Shareholders of KazTransCom JSC (Kazakhstan) approved big deals and deals, which company is interested in

/KASE, May 30, 05/ - KazTransCom JSC (Almaty, the company), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, has presented to KASE a copy of minutes of its prescheduled general shareholders meeting, which was held on March 25 of 2005. In accordance with the agenda shareholders have confirmed deals made by the company and decided to (quotations from the mentioned document are given below): 1. "Confirm making of Company's deal, in compliance with the agreement with AGIP KCO on rendering services on realization of the project "Creation of integrated telecommunication network on Eastern KASHAGAN field - experimental program" for: - borrowing bank loan for replenishment of working capital by up to 2,610,000 (two million six hundred and ten thousand) US dollars, term of loan borrowing - until July of 2009, interest rate - no higher than 12% APR, with the bank, which offered the best conditions in accordance with the mentioned limitations. - and bank guarantee for the amount not exceeding 1,396,882.96 (one million three hundred and ninety six thousand and eight hundred eighty and two) US dollars and 96 cents that is 10% from the cost of agreement made with AGIP KCO. Interest rate on the guarantee is no higher than 4.75% APR, with the bank, which offered the best conditions in accordance with the mentioned limitations. Term of guarantee is 50 months (total expected duration of the contract is 26 months plus 24 months)." According to the minutes, regarding the third question of the agenda "About election of member of the Board of directors" it was decided by the majority vote it was inexpedient to change the staff of company's Board of directors. Company's primary activities - telecommunication services for oil and gas companies as well as for various industrial enterprises and population. [2005-05-30]