Halyk Savings Bank Exercised Its Option Right on Common Shares
OREANDA-NEWS. April 14, 2011. The joint-stock company "Halyk Savings Bank of Kazakhstan" (hereinafter – the Bank) informs its shareholders that in accordance with the terms of the Option Agreement regarding the Bank made between JSC "Holding Group "ALMEX" (hereinafter - "Almex"), the Bank's main shareholder, and JSC "Samruk-Kazyna" dated January 15, 2009 (hereinafter - the Option Agreement), the Bank exercised its right to purchase own common shares, reported the press-centre of KASE.
Following the exercise of the Option, the Bank bought out 213,000,000 common shares of the Bank from JSC Samruk-Kazyna (hereinafter - Samruk-Kazyna) on the unorganized stock market. Apart from that, Almex has acquired 46,064,909 common shares of the Bank.
Exercising the Option is one of many proofs for the Bank's achievements which became possible thanks to government support and close co-operation during the implementation of projects of republican importance in the economy's real sector, development of the country's infrastructure, support for small and medium-sized businesses. With significant performance records, the Bank has in the meantime successfully completed measures aimed at the buy-out of common shares at a price which ensures return on funds Samruk-Kazyna had put into the Bank's equity. The experience acquired through successful and mutually beneficial co-operation between the Bank and Samruk-Kazyna clearly indicates that the Bank is firm to continue this interaction while implementing government-designed programmes fostering further growth of Kazakhstan's economy and its people's welfare.
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