/KASE, June 1, 10/ - VITA (Almaty) informed Kazakhstan Stock Exchange
(KASE) the company delayed payment of the eighth coupon interest on tenge to
dollar devaluation indexed bonds KZ2CKY07B964 (VITAb5; KZT1,000,
KZT6.0 bn, 18.05.06 - 18.05.13; semiannual coupon indexed to inflation rate,
8.50 % APR as for the reporting coupon period; 30/360).
According to the bond prospectus VITA had to pay the interest in the period
May 18 - 31, 2010. The Prospectus specifies "should the Company at its own
fault fail to pay coupon interest or the principal timely, the Company shall pay
fine for each day of delay, calculated on the basis of the official refinance rate
set by the Kazakhstan National Bank as on the day of compliance with money
obligations or a part thereof".
VITA (the Company) informed:
Quotation begins
Currently the Company has KZT306,083,572 outstanding debt on coupon
interest on bonds KZ2CKY07B964 due May 18, 2010 through May 31, 2010.
At the time being the Company is in talks with bondholders seeking to postpone
the coupon payment for the ninth coupon period.
On the basis of the mentioned above and taking into account financial standings
of the Company, the order and terms of the debt payment will be agreed with
bondholders.
Ends
Currently twelve companies listed on KASE informed of insolvency to fully or
partially comply with obligations on their bonds. The list of listing companies,
that admitted default on bonds, is available at the KASE website at section
"Issuers" ("default") at
http://www.kase.kz/en/emitters
KASE reminds in accordance with the internal document "Rules on Release of
Exchange Information" it does not assume responsibility for accuracy of the
information it spreads in regard of KASE members and issuers listed on KASE, if
such information is based on messages and documents, received from such
members and issuers in pursuance with their obligations before the Exchange. At
generation of such information KASE does not check accuracy of the messages
and documents. The person, willing to disprove the information released in this
message, must address to KASE with a corresponding official letter
[2010-06-01]