Exchange council of KASE refused to admit common shares of Sumbe JSC (Kazakhstan) to the official "B" listisng category
/KASE, January 6, 06/ - By the decision of the Exchange Council of
Kazakhstan stock exchange (KASE) dated December 29, 2005 the request
of Sumbe JSC (Almaty) about the inclusion of KZ1C53370017 issue
common shares in KASE's official "B" listing category was rejected.
The Exchange Council based its decision on results of the conclusion of the
Listing committee of KASE, comments of issuer representatives and Centras
Securities JSC (Almaty), the financial consultant.
According to sub-article 18 of the article 3 of the Listing rules, the decision
about admission of securities to the official list of the Exchange or about
securities transferring from one to another category of the official list is
enacted upon agreement of a simple majority of all Exchange members.
Less votes mean denial of listing of transferring. 7 members of Exchange
council voted in favor of inclusion of shares of Sumbe JSC in the official "B"
listing category, 0 - against and 5 members abstained.
Along with this, Exchange council allowed KZATSI JSC to give second
application about listing of the above securities till expiry of term, established
by point 2 of the article 21 of Listing rules, but not earlier than January 29,