KAZAKHMYS PLС (United Kingdom) announced reduction of its Board of Directors Chairman holding of 58,876,793 common shares GB00B0HZPV38 (GB_KZMS) on KASE
05.10.10 17:16
/KASE, October 5, 10/ - KAZAKHMYS PLС (London), common shares of which
are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE
the following press-release of October 5, 2010:
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Kazakhmys PLC (the "Company" or "Kazakhmys") announces that its Chairman,
Vladimir Kim, has sold an interest in 58,876,793 ordinary 20p shares
(representing approximately 11% of the shares in issue). The transaction was
executed on the Kazakhstan Stock Exchange at 3,363 KZT per share, based on a
closing mid-market share price of 1,423 pence per share, as derived from the
Official List of the London Stock Exchange, on 4 October 2010. The shares were
purchased by National Welfare Fund Samruk-Kazyna JSC ("Samruk-Kazyna").
Mr Kim's interest in the Company is now 149,306,795 ordinary shares
(representing 27.9% of the shares in issue). The interest of the Government of
Kazakhstan has increased to 139,162,843 ordinary shares (representing 26.0% of
the shares in issue), including The State Property & Privatisation Committee's*
existing 15.0% interest.
The transaction enables Mr Kim to diversify his investment portfolio whilst
retaining a significant long-term shareholding in Kazakhmys. The transaction
represents the first disposal of Kazakhmys shares by Mr Kim since the
Company's IPO on the London Stock Exchange in 2005. Mr Kim continues to be
Chairman of Kazakhmys and remains firmly committed to his role leading
Kazakhmys in delivering its strategic objectives. The Government of
Kazakhstan's increased shareholding in Kazakhmys, through Samruk-Kazyna,
demonstrates a positive commitment by the Kazakh sovereign wealth fund to a
strategically important company within Kazakhstan.
Mr Kim has undertaken to the Company not to sell any further interest in
Kazakhmys shares for 12 months following this announcement, save for up to
21,409,614 ordinary shares (currently representing 4.0% of the shares in issue)
which he has agreed to make available to facilitate the provision of liquidity
for a possible secondary listing on the Hong Kong Stock Exchange in 2011.
For details, please contact:
Group Kazakhmys
John Smelt, Head of Corporate relations
tel: +44 20 7901 7882
Irin Burton, financial analyst
tel: +44 20 7901 7814
Zulfira Mukhamediyarova, senior manager for media relations
tel: +77 27 266 3317Merlin
David Symonson tel: +44 20 7726 8400
Tom Randall tel: +44 20 7726 8400
Leonid Fink tel: +44 20 7726 8400
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[2010-10-05]