ATFBank JSC (Kazakhstan) declared KZT160.0 per share dividends, contemplates issuing KZT4.5 bn bonds

/KASE, May 20, 04/ - ATFBank JSC (Almaty), whose securities are listed under "A" listing category of Kazakhstan Stock Exchange, released a minutes of annual shareholders meeting that took place on May 11, 2004. Shareholders approved annual financial statements of ATFBank JSC for 2003, considered net income distribution issues for 2003, amendments and additions to the Charter, Resolution on Board of Directors and accepted decisions that follow. Shareholders approved declaration of dividends on both common and preferred shares in amount of KZT160 per share (or 16.0%APR of share price). Ex-dividend date is set to May 12, 2004 for preferred shares holders and January 1, 2004 for common shares holders. Preferred dividends will be paid beginning on May 13, 2004. Dividends on preferred shares by results of 2003 will be paid either though transferring corresponding amounts at shareholders' current accounts or by paying in cash. Common shares holders will be offered an opportunity to choose between stock dividends and cash dividends by writing an official request addressed to the Chairman of the bank. Written request has to be submitted from May 11 to June 11, 2004 (inclusive). In case shareholder opts for stock dividends the official registrar (FONDOVYI SERVIS JSC - IRBIS note) of the bank will transfer shares at private account of a shareholder after June 11, 2004. In case of cash dividends, corresponding amounts will be either transferred at shareholders current accounts or be distributed through cash offices of the bank. Shareholders authorized the management to boost liabilities by the amount up to USD500 million in 2004 -2005 through additional euronotes offering, additional coupon/discount subordinated bonds issuing and syndicated loans and other. Shareholders authorized the management to decide on priority and parameters when instruments are issued within approved limits of marginal borrowing. Ernst & Young Kazakhstan LLP and Eltal-Uveman LLP were appointed as auditors of the bank. The management is authorized to choose the registrar of the bank and decide on fees paid to the registrar. Shareholders approved parameters of subordinated bonds: volume of KZT4.5 bn, maturity up to 10 years, interest is contingent on market rates. Shareholders also decided to raise authorized capital of the bank to KZT20.0 bn with floatation price of KZT1,000 per share. Equities are divided into 16,600,000 common and 3,400,000 preferred. [2004-05-20]