/KASE, April 28, 10/ - EKOTON+ (Astana) informed Kazakhstan Stock
Exchange (KASE) by the official letter on delay of the seventh coupon interest
payment on bonds KZ2C0405C218 (KASE official list Non-rated Debt Securities
second subcategory, EKTNb1; KZT100, KZT1.0 bn; October 16, 06 - October
16, 11, the semi-annual coupon 10.00 % APR; 30/360).
According to these bonds issue prospectus EKOTON+ was to pay this interest on
April 16-29, 2010. The prospectus specifies that "in case of default on payment
or incomplete payment at fault of the Issuer of coupon interest and/or the
principal in the terms set with the Prospectus, the Issuer shall pay bondholders
fines for each day of delay, on the basis of the official refunding rate of the
National Bank of the Republic of Kazakhstan as of the day of money obligation or
its part fulfillment".
In the letter EKOTON+ informed that:
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Hereby we inform that at present joint stock company EKOTON+ does not have
enough funds to repay obligations on the coupon interest payment on
infrastructural bonds for the seventh coupon period due on April 16, 2010.
Based on the above stated and considering the issuer difficulties, the order and
terms of repayment will be defined later.
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At present thirteen companies, securities of which are present in KASE official
list, informed on inability to fully or partially fulfill their obligations on
bonds. Listed companies defaulted payment on bonds is available on KASE website in
section "Issuers" ("default") at address
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.
[2010-04-28]