Halyk Bank of Kazakhstan shareholders decided to use 2001 net income to reserve capital and not to pay dividends to common shares

/IRBIS, March 27, 02/ - Today PR service of Halyk Bank of Kazakhstan OJSC (Almaty) distributed a press-release on the results of annual general shareholders meeting which was held on March 27, 2001 in Almaty. The meeting registration counted 71 shareholders or their legal representatives, which own 52,365,989 shares of the bank (96.57% of all voting shares). The following topics were entered into the agenda: approval of 2001 annual financial statements, distribution of the bank's net income, approval of the valuation method of the shares bought back by Halyk Bank of Kazakhstan OSJC and the buy back order, change in the Board of directors. The meeting approved 2001 financial statements and the majority of votes were given to use KZT233m net income of Halyk Bank of Kazakhstan OJSC received in 2001 to reserve capital, and not to pay dividends to common shares. The Board of the bank decided to help the individual shareholders. They will be paid a allowance of KZT10 per share from April 11 of this year. This amount will be regarded as current expenses of the bank. At the meeting the decision was made to add another member to the Board of directors: Nurjan Matakov, who is a financial director of Firma Almex LLP (Almaty, as of Jan 31, 02 this firm had 9.96% of paid authorized capital of the bank). The chairman of the Board of directors is Anvar Saidenov from January 29, 2002. It is said that as of March 6, 2002 the number of Halyk Bank of Kazakhstan OJSC shareholders was 35,089, total number of shares - 54,225,999. By the results of independent auditing report of Deloitte & Touche on the basis of 2001 financial statement of the bank, the assets equaled KZT129.990bn, equity - KZT8.054bn, income - KZT233m. By the information of the bank, as of March 25, 2002 the assets equaled KZT139.895bn, income - KZT590.585m. [2002-03-27]