Alliance Bank omits 2013 dividend payout on preferred shares

/KASE, June 6, 14/ – Alliance Bank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release: quote Hereby Alliance Bank (hereinafter – the Bank) notifies you that according to the audited consolidated financial statements of the Bank prepared in compliance with the IFRS, for the year ending December 31, 2013 and approved on the Annual General Meeting of the Bank's Shareholders on May 29, 2014 the capital shortage made up KZT75.085 mln, the loss made up KZT84.848 mln. According to article 22 of the Act of the Republic of Kazakhstan "On Joint-Stock Companies" of May 13, 2003 does not allow calculation and accordingly payout of dividends of the joint-stock company at a negative amount of equity, or, if the equity becomes negative following calculation of dividends on its shares. Accordingly, no dividends will be paid out on preferred shares of the Bank for 2013 financial year. Also, we inform you that the Bank currently conducts respective measures to solve the issue of negative equity of the Bank. For details please contact: Investor relations tel. +7 (727) 258 40 40 (ext. 52034) E-mail: IR@alb.kz Website: www.alb.kz unquote [2014-06-06]