NAC Kazatomprom signs physical uranium fund investment agreement

23.11.21 17:11
/KASE, November 23, 2021/ – NAC Kazatomprom (Nur-Sultan), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated November 23, 2021: quote National Atomic Company Kazatomprom JSC ("Kazatomprom" or "the Company") has now formally signed the framework agreement with Genchi Global Limited for the Company’s investment in the physical uranium fund "ANU Energy OEIC Ltd." ("ANU Energy" or "the Fund"), registered on Astana International Financial Center (“AIFC”), and the Fund will begin operations. Mazhit Sharipov, Chief Executive Officer of Kazatomprom and Ali Ashraf, Director of Genchi Global Limited attended the signing ceremony. Additional guests included Almassadam Satkaliyev, CEO of Samruk-Kazyna JSC, Kairat Kelimbetov, AIFC Governor, and Galymzhan Tajiyakov, CEO of National Investment Corporation of the National Bank of Kazakhstan JSC. The framework agreement defines the terms of Kazatomprom's investment and mechanisms for the supply of uranium products from Kazatomprom to the Fund, as a key supplier. The document also provides a number of mechanisms regarding the lock-up period and price threshold after which the Fund could be able to sell certain amounts of uranium to the market, with Kazatomprom having a priority right to repurchase any uranium the Fund decided to sell. The primary purpose of the conditions is to maintain the future balance of supply and demand in the market. unquote The complete press release is available on KASE website – https://kase.kz/files/emitters/KZAP/kzap_reliz_231121_1.pdf [2021-11-23]