Kazakhtelecom (Kazakhstan) announces decisions of May 31, 2011 annual general shareholders meeting

/KASE, June 9, 11/ - Kazakhtelecom (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of June 8, 2011: quote Kazakhtelecom announces own shareholders on outcomes of the Annual General Shareholders Meeting held on May 31, 2011. With regard to agenda issue #1 "About approval of Y2010 audited consolidated financial statements of Kazakhtelecom prepared in accordance with IFRS" In accordance with sub-item 7), item 1, article 36 of the Act of the Republic of Kazakhstan "On Joint-Stock Companies" and sub-item 9), item 1, article 29 of Kazakhtelecom's Charter, the Annual General Meeting of Kazakhtelecom's Shareholders has decided: To approve the Y2010 audited consolidated financial statements of Kazakhtelecom prepared in accordance with IFRS. Taking a decision on this issue requires a simple majority of votes of shareholders taking part in the meeting. The voting brought an unambiguous decision. With regard to agenda issue #2 "About the procedure of distribution of Kazakhtelecom's Y2010 net income, pay-out of dividends on common stocks and approval of dividend amount per common share" In accordance with sub-item 8), item 1, article 36 of the Act of the Republic of Kazakhstan "On Joint-Stock Companies" and sub-item 10), item 1, article 29 of Kazakhtelecom's Charter, the Annual General Meeting of Kazakhtelecom's Shareholders has decided: 1. To approve the following procedure of distribution of Kazakhtelecom's Y2010 net income of KZT34,219,652,000 (thirty four billion two hundred nineteen million six hundred fifty two thousand): - to pay 17.5 % of the consolidated net income totaling to KZT5,988,432,991 (five billion nine hundred eighty eight million four hundred thirty two thousand nine hundred and ninety one) as dividends due for 2010; - to retain the rest of the consolidated net income totaling to KZT28,231,219,008.90 (twenty eight billion two hundred thirty one million two hundred nineteen thousand and eight tenge 90 (ninety) tyiyn) at Kazakhtelecom's disposal"; 2. to fix the amount of dividends per Kazakhtelecom's common share due for 2010 at KZT528.73 (five hundred twenty eight tenge 73 tyiyn per common share; 3. to set the beginning date for pay-out of dividend on Kazakhtelecom's common shares at June 30, 2011; 4. to fix the procedure of pay-out of dividends on Kazakhtelecom's common shares - two equal payments in a month; 5. to fix the form of pay-out of dividends on Kazakhtelecom's common shares - in cash, by money transfer to shareholders' accounts. Taking a decision on this issue requires a qualified majority of votes of the total number of voting shares, in accordance with item 2, article 29 of Kazakhtelecom's Charter. The decision was taken based on a qualified majority of votes of the total number of voting shares. With regard to agenda issue #3 "About considering Kazakhtelecom shareholders' appeals over actions of the Company and its officers in 2010" Due to no facts of Kazakhtelecom shareholders' appeals over actions of the Company and its officers in 2010, this information has been taken note of, with no voting required. With regard to agenda issue #4 "About appointing Ernst & Young the auditor of Kazakhtelecom's Y2011 audited annual consolidated financial statements" In accordance with sub-item 6), item 1, article 36 of the Act of the Republic of Kazakhstan "On Joint-Stock Companies" and sub-item 8), item 1, article 29 of Kazakhtelecom's Charter, the Annual General Meeting of Kazakhtelecom's Shareholders has decided: Based on a tender conducted, to appoint Ernst & Young the auditor of Kazakhtelecom's Y2011 audited annual consolidated financial statements". Taking a decision on this issue requires a simple majority of votes of shareholders taking part in the meeting. The voting brought an unambiguous decision. PR Service Kazakhtelecom unquote [2011-06-09]