/KASE, April 23, 09/ - ISKE SAT COMPANY (Almaty) informed Kazakhstan
Stock Exchange (KASE) on delay in payment of the fourth coupon interest on
bonds KZ2C0Y07C321 (KASE official list, the second subcategory of the Non-
rated debt securities category, ISKEb1; KZT1,000, KZT1.0 bn.; 15.12.06 -
15.12.13, semiannual coupon 10.00 % APR; 30/360).
According to the prospectus of issue of the bonds ISKE SAT COMPANY had to
pay the interest in the period December 15 through December 24, 2008. The
prospectus specifies "in case of non-payment or incomplete payment of the
interest (coupon) and/or the main debt in the terms specified in this
prospectus, the Issuer shall pay to bondholders of the issue fine for each day
of delay, on the basis of official refinance rate of the National Bank of
Kazakhstan as for the day of non-compliance with money obligations or its part,
but not more than 10 % of unpaid sum".
In the letter ISKE SAT COMPANY informed of the following:
Quotation beginning
Herewith ISKE SAT COMPANY informs on impossibility to timely comply with its
obligations on coupon payment before April 20, 2009. We notify you on extension
of coupon payment term through May 20, 2009, as we are expecting financial
infusions from shareholders.
Quotation end
Related links:
- KASE news dated March 16, 2009 "ISKE SAT COMPANY (Kazakhstan)
informs on delay in payment of 4th coupon on bonds KZ2C0Y07C321
(ISKEb1) till April 20, 2009" -
http://www.kase.kz/news/show/1069095
- KASE news dated February 20, 2009 "ISKE SAT COMPANY (Kazakhstan)
intends to repay debt on payment of 4th coupon on bonds KZ2C0Y07C321
(ISKEb1) before March 15. 2009" -
http://www.kase.kz/news/show/1067372
- KASE news dated January 30, 2009 "ISKE SAT COMPANY (Kazakhstan)
intends to repay debt on payment of 4th coupon to holders of
KZ2C0Y07C321 (ISKEb1) before February 20, 2009" -
http://www.kase.kz/news/show/1069106
- KASE news dated December 26, 2008 "ISKE SAT COMPANY (Kazakhstan)
defaults on obligations before bondholders of KZ2C0Y07C321 (ISKEb1) on
payment of 4th coupon" -
http://www.kase.kz/news/show/1063368
Currently eleven companies, securities of which are listed on KASE, informed
on insolvency to fully or partially comply with obligations on their bonds. The
list of companies that defaulted on bonds is available at the KASE website in
section "Issuers" ("default") at:
http://www.kase.kz/en/emitters
KASE reminds that in compliance with the Exchange internal document "Rules of
Exchange Information Dissemination", KASE is not responsible for authenticity of
disseminated information on the Exchange members and securities issuers,
admitted to circulation on the Exchange, if this information is based on
messages and documents received by the Exchange from these members and
securities issuers in pursuance of their obligations to the Exchange. KASE does
not validate the mentioned messages and documents when developing this
information. Individuals, willing to refute the information, published in this
message, must apply to KASE by a corresponding official letter.
[2009-04-23]