/KASE, January 23, 04/ - Kazakhstan stock exchange (KASE) announces the final
terms of sale of state block of shares (SBS) of Open joint-stock company
"UST-KAMENOGORSK TITANIUM-MAGNESIUM COMBINE" (UKTMC OJSC, Ust-Kamenogorsk) in
KASE's trade system on January 26 of 2004.
Initiator of the trades is the Committee of state property and privatization of
the Ministry of finance of Kazakhstan (Committee).
Broker authorized for selling the SBS is KIB ASSET MANAGEMENT Ltd. JSC (Almaty).
Characteristics of the SBS - 167,260 common shares (NIN - KZ1C05502017) traded
in KASE's official "A" listing category under the code UTMK (15.5% of total
number of floated shares of UKTMC OJSC).
Characteristics of the instruments
The SBS has been divided into two parts for organization of trades.
One part consisting of 107,910 shares (64.5% of the sold SBS or 10.0% of total
number of floated shares of UKTMC OJSC) is exhibited for trades by indivisible
lot under the code NZ_UTMK_10. In order to participate in the trades potential
buyer should transfer to KASE's correspondent account the guarantee fee in the
amount of KZT140.0 m. before trade starting.
The other part of the SBS consisting of 59,350 shares (35.5% of the sold SBS or
5.5% of total number of floated shares of UKTMC OJSC) is exhibited for retail
sale (one lot - one share) under the trade code NZ_UTMK_5.5. Size of guarantee
fee in this case is KZT1,000 for one share.
Trade mode
Trades in the SBS at KASE will be held within the framework of trade session in
corporate securities since 11:30 a.m. till 5:00 p.m. of Almaty time by open
trade method in compliance with section II of KASE's internal document
"Description of methods of trades holding "
(
http://www.kase.kz/geninfo/normbase/methods.asp). In every case of coincidence
of purchase and sale prices in bids submitted during the open trade KASE's
trade system will automatically open for 15 minutes trades in corresponding
instrument by Frankfurt method (article 3, chapter I, section IV, "Description
of methods of trades holding"). During this trade potential buyers, competing
between each other, can submit bids at higher prices. Period of trade by
Frankfurt method ends no less than in 5 minutes since the moment of the last
bid submitting, changing or annulling of any bid by any trade participant.
Thus, if trades in any lot by Frankfurt method start later than 4:45 p.m. of
Almaty time, they can be closed after 5:00 p.m., but anyway - before 6:00 p.m.
All lots are to be quoted at KASE in Kazakhstan tenge for one share with the
accuracy of two decimal figures.
Settlement mode
Settlements according to results of the trades are made in compliance with the
article 7 of KASE's internal document "State blocks of shares. Order of
admission to sale at trades and settlements according to results of trades"
(
http://www.kase.kz/geninfo/normbase/gpa.asp). In accordance with this
document sum of deal excluding sum of commission fee of KASE and transferred
before guarantee fee (which is transferred before the beginning of the trades
by potential buyer to KASE's correspondent account) is to be transferred by SBS
buyer to the correspondent account of Central depository of securities CJSC
(Almaty) within seven working days since the day of its making.
Additional information
Bids for participating in the trades may be submitted only by KASE's members of
"H" category. Investors can submit bids through these juridical persons. Full
list of KASE's members of "H" category has been published in the stock
exchange's site at
http://www.kase.kz/kasemembers/.
The committee does not set any limits for investors, so it follows that shares
can by purchased at the trades by any physical or juridical person, which is
resident or non-resident of the Republic of Kazakhstan.
On the reason shares of SBS have been included in KASE's "A" listing category,
they can be purchased at the expense of pension assets of accumulative pension
funds of Kazakhstan.
During the work meeting, which was held today at KASE in accordance with the
forthcoming sale, a representative of the Committee assured professional
participants of the market that in case buyer of SBS transferred money for the
bought shares before January 28 the Committee would help the buyer's
representatives in participation in the prescheduled general shareholders
meeting of UKTMC OJSC, which is to be held on January 28 in Ust-Kamenogorsk.
[2004-01-23]