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Kazakhstan Kagazy PLC
(“KKPLC” or the “Company”)
Cancellation of admission to the Official List of the UKLA and admission
to trading on the LSE (the “Listing”)

The Company’s Global Depository Receipts (“GDRs”) (ISIN US48667M2035 and US48667M1045) have been suspended from trading on the London Stock Exchange (the “LSE”) since 19 June 2015.

In connection with the Company’s efforts to reduce its ongoing costs, and thereby to facilitate efforts to restructure the outstanding debt of the Company and its subsidiaries, the Company’s Directors intend to cancel the Listing, pursuant to Listing Rule 5.2.8 (the “Delisting”).

It is intended that the Delisting will take place upon the amendment of the Deposit Agreement relating to the GDRs between the Company and The Bank of New York Mellon (“BNYM”) to remove the Company's obligation to maintain a listing of the GDRs. Such amendment requires a 90-day notice period; BNYM will be notifying GDR holders regarding this shortly. Delisting is therefore anticipated to take place by early March 2016.

Effects of the Delisting

Notwithstanding the Delisting, the GDRs will remain in place. The principle effects of the Delisting will be that:

1. GDR-holders will no longer be able to trade GDRs on the LSE;
2. The Company will no longer be obliged to comply with the continuing obligations set out in the Listing Rules and the Disclosure and Transparency Rules, including in relation to disclosure of price sensitive information and periodic financial reporting.

Corporate Governance following Delisting

Following Delisting, the Company will continue to comply with applicable laws and regulations, including the Isle of Man Companies Act 2006, the Takeover Code, and the provisions of the Company’s Articles of Association.

The Company intends to publish annual non-consolidated financial statements, which will be audited in accordance with IFRS standards.

In addition, the Directors intend to maintain an “Investors” section on the Company’s website at www.kazakhstankagazy.com providing information on selected material events and operational updates that may be of interest to GDR holders and shareholders.

Trading of GDRs following delisting

GDRs will remain freely transferable after Delisting, although there will be no listing or quoting of the GDRs on any regulated market. Accordingly, the GDRs may not be readily capable of sale, and the price at which any such sale occurs may not reflect the value of an interest in the Company.

Following the Delisting, the Directors do not, for the foreseeable future, intend to apply to admit the GDRs to trading and/or listing on an alternative stock exchange. GDR holders should discuss any potential transaction with their stockbroker or financial adviser.

The Directors are considering putting in a place a lower cost trading facility via a matched-bargain platform and will provide an update in due course.