Bank TuranAlem OJSC (Kazakhstan) plans to increase authorized capital by KZT4.1 bn and issue covertable preferred shares

/KASE, Oct 5, 01/ - Bank TuranAlem OJSC (Almaty) provided the KASE with a copy of the minutes of annual general shareholders meeting which was held on June 11, 2001. Based on approved agenda the shareholders of Bank TuranAlem OJSC approved the report of the Board, annual financial statements for the year 2000 and reports of Supervision commission and auditor on these statements and norms for the year 2001, as well as made following decisions: - increase authorized capital by KZT4.1 bn; - issue inscribed convertible preferred shares in non-documentary form without voting rights with minimum dividends of 10.25% APR at KZT10.0 th. each amounting to 410,000 shares for a total of KZT4.1 bn; pay dividends once a year; float the shares privately (among a known number of individuals); set that one preferred share can be converted into one common share; - make changes and amendments to the charter of the bank regarding the increase in announced authorized capital and issue of convertible preferred shares; - not to pay dividends for the year 2000; - satisfy the application of Suankulov E.K. to dismiss him from the Board of directors. At the meeting the shareholders also approved the attraction of a loan for up to $100.0m from TuranAlem Finance B.V. (subsidiary registered in Rotterdam, Netherlands) with the possibility of further change of the loan agreement into the issue of international bonds for the same amount. Now, following securities of Bank TuranAlem OJSC circulate within official list of the KASE under category "A": - from September9, 1999 - common inscribed shares (KZ1C34920412, trade code - BTAS); - from February 19, 2001 - first issue coupon bonds (KZ2CUY08A320, trade code - BTASb1; $100; $20m; Feb 19.01 - Feb 19.09; semiannual coupon at 12% APR, current market return - 11.50% APR); - from July 19, 2001 - euronotes (XS0131688227, trade code - BTASe1; $100m; June 28.01 - June 28.04; semiannual coupon at 11.5% APR) issued by a subsidiary TuranAlem Finance B.V. (Rotterdam, Netherlands) under 100% guarantee of the bank.