Tengri Bank shareholders elected new Board of Directors of the bank

18.05.20, 13:01
/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: quote 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 market. 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. unquote Full version of the press release is available on the KASE website at – https://kase.kz/files/emitters/DNBN/dnbn_reliz_150520_1.pdf [2020-05-18]