Bonds KZ2CKY05B950 (TSSMb1) of Transstroymost (Kazakhstan) de-listed from KASE September 29, 2009
/KASE, September 29, 09/ - The Listing Commission of Kazakhstan Stock
Exchange (KASE) beginning September 29, 2009 de-listed bonds
KZ2CKY05B950 (TSSMb1; KZT100, KZT5.0 bn; 06.04.06 - 06.04.11,
semiannual coupon indexed to inflation rate, 11.20 % APR as for the current
coupon period) of Transstroymost (Almaty oblast).
The KASE opinion dated September 21, 2009 said in April 2009 Transstroymost
defaulted on interest payment of the sixth coupon on the bonds. Besides, the
issuer failed to present to KASE within ten business days following the date of
receipt of corresponding written notification, the plan to remove grounds that
had caused default and redemption of debt in payment of the interest as
specified in item 13-5 of resolution of the Board of the Agency of the Republic
of Kazakhstan on Regulation and Supervision of Financial Market and Financial
Organizations "On requirements to issuers and securities, admissible (admitted)
to circulation on the stock exchange, and to individual categories of the stock
exchange" dated May 26, 2008 No. 77.
The opinion as well says Transstroymost does not comply with information
disclosure requirements set by the Listing rules and Agreement on listing of
serial corporate securities dated March 2006, concluded between Transstroymost
In connection with the mentioned above and according to sub-item 2) of item 13-
16 of the resolution and through systemic non-compliance (five times during
twelve consecutive calendar months) of Transstroymost with requirements of
item 1 of Appendix 2 to the Listing rules, item 1 article 25 of the Listing
rules, items 6, 7 and 8 of the mentioned agreement and in compliance with
sub-item 8) of item 1 of article 20 and item 4 of article 30 of the Listing
rules the bonds were de-listed.
Bonds of Transstroymost were listed on KASE in category "A" beginning
April 6, 2006, beginning September 1, 2008 transferred to the first subcategory
of Non-rated debt securities. Trade therein was opened April 7, 2006.
During the circulation on KASE bonds' yield to maturity for buyer (on deals
concluded at open trade) varied from 1.00 through 120.36 % APR.