KAZEXPORTASTYK Holding says rehabilitation procedure was applied to company

/KASE, May 22, 14/ – KAZEXPORTASTYK Holding JSC (Astana, hereinafter – the Company), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE on the following: quote ... in accordance with May 11, 2014 decision of Astana Special inter-district economic court, the Company undergoes a rehabilitation procedure. In this regard, the Company as of the date of the court decision has to count with consequences provided for in article 68 of the Act of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy". In particular: 1. The Company is prohibited from making deals in property outside of customary commercial operations without their agreeing with the temporary administrator; 2. Calculation of fine (forfeit, penalties) on all types of the Company's debts, as well as interest on loans received is stopped; 3. Proceeding of decisions of courts, arbitrary courts, tax authorities, as well as owners of the Company's property (its authorized bodies), partners (participants) with regard to its property, except for payouts to citizens, to whom the debtor has liability for damage to life or health without taking into account claims to compensate moral damage, whose payment term occurred after applying the rehabilitation procedure, is suspended; 4. Taxes and other mandatory payments to the state budget calculated by the Company accor5ding to tax accounts, calculated by the tax body based on results of tax checks, following the tax period in which the rehabilitation procedure was applied, are paid. unquote [2014-05-22]