Kazkommertsbank and its main shareholders signed package of documents with ?SamrukKazyna? Fund

ALMATY. January 15. KAZINFORM /Zhazira Dzhanabayeva/ Today Kazkommertsbank and its main shareholders have signed a package of documents with ?SamrukKazyna? National Welfare Fund on realization of the Memorandum of mutual understanding as of Dec 9, 2008 reflecting main provisions of participation of the Bank in stabilization measures on support of small and medium business financing, Kazinform correspondent reports.

The document was signed by ?SamrukKazyna? National Welfare Fund JSC (the Fund), Kazkommertsbank and its main shareholders including ?Central Asian Investment Company? JSC (CAIC), «Alnair Capital Holding» JSC and Mr. N. S. Subkhanberdin, holder of 69.89% of the common shares of the bank. The package of documents includes: an Agreement on realization, regulation of the order and terms of participation of the Fund in the Bank?s stock capital; an Agreement among shareholders on interaction of the shareholders and the Bank during the period of the Fund?s participation in the stock capital; an Optional Agreement regulating order and terms of the Fund?s withdraw from the Bank?s capital. The total volume of the means provided by ?SamrukKazyna? to the Bank will comprise no less than USD 300 mln. Placement of the shares will be carried out in full compliance with the current legislation of the Republic of Kazakhstan, listing requirements of the Kazakhstan and London Stock Exchanges. The share of ?SamrukKazyna? should make 25% of the total number of placed common shares of the Bank. Current large shareholders of the Bank (CAIC, Alnair, N.S. Subkhanberdin) will preserve control over the Bank. The Fund will not interfere in operative activity of Kazkommertsbank.