ARA RFCA reimburses Imstalkon for audit fees

/KASE, April 11, 11/ - Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city (ARA RFCA) has provided KASE with the following press-release: quote Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city (ARA RFCA) in accordance with sub-item 8, article 6 of the Act of the Republic of Kazakhstan dated June 5, 2006 "On the Regional Financial Centre of Almaty" has reimbursed expenses to the amount of KZT16,956,000 the JSC Imstalcon incurred in the financial year 2007. Bonds of Imstalcon were included into the official list of the special trading floor of the Regional Financial Center of Almaty (STF RFCA) as securities of the first sub- category of the "Non-Rated Debt Securities" category on August 4, 2009 (following a decision of Kazakhstan Stock Exchange (KASE) Listing Commission dated July 31, 2009). The company's main activities include manufacturing of metal structures for factories and civil buildings, special structures (pillars, towers, bridges, cooling towers), vessels operating under pressure, railway tanks, reservoirs for water, chemicals, oil and oil products of any volume etc. Audit fee reimbursement is possible for issuers who place their financial instruments on the special trading floor of the financial center and have not conducted audit of their financial statements according to international standards before. This government service is rendered in accordance with the Rules of Audit Fees Reimbursement for Issuers of Financial Instruments Admitted to the Special Trading Floor of the Regional Financial Center of Almaty, approved by resolution # 523 of the government of the Republic of Kazakhstan. Audit fee reimbursement to issuers is made beginning from February 1 of the year following the year a request is filed, within the budget funds provided to the Agency for the relevant year, to the amount not exceeding the amount equivalent to 12,000 (twelve thousand) monthly calculation indices. Audit fees are reimbursed only once. Consideration time for documents - 15 working days. The service is free of charge. It should be noted that in the World Economic Forum's Financial Development Index Kazakhstan took the 1st rank regarding the "Minimum expenses on IPO" parameter. unquote [2011-04-11]