MAG Explained Changes & Additions, Included in Bonds Issue Prospect
OREANDA-NEWS. July 18, 2008. As informed earlier MAG JSC (Almaty), being the listing company of Kazakhstan Stock Exchange (KASE), provided KASE with changes and additions in KZ2C0Y03C130 (MAG_b1) bonds issue prospect, according to which, reported the press-centre of KASE:
- term of bonds circulation was prolonged from August 22, 2009 to May 5, 2011;
- date of bonds maturity is May 5, 2011;
- Registrator Zerde JSC (Almaty) is the company's registrar;
- bondholders are provided with option on bonds selling in amount, that they possessed at the date of register; this right is effective after 3 years since the start date of bonds circulation and to the date of bonds maturity; the price of bonds purchase is calculated from bonds face value and accumulated coupon interest as for the date of payments.
Due to included changes and additions, the company reregistered the mentioned bonds issue. The copy of certificate of Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) on state reregistration of bonds issue, dated May 13, 2008#C13 was provided to KASE. According to certificate, NIN of mentioned securities was changed from KZ2C0Y03C130 to KZ2C0Y05C135.
Having examined provided documents, KASE staff came to conclusion that corrected KZ2C0Y05C135 bonds issue prospect contains internal contradictions, which must be eliminated.
To corresponding exchange's inquiry, dated July 15, 2008, MAG JSC provided explanations on payments method of last coupon interest on mentioned bonds. According to explanations, calculation of coupon interest amount on KZ2C0Y05C135 bonds as of maturity date will be made based on the number of acute circulation days, i.e. for the period from February 22 to May 4, 2011.
Besides, MAG JSC assured KASE that the company plans to sell the documents to Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) for including corresponding changes and additions to the terms of bonds issue prospect in the part of last coupon interest rate calculation with the purpose of elimination, found by KASE, contradictions.
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