The Board of Directors of Capital Hotels JCS (Kazakhtan) decided to apply to AsiaCreditBank JCS for obtaining a loan worth KZT 700.0 million

/IRBIS, October 12, 2011/ - Capital Hotels JCS (Almaty, hereinafter - Company), whose stocks are officially listed at KASE, has provided KASE with the copy of minutes of meeting of the Board of Directors from September 23, 2011. According to the presented document, the Board of Directors has decided the following: - to contact the JSC "AsiaCredit Bank" to obtain a bank loan of KZT700,000,000.0 for a term of 5 years, with a delay of principal for one year to purchase additional fixed assets and loan refinancing of Manas Hotels LLP on bank loan #12/10 of 26 February 2010; - to approve the conclusion between the Company and joint-stock company "AsiaCredit Bank" a contract of pledge of property to ensure the proper performance of obligations under a contract entered into by a bank loan, as well as all liabilities that may arise in the future at a specified contract in the event of any change and/or supplement of its provisions. With the approval of the provision to "AsiaCredit Bank" the right to non-judicial implementation of the pledged property - land area of 0.1460 hectares. [2011-10-12]