KoZhaN pledges assets worth KZT72.5 bn

/KASE, December 22, 15/ – KoZhaN JSC (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), in an official letter informed KASE of the following: quote On December 14, 2015 the Board of Directors of joint-stock company "KoZhaN" (hereinafter – the Company) took a decision on handover by the Company as pledge in favor of SB "Bank of China in Kazakhstan" JSC movable, immovable assets, vehicles, as well as rights of subsoil use to the amount making five or more percent of the company's assets: Date of pledging assets of the Company – December 15, 2015 Term of pledge – until July 18, 2022 Value of pledged assets – KZT72,459,903,778 (according to Letter of American Appraisal LLP of December 14, 2015 (outgoing No. ААК/465). Date of the most recent appraisal of the pledged assets – June 15, 2015. Percentage ratio of the pledged assets to the total value of the company's assets – 581 %. unquote [2015-12-22]