OREANDA-NEWS. May 19, 2010. ATFBank (Almaty), a representative of holders of infrastructure bonds KZ2CKY23B672 (KASE, 'buffer category', DTJLb1; KZT1,000, KZT30.0 bn; 02.08.05 - 02.08.28, annual coupon indexed to inflation rate, 8.85 % APR as for the current coupon period, 30/360) of Doszhan temir zholy (DTZ) (Almaty), sent to Kazakhstan Stock Exchange (KASE) letter dated May 17, 2010 No. 06.03/2626 with attachment of a copy of an appealing resolution of the Almaty court dated April 7, 2010 No. 2а-1118/10, reported the press-centre of KASE. 

The Almaty-based court ruled:

The Court ruled to change the decision of the Almaty special economical court of January 21, 2010 and cancel the decision in part of imposing on Doszhan temir zholy (DTZ) liability to redeem 8,566,890 infrastructure bonds (NIN K22CKY23B672) on the secondary market with consequent blocking thereof at the issuer account for purposes of accounting of securities redeemed before maturity, with a new decision to be made.

The Court ruled to dismiss the claim of FSA to DTZ on compulsory redemption of infrastructure bonds of DTZ with consequent blocking of redeemed securities at the issuer account.

The Court ruled to reduce the state fees imposed on DTZ payable to the state down to KZT707 (seven hundred and seven) tenge.

The rest of the decision will remain unchanged.

The Court ruled to grant the appeal of DTZ.

The appellate resolution may be complained within 15 days after the delivery of a resolution copy through submission of cassational appeal or protest to cassational court commission of the Almaty city court.

A copy of the resolution is released at the KASE website at
http://www.kase.kz/files/mix/dtjl_afn_sud_10_04_07.pdf

The bonds were issued by Doszhan temir zholy (DTZ) to raise funds for project "Construction and operation of railway Shar - Ust-Kamenogorsk".