Air Astana announces share and GDR repurchase program

30.04.24 12:43
/KASE, April 30, 2024/ – Air Astana JSC (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated April 30, 2024: quote Air Astana JSC (hereinafter – the "Company") announces that, in accordance with the decision of the Board of Directors of the Company dated February 12, 2024, it will begin a program for the repurchase of common shares of the Company (hereinafter – the "Shares") and global depositary receipts, representing the Shares (hereinafter – the "GDRs") (hereinafter – the "Program"). The purpose of the Program is to fulfill the Company's obligations arising from its employee bonus programs. As part of the first part of the Program, the Company intends to purchase up to 4,786,800 Shares (in the form of Shares and GDRs), which currently represents approximately 1.3 % of the total number of issued Shares of the Company (including Shares, the rights to which are certified by GDRs), for a total amount not exceeding US$12 million (including associated costs). The first part of the Program will begin on April 30, 2024 and end no later than February 8, 2025. To implement the Program, the Company hired Halyk Finance JSC, Freedom Finance JSC and Freedom Finance Global PLC for the purchase (on the terms of execution of orders), from time to time during the period of the Program (i) of the Shares on Kazakhstan Stock Exchange JSC and the International Stock Exchange Astana ("AIX"); and (ii) of the GDRs on AIX, on behalf of the Company. Purchases will be made at the prevailing market price, in accordance with the rules of the relevant exchanges and in compliance with the requirements of applicable laws regarding the prevention of abuse on the securities market. The Company intends to regularly announce the results of the Program implementation. The Company will also advise, if other brokers are involved or if the program is extended to the London Stock Exchange. unquote The full version of the press release is available on: - – in Qazaq; - – in Russian. [2024-04-30]