Bank CenterCredit OJSC (Kazakhstan) intends to increase authorized capital by KZT2 bn, borrow up to $115.0 m at international markets and up to KZT2.0 bn - at domestic market

/KASE, May 8, 03/ - Bank CenterCredit OJSC (Almaty) has provided Kazakhsatn stock exchange (KASE) with a copy of minutes of the annual General shareholders meeting, which was held on April 11 of 2003. In accordance with the accepted agenda shareholders of Bank CenterCredit OJSC have approved the Board's report, Auditing commission's conclusion, annual financial statement for 2002, changes and additions in the bank's charter, and made following decisions. Distribute the bank's net income for 2002 in the following way: to spend KZT531.5 m. for formation of reserve capital, to remain the other sum (KZT126.8 m.) as undistributed income. Increase the bank's announced authorized capital by KZT2.0 bn. to KZT7,063 m. Due to additional issue of common inscribed shares consisting of 10,000,000 units with the face value KZT200 each. Make additional shares issue after full floatation of shares of the 4th issue and approval of the report on them by the results of their floatation. Increase liabilities of Bank CenterCredit OJSC by 25% and more of the bank's shareholders equity and make following deals in accordance with the increasing: - borrow syndicated loan for up to USD40.0 m. for the term of up to 2 years; - issue subordinate bonds for up to KZT2 bn. for the term of up to 7 years; - issue international bonds for up to USD75.0 m. For the term from 3 to 5 years. During the held meeting shareholders stopped authorities of members of the acting Board of directors of Bank CenterCredit OJSC and elected a new staff for 5 years consisting of eight persons: V. Lee, S. Tereshenko, D. Amankulov, K. Muldagaliyev, E. Sharipov, M. Kunaev, S. Chukubayev. Besides, the meeting stopped authorities of acting Auditing commission and elected a new staff of Auditing commission consisting of three persons: S. Meirzhanov - presiding commissioner, T. Lazareva, T. Bisenov, and also elected the returning board consisting of 6 persons: G. Lutsenko - presiding commissioner, N. Auelbekov, A. Balkebayev, D. Idayatova, O. Sviridova, M. Timchenko. [2003-05-08]