Board of Directors of Bayan-Sulu OJSC (Kazakhstan) approved new management team members, plans issuing stocks

/KASE, June 8, 04/ - Bayan-Sulu OJSC (Kostanai) with shares listed under official "B" category of Kazakhstan Stock Exchange (KASE) informed of following decisions accepted by the Board of Directors on May 31, 2004. According to announcement, Baimuartov Y. U. has been appointed as the Chairman of the Board of Directors and Nuryzbayeva Y.K. as the secretary. The new Management Board, an executive body of the company, has been formed that now includes three people: Trayber V.A., the President, Shayakhmetov T.T. and Pylsky A.V., members of the Board. Authorities were given for 3 years. Newly elected members will have to conclude individual labor contracts. Directors also decided to act as co-founder of Loan and Thrift ABK LLP by investing KZT30 th in equity of the company. The Company will issue common shares at KZT150 per share. The upcoming issue consists of 515,968 announced and unfloated shares and 28,243 shares held in treasury. The Company will publish an offer to purchase shares addressed to existing shareholders of Bayan -Sulu OJSC in regular newspaper. Shares will be offered upon 30 days after date of publishing. The placement will take two days. Primary activities: the Company manufactures and markets confectionery. [2004-06-08]