Tsesnabank JSC (Kazakhstan) to pay KZT24.6 m. of dividends on preferred shares for year 2004 and will increase authorized capital to KZT3.0 bn.

/KASE, May 19, 05/ - Tsesnabank JSC (Astana), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, has presented to KASE a copy of minutes of the annual general shareholders meeting, which was held on April 22 of 2005. In accordance with the agenda bank's shareholders have confirmed its audited annual financial statement for year 2004, changes in bank's charter because of changing of executive body's location and increasing of bank's authorized capital, and taken following decisions: - spend bank's undistributed net income amounting to KZT420,325 th. in the following way: spend KZT24,632 th. for dividends payment on preferred shares; account the remaining part of undistributed income as "Undistributed net income of previous years"; - not to pay dividends on common shares; - increase bank's authorized capital to KZT3.0 bn. having divided it into 2,250,000 common and 750,000 preferred shares without voting right with guaranteed dividend equaling to 10% APR from shares offering price; - elect KPMG Janat LLP bank's auditor; - in accordance with prescheduled stoppage of authorities of L. Jaksybekova a member of the Board of directors and V. Petrushyak an independent director elect D. Zhaksybek a member of the Board of directors, S. Kanafin - an independent director. According to the minutes, regarding the eighth question of the agenda "Other: About bank's having physical and juridical persons having signs of bank's big participant in compliance with the current legislation" it's been decided to send information about absence of big participants among bank's shareholders to Kazakhstan agency for financial market and financial organizations regulation and supervision. [2005-05-19]