Zhyluenergiya OJSC (Kazakhstan) pays dividends for preference shares in the amount of 20% and intends to issue bonds amounting to KZT400.0m

/KASE, May 8.02/ - Zhyluenergiya OJSC (Aktobe), Whose shares are admitted into category B of the official listing provided KASE with a annual protocol copy of the General shareholders meeting which was held on March 28 2002. In comparison with the meeting adopted agenda Zhyluenergiya OJSC shareholders confirmed the annual financial statement for 2001, the report of the governing body and a conclusion of inspection commission and also made the following decisions: - to pay dividends on preference shares on the basis of 20% of face value per one share; register fixing date of shareholders' who have a right for receiving dividends, to make the date of February 28 2002, the date of beginning paying off April 1 2002. - to confirm net income distribution in the order offered by the governing body of the company; - to issue indexed coupon bonds in the amount of KZT400.0m, in the amount of 4,000 bonds with the face value of KZT100,000; with one year of circulation and the coupon rate of 12%APR. Director of the company (President) Nokin S.V. presented the activity report for 2001 in on behalf of the Zhyluenergiya OJSC governing body. It is noticed in the report that company's balance sheet comprises 17 boiler-rooms, 9 pumping stations, 194.5km of mail and distributing heat networks. In 2001 the company kept a great work on major repairs of heat networks, prepared for exploitation 8 pumping stations and 9 boiler-rooms, made an inspection repairing of 79 elevator hubs and 9.1 km of heat networks.KZT128.6m were spent for major repairs. As of Jan 01, 2002 accounts receivables totaled KZT1.8b including: debts of individuals - KZT741m, debts of local and republican budgets amounted KZT16.7m. Accounts payable increased by 14.5% and equaled KZT1.4bn. Cash inflows equaled KZT3.7bn including loans - KZT1.1bn, subsidies - KZT774.1m. Net income totaled KZT835.5m. Number of employees was at 640; Average wage - KZT25,203, productivity - 2,340 th. per employee. As of Jan 01, 2001 a new company, Transenergo OJSC was created by allotment from parent entity. Major activity of the company: production, transmission and sale of heating energy and water supply. [2002-05-08]