Kazakhmys to give an opportunity to its former minority shareholders to exchange shares of the corporation for shares of Kazakhmys Plc

/INTERFAX-KAZAKHSTAN, Almaty, March 30, 07/ - The copper corporation Kazakhmys will give an opportunity to its minority shareholders to exchange their shares for shares of Kazakhmys Plc. "We want so that all who had not understood before what it was necessary to do with shares of Kazakhmys, could have the second chance to exchange these shares for shares of Plc and could have free access to selling them in London and in Kazakhstan on the stock exchange," the chief executive director of the company Kazakhmys Plc Oleg Novachuk said on Friday at the press conference in the press center of Interfax-Kazakhstan agency in Almaty. "We will recommend either to exchange these shares for shares of Plc, or to sell them under market terms," he said. At that, Oleg Novachuk stressed,"we do not want to put restraint on someone, oppositely, all minorities will be treated equally to big shareholders". As it is known, before 2005 the corporation Kazakhmys existed in a form of JSC. After creating the company Kazakhmys Plc, registered in London to bring shares of Kazakhmys to international market, the corporation was reorganized into Corporation Kazakhmys LLP. The company offered in late 2005 on London stock exchange 26.2% its shares and borrowed 661 m pounds. O. Novachuk claimed some items to be 'unfair" accusations, made by some minorities of that the corporation poorly informed shareholders of the course of creation of Kazakhmys Plc and the way minorities must have operated in connection with that. "I consider that complaints made by minorities are unreasonable, who claimed that during IPO the leadership of the company did not perform well informing all shareholders, and there was someone who did not understand that it was necessary to exchange shares, and that the company will be listing in London. However, we accepted critics of minorities, and received approval in London to maintain exchange of shares," he commented. By data of O. Novachuk, question on exchange of shares will be additionally submitted to consideration at the shareholders meeting on April 13. Corporation Kazakhmys specializes on production of refined copper and copper raw stuffs, and merges Zhezkazgan copper-smelting plant (the former Zhezkazgantsvetmet JSC), Balkhash minin and smelting enterprise, Zheskent MSE, Easter-Kazakhstan copper-chemical enterprise and other objects. [2007-03-30]