/KASE, October 2, 07/ - KAZAKHMYS PLC company (London) common
shares of which are traded in Kazakhstan stock exchange's (KASE) category
"A" official list provided KASE with a press-release in which the following is
announced:
Beginning of citation
Kazakhmys PLC announces about holding the prescheduled general
meeting of shareholders in order to approve the purchase of 18.8%-stake in
ENRC PLC.
- The prescheduled general meeting of shareholders will take place on
October 19 of 2007 with the goal that the independent shareholders of
Kazakhmys can vote for the use of the option on purchasing 18.8%-
stake in ENRC Group;
- So that an approval from the side of Government of Kazakhstan would
be received that would allow Kazakhmys becoming the direct owner of
18.8% of ENRC PLC's shares;
- The purchase depends on approval from the side of independent
shareholders of Kazakhmys and on normative approval from
Government of Kazakhstan;
- The price of the purchase will total USD806.5 m. in accordance to the
terms of contract about the right for purchase of stake in ENRC;
- The independent directors of Kazakhmys unanimously recommend that
the shareholders vote in favor of this deal;
- Today, the brochures describing the details of the Purchase and a
notification about the special general shareholders' meeting will be sent
to the shareholders of Kazakhmys PLC.
Kazakhmys PLC company (further Kazakhmys or Company) has announced
today that in accordance with its notification dated September 4 of 2007, and
after the approval of Government of Kazakhstan would have been received,
the prescheduled general meeting of shareholders will take place with the
goal that the independent shareholders of Kazakhmys could vote on the
proposed purchase of the direct 18.8%-stake in Eurasian Natural Resources
Corporation PLC (ENRC) from the juridical person whose the only owner is
the Chairman of Kazakhmys Board of directors, Mr. Vladimir Kim.
The purchase depends on approval from the side of independent
shareholders of Kazakhmys on the prescheduled general meeting of
shareholders and on normative approval from Government of Kazakhstan
due to the indirect change in the right of ownership regarding the rights on
subsurface use.
The ENRC Group is a large diversified mining and natural resources group
with significant, high quality assets in Kazakhstan. The Independent
Directors consider the investment key to Kazakhmys' long-term strategy of
seeking to acquire interests in existing regional natural resources businesses
with attractive internal and external growth prospects and its execution will
bring significant benefits to Kazakhmys and its shareholders.
James Rutland, Senior Independent Non-executive Director of Kazakhmys
said, "The Independent Directors are unanimous in believing that this
transaction will create value for shareholders and consider that it will be in
the best interests of the shareholders as a whole to vote in favour of this
transaction on the upcoming prescheduled general meeting of
shareholders."
Quotation end
The full version of KAZAKHMYS PLC press-release is available at:
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_021007.pdf
in Russian;
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_021007e.pdf
in English
[2007-10-02]