Centras Securities announces Kazakhstan Kagazy's delay in payment of eighth coupon on bonds KZ2C0Y20D116 (KZ2C00000255, KKAGb4)

/KASE, March 19, 15/ – Centras Securities JSC (Almaty), being a representative of holders of bonds KZ2C0Y20D116 (KZ2C00000255, KASE official list, category "other debt securities", KKAGb4) of Kazakhstan Kagazy JSC (Almaty region), officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter of March 16, 2015 informed KASE of the following: quote Hereby Centras Securities (hereinafter – the Representative) based on the Agreement on providing services of a representative of bondholders dated January 3, 2013 concluded between Centras Securities and Kazakhstan Kagazy JSC (hereinafter – the Issuer), announces of the Issuer having committed technical default on coupon bonds NIN KZ2COY20D116 (KKAGb4). According to a letter No. 40 from the Issuer dated March 16, 2015 Kazakhstan Kagazy JSC announces partial failure to pay coupon interest on coupon bonds NIN KZ2COY20D116 (KKAGb4) to the amount of KZT63,974,508.76 for the eight coupon period by March 12, 2015 and undertakes to pay coupon interest on those bonds by the end of March of 2015. According to the Issue prospectus of the second bond issue Section 7, item 38, sub-item 6 in case of a non-payment, or incomplete payment due to the Issuer of coupon interest and/or face value of bonds, including the amount of accumulated coupon interest at their redemption, the Issuer undertakes to pay bondholders the principal amount and accumulated coupon, as well as fine for every day of delay. Satisfying requests of the bondholder in case of default is carried out in accordance with Kazakhstan's legislation. In this regard the Representative informs you of taking measures as part of functions of the representative of bondholders on informing bondholders and authorized body on occurrence of default on bonds NIN KZ2COY20D116 (KKAGb4) and emergence of rights of early redemption for bondholders. As part of measures implemented the Representative prepared and sent appropriate letters to bondholders, trades operator, sent a request to the Issuer on provision of actions plan to remove the technical default and provision of a power of attorney for request of the registry of bondholders in the name of the Issuer, as well as we will collect requests from bondholders wishing to exercise the right of early redemption of coupon bonds. unquote [2015-03-19]