/KASE, November 14, 14/ – Alliance Bank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-release of November 17, 2014:
quote
JSC Alliance Bank (the "Bank") is pleased to announce the results of the
adjourned meetings of holders of its notes (the "Noteholders' Meetings") held on
14 November 2014 in respect of the restructuring of certain of the Bank's
financial indebtedness.
At the Noteholders' Meetings, holders of the Bank's Discount Dollar Notes due
2017,Discount Tenge Notes due 2017, Par Dollar Notes due 2020 and the Recovery
Notes due 2020approved the relevant Extraordinary Resolutions by majorities of
97.13 per cent., 100.00 per cent.,99.23 per cent. and 99.01 per cent. of the
votes cast, respectively, thereby authorising the Trustee to vote the entire
outstanding principal amount of such securities plus interest accrued but unpaid
through to 25 March 2014, and to vote the RN IFRS Value (as defined in the
Information Memorandum dated 13 October 2014) in the case of the Recovery
Notes, in favour of the Bank's Restructuring Plan at the Claimants' Meeting to
be held on 19 November 2014 in Almaty.
The proposed Extraordinary Resolution was not passed at the meeting of holders
of the Subordinated Tenge B Notes due 2030. However, 34.69 per cent. of the
votes submitted by holders of the Bank's Subordinated Tenge B Notes due 2030
expressed their support for the Restructuring Plan. Votes in favour of, and
against, the Extraordinary Resolution submitted by holders of the Bank's
Subordinated Tenge B Notes due 2030 will be voted in favour of, or against, the
Restructuring Plan at the Claimants' Meeting.
The meeting of holders of the Bank's Par Tenge Notes due 2020 was inquorate
as no votes were submitted in respect of the proposed Extraordinary Resolution.
The next step in the approval process will be the Bank's Claimants' Meeting,
which will take place on 19 November 2014 at 10:00 a.m.(Almaty time).
unquote
The full press-release is available on KASE website at
http://www.kase.kz/files/emitters/ASBN/asbn_reliz_171114.pdf.
[2014-11-18]