/IRBIS, September 12, 2011/ - An extraordinary general meeting of shareholders of JSC "Kazkommertsbank" adopted today a series of decisions by the bank, reports the press service of the bank.

As indicated, to fill the vacant position of Board member - the representative of the interests of the shareholders the meeting of shareholders changed the status of active member of the Board of Directors Yerzhanov Mukhtar Saltaevich, who in 2008 joined the Board of Directors as an independent director. To change the specified shareholders have decided to terminate the authority of Mr. Yerzhanov as an independent director and to elect him as the representative of a shareholder of the bank - JSC "Central Asian Investment Company". On the resulting vacant position member of the Board of Directors - independent director Serik Akhanov was elected by shareholders. As noted, Mr. Akhanov is not a shareholder of the bank and over the past 5 years had not been affiliated with the bank face. Matching a new member of the Board of Directors with the regulator will be implemented in the manner and terms established by law.

So, as a result of the changes the Board of Directors is constituted as follows:

• Shareholders and representatives of shareholders: N.S. Subhanberdin (the Chairman of the Board of Directors), N.A. Zhussupova (Chairman of the Board), Bosgimorukian A.P., M.S. Yerzhanov;
• Independent directors: G. Bayski, S.V. Shibayev, S.A. Akhanov

However, at an extraordinary meeting of shareholders, among other issues shareholders raised the bank's capital reserve by 6,239,677 thousand Tenge at the expense of undistributed net income of past years and set it in the amount of 56,257,125 thousand Tenge.

"In this case, since the reserve capital and retained earnings of previous years are included in shareholders' equity, the increase in capital reserve is not reflected in the total amount of own capital. The shareholders also approved amendments to the # 1 method for determining the value of the shares at their purchase of JSC "Kazkommertsbank" and set the remuneration of individual members of the Board of Directors of the bank", - was stated in the message.

[2011-09-12]