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Update on GDR Ratio Change
KAZAKHSTAN KAGAZY PLC
(the "Company")
Update on GDR Ratio Change
Kazakhstan Kagazy PLC (KAG LI) provides an update on the change in the ratio of the Company's Global Depositary Receipts (“GDR”) program (“Ratio Change”), as announced on 5th August 2015.
The Ratio Change is effective as of today, 21 August 2015 and the new GDRs will be admitted to the Official List on 24th August 2015.
As previously announced, for every 10 GDRs held by a Depositary Receipt holder, they will receive 1 new GDR in return.
Old Ratio - 1 GDR equal 1 ordinary share
New Ratio - 1 GDR equals 10 ordinary shares
There were previously a total of 37,031,635 GDRs in issue, comprising of 3,278,950 144A GDRs (ISIN: US48667M1045) and 33,752,685 REGS GDRs (ISIN: US48667M2035).
Following the Ratio Change, there will be 3,703,163 GDRs in issue, comprising of 327,895 144A GDRs (ISIN: US48667M3025) and 3,375,268 REGS GDRs (ISIN: US48667M4015).
The issued number of Ordinary Shares and their nominal value will be unchanged.
GDR Holders have been contacted by the GDR depository, The Bank of New York Mellon (“BNYM”), to confirm any actions necessary to effect the Ratio Change. Only whole GDRs will be distributed. BNYM will attempt to sell any fractional GDRs and distribute the cash proceeds to GDR holders.
Enquiries:
Kazakhstan Kagazy PLC
Hugh McGregor
General Counsel and Company Secretary
+7 (727) 244 87 87
Daniel Stewart & Company PLC
David Coffman / Liz Kirchner (Financial Adviser) / Martin Lampshire (Broker)
Tel +44 (0) 20 7776 6550
About Kazakhstan Kagazy PLC
London Stock Exchange listed Kazakhstan Kagazy PLC is the largest paper, packaging and recycling group in Kazakhstan and Central Asia.