/KASE, January 11, 2012/ - JSC "Alliance Bank" (Almaty), whose bonds are
officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release of January 10, 2012:
quote
Alliance Bank JSC (the "Bank") would like to inform that according to its Charter,
the dividend per preference share of KZT 100 (one hundred) is payable during the
first 10 (ten) business days upon the end of a financial year. The total number of
issued and outstanding preference shares is 2,619,626.
At the same time, according to the article 22 of the Law on Joint-Stock
Companies (the "Law") of the Republic of Kazakhstan ("RK") No. 415 dated 13
May 1993, the accrual and, respectively, the payment of dividends are prohibited,
if a company's shareholders' equity is negative or becomes negative as a result of
such accrual or if a company meets the criteria for insolvency or bankruptcy in
accordance with the laws on bankruptcy of RK or if a company acquires said
criteria as a result of such an accrual.
Therefore, the payment of dividends under the preference shares of the Bank for
2011 shall be made, subject to the following:
1. the Bank has positive shareholders' equity as of 31.12.2011 confirmed by
audited annual financial statements under the International Financial Reporting
Standards (IFRS);
2. the Bank's shareholders' equity would not become negative as of 31.12.2011,
as a result of accrual of dividends under the preference shares, confirmed by
the audited annual financial statements under IFRS;
3. the Bank would not acquire, as a result of accrual of dividends under the
preference shares, the criteria for insolvency or bankruptcy in accordance with
the laws on bankruptcy of RK.
unquote
The full-press release is available on KASE website, at:
-
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_100112.pdf - in Russian;
-
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_100112_e.pdf - in English.
[2012-01-11]