/KASE, March 26, 10/ - ATFBank (Almaty), a representative of holders of
infrastructure bonds KZ2CKY23B672 (KASE, 'buffer category', DTJLb1;
KZT1,000, KZT30.0 bn; 02.08.05 - 02.08.28, annual coupon indexed to inflation
rate, 8.85 % APR as for the current coupon period, 30/360) of Doszhan temir
zholy (DTZ) (Almaty), sent to Kazakhstan Stock Exchange (KASE) letter dated
March 25, 2010 No. 06.03/1888, informing, the Agency of the Republic of
Kazakhstan on regulation and supervision of financial market and financial
organizations (FSA) filed a suit with the Almaty special economical court urging
Doszhan temir zholy (DTZ) to redeem 8,566,890 of the bonds on the secondary
market with subsequent blocking thereof at the issuer account for accounting of
redeemed securities, and blocking 6,110 of the bonds placed at re-issue account
of Doszhan temir zholy (DTZ).
According to the ATFBank "the requirement of the Agency is reasoned due to an
incompliance of the amount of issued infrastructure bonds with the amount
guaranteed by the state. On January 21, 2010 the Almaty special economical
court approved the claim of the Agency".
According to ATFBank on March 19, 2010 a court of second instance considered
an appeal of DTZ, insisting on gradual partial redemption of the bonds. In this
regard ATFBank, being a witness for this case, "suggested bondholders of the
company present their views in written form on bond redemption methods: one-
time or gradual and possible affects on bondholders in case of either of
redemption methods".
ATFBank's letter is released at the KASE website at
http://www.kase.kz/files/mix/dtjl_letter_250310.pdf
The bonds were issued by DTZ to receive funding for the project "Construction
and operation of new railway "Shar - Ust-Kamenogorsk".
Related documents are available at:
- KASE news dated February 24, 2010 "ATFBank provides explanations of
Doszhan temir zholy (DTZ) (Kazakhstan) on steps to redeem debt on bonds
KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1096760
- KASE news released November 23, 2009 "ATFBank informs on steps to
protect interests of bondholders KZ2CKY23B672 (DTJLb1) of Doszhan temir
zholy (DTZ) (Kazakhstan)" -
http://www.kase.kz/en/news/show/1089275
- KASE news released October 2, 2009 "ATFBank informs on steps to avoid
default of Doszhan temir zholy (DTZ) (Kazakhstan) to pay 4th coupon on
bonds KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1084864
- KASE news posted August 19, 2009 "DTZ (Kazakhstan) delays payment of
4th coupon on bonds KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1081230
KASE reminds in accordance with the internal document "Rules on Release of
Exchange Information" it does not assume responsibility for accuracy of the
information it spreads in regard of KASE members and issuers listed on KASE, if
such information is based on messages and documents, received from such
members and issuers in pursuance with their obligations before the Exchange. At
generation of such information KASE does not check accuracy of the messages
and documents. The person, willing to disprove the information released in this
message, must address to KASE with a corresponding official letter.
[2010-03-26]