/KASE, August 7, 09/ - BURLINGAZSTROI (Almaty) informed Kazakhstan Stock
Exchange (KASE) by the official letter on delay of the fourth coupon interest
payment on its bonds KZ2C0Y05C556 (KASE official list Non-rated Debt
Securities second subcategory, BGSTb1; KZT1,000, KZT3.0 bn; August 1, 07 -
August 1, 12, the semi-annual coupon 10.00 % APR; 30/360).
According to the mentioned bonds issue prospectus BURLINGAZSTROI must
have been paid the interest in the period from August 1-14, 2009. The issue
prospectus stipulates that "in case of non-payment or incomplete payment by the
issuer of any amount of an interest and/or a principal debt in compliance with
this Prospectus terms, an Issuer must pay to this issue bonds holders a fine for
each day of delay, accrued based on the official refunding rate of the National
Bank of the Republic of Kazakhstan on the day of the monetary obligations
fulfillment or its corresponding part".
In the letter BURLINGAZSTROI informed that:
quotation start
Due to the delay by a subcontractor of works within signed contracts and advance
payment BURLINGAZSTROI can not pay the coupon in time.
The company will be able top pay the coupon on bonds only after August 20,
2009.
BURLINGAZSTROI makes an apology to bonds KZ2C0Y05C556 holders for the
next coupon payment delay.
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At present twelve companies, securities of which are present in KASE official
list, informed on inability to fully or partially fulfill their obligations on
bonds. The lust of listed companies that defaulted on their bonds, is available on
KASE website in section "Issuers" ("default") at
http://www.kase.kz/en/emitters
KASE reminds that in compliance with the Exchange internal document "Rules of
Exchange Information Dissemination", KASE is not responsible for authenticity of
disseminated information on the Exchange members and securities issuers,
admitted to circulation on the Exchange, if this information is based on messages
and documents received by the Exchange from these members and securities
issuers in pursuance of their obligations to the Exchange. KASE does not validate
the mentioned messages and documents when developing this information.
Individuals, willing to refute the information, published in this message, must
apply to KASE by a corresponding official letter.
[2009-08-07]