KASE, November 3, 14/ – KAZAKHMYS PLС (London), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided to KASE the following press-release of October 31, 2014:

quote

Kazakhmys PLC (the "Company") announces that all conditions to the Share Transfer Agreement have been satisfied. As a result, the restructuring first announced on 27 February 2014 and approved by Independent Shareholders on 15 August 2014 is now complete.

Following completion, the Company retains mining and processing assets in the East Region of Kazakhstan and the Bozymchak mine in Kyrgyzstan, as well as the major growth projects Bozshakol, Aktogay and Koksay. The Company’s subsidiaries owning mature assets in the Zhezkazgan and Central Regions of Kazakhstan have been transferred to Cuprum Holding.

The Company will be renamed "KAZ Minerals PLC" with effect from registration of the change of name, which is expected to become effective later today, whilst the assets transferred to Cuprum Holding will continue to operate under the trading name of "Kazakhmys".

As described in the circular to shareholders dated 23 July 2014, Eduard Ogay is stepping down from the Board with immediate effect in order to take up his position as chief executive officer of Cuprum Holding and will no longer be a Director of the Company or employee of the Group. Andrew Southam, Chief Financial Officer, will join the Board as an executive Director of KAZ Minerals PLC with effect from 1 November 2014.

unquoted

The full press-release is available on KASE website at:

• see more – in Russian;
• see more – in English.

[2014-11-03]