Announcement of results of the tender offer
10 August 2017
Kazkommertsbank Joint Stock Company
On 10 July 2017 Halyk Savings Bank of Kazakhstan Joint Stock Company (“Halyk Bank”) launched a mandatory tender offer to purchase any and all of Kazkommertsbank Joint Stock Company’s (the “Company”) outstanding common shares, preference shares, and extended such tender offer to the global depositary receipts representing such common shares (“Ordinary GDRs”) and global depositary shares representing such preference shares (“Preference GDRs”, together with the Ordinary GDRs, the “GDRs”) upon the terms and subject to the conditions set forth in a tender offer memorandum dated 10 July 2017 (the “Tender Offer Memorandum”).
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.
The Company hereby informs the GDR Holders that Halyk Bank has accepted for purchase the validly tendered GDRs at the relevant Purchase Price as set forth in the table below:
||Number of GDRs
||Purchase Price per GDR (US$)
||Total Purchase Price (US$)
|Regulation S Ordinary GDRs
|Regulation S Preference GDRs
On or prior to 14 August 2017, Halyk Bank will remit the aggregate Purchase Price in U.S. dollars, converted from KZT at the Exchange Rate, to the Tender Agent. On the Settlement Date, and upon receipt of the Purchase Price, the Tender Agent will transfer the Purchase Price to the Clearing Systems in accordance with the terms of the Tender Offer Memorandum for further distribution to GDR Holders whose GDRs have been accepted for purchase in the Tender Offer, net of any taxes and other government charges. The relevant Purchase Price, subject to any taxes and other government charges, shall be paid to tendering GDR Holders through the procedures of the relevant Clearing System.
The exchange rate used for calculation of the Purchase Price in U.S. dollars (being the KZT to US$ exchange rate of the National Bank of Kazakhstan effective at the close of business on 9 August 2017) is KZT332.19 per US$1.
The Tender Offer has now expired and no further GDRs can be tendered for purchase.
Further details about the Tender Offer can be obtained from the Tender Agent:
The Bank of New York Mellon
For further information please contact:
Asel Mukazhanova, Financial Institutions/Investor Relations
Tel: + 7 727 258-51-25
Larissa Kokovinets, Corporate Communications Service
+7 727 258-54-56