KASE says terms of Exchange interested party transaction concluded changed
/KASE, March 16, 16/ – On March 5, 2016 the Board of Directors of Kazakhstan
Stock Exchange JSC (KASE, or the Exchange) (Minutes No. 7 of March 5, 2016
meeting) approved a change in the terms of a transaction with Qazaq Banki JSC,
namely, the bank deposit "ALL EXCLUSIVE" agreement of November 18, 2015
in terms of increasing the interest rate on the deposit from 13.00 % to 14.00 %
APR in the period from February 26 to May 18, 2016, as the Exchange's related
Taking into account the said change, we inform you of the following:
1. Date of the decision to conclude the transaction made by the joint-stock
company's body: March 5, 2016 (decision of the Board of Directors, Minutes
No. 7 of March 5, 2016 meeting).
2. Value of the transaction's underlying assets: KZT500,000,000.
3. Date of the most recent underlying assets appraisal: not applicable.
4. Percentage ratio of the transaction's underlying assets value to the total
assets value: 5.98 %.
5. Main substantial terms of the deal:
- bank deposit term – 12 months;
- bank deposit interest rate – 14.00 % APR;
- terms of accrual and payment of interest on the bank deposit –
calculated monthly, paid – upon expiry of the bank deposit agreement
6. Date of the transaction: March 14, 2016.
Qazaq Banki JSC in accordance with item 3 of article 40 of the Act of Republic
of Kazakhstan "On banks and baking operations in the Republic of Kazakhstan" is
the Exchange's related party.