/KASE, January 31, 2020/ – National Atomic Company Kazatomprom (Nur-Sultan),
whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated January 30, 2020:
quote
JSC National Atomic Company "Kazatomprom" ("Kazatomprom" or "the Company")
announces its intention to sell its 50% interest (minus one (1) share) in the
Uranium Enrichment Center JSC ("UEC") to its partner in the joint venture, TVEL
Fuel Company ("TVEL"), for RUB6.253 billion (approximately US$100 million). The
value of the Company's interest in UEC is based on an independent fair market
valuation carried out by a major global advisory firm. Kazatomprom is planning
to retain one (1) share in UEC, which will preserve the Company's rights to
access uranium enrichment services under the conditions previously agreed upon
with TVEL.
UEC is a joint Kazakhstan-Russian enterprise established in 2006 as part of the
implementation of the Comprehensive Program of Kazakhstan-Russia Cooperation in
the Peaceful Use of Atomic Energy. It owns 25% (plus 1 share) of the Ural
Electrochemical Integrated Plant JSC in Novouralsk, Sverdlovsk region of Russia.
UEC was the first company with foreign-ownership to have an interest in a Russian
uranium enrichment facility.
unquote
The press release is posted on the KASE website at –
http://kase.kz/files/emitters/KZAP/kzap_reliz_310120_2.pdf
[2020-01-31]