Board of directors of Mining and smelting concern Kazakhaltyn JSC (Kazakhstan) decides to make pawn property agreement with Kazkommertsbank JSC (Kazakhstan) for securing obligations on credit line
14.03.05 11:08
/KASE, March 14, 05/ - Mining and smelting concern Kazakhaltyn JSC
(Stepnogorsk, hereinafter - company), whose bonds are circulating in
Kazakhstan stock exchange's (KASE) official "A" listing category, has
presented to KASE the copy of decision of its Board of directors dated
March 9 of 2005.
In accordance with the presented document company's Board of directors
took following decisions (quotations from the decision of company's Board of
directors are given below):
- "make pawn property agreement (mentioned in application ¦ 1 for the
given Protocol) between MSC Kazakhaltyn JSC and Kazkommertsbank
JSC for securing obligations on the Agreement about opening the credit
line ¦ 567 dated January 20 of 2005 made with Kazkommertsbank
JSC, and also all obligations, which will appear in the future on the
mentioned Agreement in case of any change and/or expansion of its
conditions (including, but not limiting: increase or decrease of the size
(limit) of the credit line, size of payable interest, any change of terms,
conditions and order of credit line presentation; joining of juridical and
physical persons to the mentioned Agreement about opening the credit
line for receiving credit or stoppage of their participating in it; change or
expansion of Accessorial Agreements conditions; making of new or
stoppage of made before Accessorial Agreements)."
- "Give Kazkommertsbank JSC the right for extrajudicial sale of the
property given as the pawn."
- "Charge Kanat Asaubayev Chairman of the Executive
committee/President with execution of the mentioned decision with the
right to sign necessary pawn agreements with Kazkommertsbank JSC."
- "Charge Company's Executive committee with notifying Kazakhstan
stock exchange Inc. about the taken decision."
In accordance with the above-mentioned application property given as the
pawn to Kazkommertsbank JSC comprises 67 units of equipment, two units
of transport means and 3 units of special-purpose machinery.
Company's primary activities - exploration and prospecting works, extraction
and processing of gold-containing ore, production of gold-containing goods,
manufacture, storage and sale of gold and other precious metals, export of
gold and other precious metals and precious stones, jewelry production,
operations with refined precious metals and precious stones in physical
condition, transportation, organization of scientific and project-survey works
and experimental developments.
[2005-03-14]