OREANDA-NEWS. National Company KazMunaiGas (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release:

JSC National Company KazMunayGas ("NC KMG") has written to the independent non-executive directors of JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") ("EP INEDs") informing them of its intention to increase the offer to purchase Common Shares and Preferred Shares of KMG EP listed on the Kazakhstan Stock Exchange and GDRs of KMG EP listed on the London Stock Exchange (the "Purchase Offer") if the proposals set out in its circular to shareholders of KMG EP dated 17 June (the "Original Circular") are passed at the general meeting of shareholders of KMG EP ("EGM") on 3 August 2016.

Specifically, NC KMG intends to increase the consideration for the Purchase Offer from $7.88 per GDR to $9.00 per GDR and equivalent increases to $54.00 per Common Share in KZT equivalent calculated on a daily basis, and $31.55 per Preferred Share in KZT equivalent calculated on a daily basis. All other terms and conditions applicable to the Purchase Offer remain as described in the Original Circular.