/KASE, May 18, 2020/ – Tengri Bank (Almaty), whose securities are officially
listed of the Kazakhstan Stock Exchange (KASE), provided KASE with a press release
dated May 15, 2020, which states as follows:
On May 15, 2020, the Extraordinary General Meeting of shareholders of Tengri Bank
(hereinafter, the Bank) was held in Almaty.
As a result of the meeting, a new Board of Directors of the Bank was elected,
whose members included:
- Pawan Singh, the chairman of the bank's Board,
- Chand Debadatta,
- Srivastava Arun, an independent director,
- Evgeny Seipulnik , an independent director,
- Ulan Bayzhanov.
The powers of Timur Kuanyshev, Yerzhan Shaykenov, Baurzhan Nugymanov and Subhash
Kalia as members of the Board of Directors have been terminated.
The Chairman of the Board Of Directors Pawan Singh thanked the members of the
former Board of Directors for the work done:
"On behalf of the shareholders of the bank and on my own behalf, I would like to
express my gratitude to Timur Kuanyshev, Yerzhan Shaikenov, Baurzhan Nugymanov
and Subhash Kalia for the invaluable contribution they have made to the management
of Tengri Bank's activities and wish them success," he said.
Commenting on his plans for the future, Mr. Singh said:
"The newly elected Board of Directors will strengthen the work to improve
corporate governance, taking into account international experience of its new
members. The Board of Directors will focus on effective restoration of the Bank's
operations, improvement of its sustainability and further work to achieve the
strategic goals of creating an affordable and quality banking service."
We remind that on April 24, 2020, the shareholder of the Bank - Punjab National
Bank decided to provide liquidity and support the Bank's operational activities.
Punjab National Bank intends to further strengthen its position in the Kazakhstan
The decision on the capitalization by the Indian side will be taken based on the
plan to restore the Bank's activities provided by the consulting agency from among
the Big Four firms.
Full version of the press release is available on the KASE website at –