Kazmunaigaz Exploration