Bank TuranAlem OJSC (Kazakhstan) issued convertible preferred shares for KZT4.3bn

/KASE, Nov 28, 01/ - Bank TuranAlem OJSC (Almaty) provided the KASE with a copy of a state registration certificate and the prospectus of the sixth issue of shares. Based on presented documents, the sixth issue consists of only 426,722 convertible preferred inscribed shares without voting right at KZT10,000 each amounting to KZT4,267,220 th. with the announced authorized capital of KZT17,137,450 th. The preferred shares of the sixth issue were assigned a national identification number KZ1P34920614. The issue was conducted in non-documentary form. The issue has been entered into the State register of the securities under the number A3492-5. Based on the charter of the bank and the issue prospectus the minimum dividends to preferred shares were set at 10.25% APR of the face value, which do not include income tax (net). The state registration certificate reads that when conversion of the preferred inscribed shares without voting rights into common inscribed shares the national identification number, assigned to preferred inscribed shares without the voting rights, will be changed into the national identification number of the common inscribed shares - KZT1C34920013. Based on the decision made at the general shareholders meeting of Bank TuranAlem OJSC on June 11, 2001, preferred shares will be floated privately (among predefined individuals). Following terms of conversion are set in the issue prospectus of the shares. - During conversion one preferred inscribed share should be converted into one common inscribed share. As a result of the conversion total proportion of each holder of the convertible preferred inscribed shares in the paid authorized capital of the bank, who is executing their conversion rights, should be equal to his/her stake in paid authorized capital prior to the conversion, specified in the changes and amendments made to the charter of the bank. - The right to convert convertible preferred shares into common shares is executed by the holders of convertible preferred shares during the period not earlier than May 1, 2002 and not later than May 1, 2006 (conversion period). Each calendar year that is within the conversion period is called a conversion year. - Conversion right can be executed by each holder of convertible preferred shares only once throughout the period he/she holds convertible preferred shares. Written application on the intention of converting the convertible preferred shares into common shares should be sent to the Board of Bank TuranAlem OJSC till May 1 of each conversion year. - After the expiration of the conversion period, if 55% of the issued authorized capital of the bank is not bought by the strategic investor, then the holders of convertible preferred shares can request the bank to buy their convertible preferred shares, and the bank has to buy back the shares at the purchase price, which is set by the charter of the bank. Now, following securities of Bank TuranAlem OJSC are traded within official list of the KASE under category "A": - from September 9, 1999 - common inscribed shares (KZ1C34920412, trade code - BTAS); - from February 19, 2001 - first issue subordinated coupon bonds (KZ2CUY08A320, trade code - BTASb1; $100; $20m; Feb 19.01 - Feb 19.09; semiannual coupon at 12% 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.