OREANDA-NEWS. May 06, 2009. The Exchange Council of the Kazakhstan Stock Exchange (KASE) elected Kadyrzhan Damitov (49) as the KASE President for a two-year term, reported the press-centre of KASE.

Beginning February 5, 2009 K. Damitov was an advisor to the Chairman of Alliance Bank (Almaty).

The KASE President was elected in two stages: selective and final.

At a selective stage voting was made secretly regarding each candidate for the position of the KASE President. The voting resulted in short-listing of candidates.

The Exchange Council members gave their votes as follows:

- K. Damitov - 9 votes;

- B. Babenov - 7 votes;

- A. Jodasbekov - 5 votes;

- I. Sabitov - one vote;

- A. Tsalyuk - no votes.

In accordance with the procedure approved by the KASE Exchange Council decision the short-list included B. Babenov and K. Damitov as persons receiving the majority and the second number of votes at a selective voting stage.

Final voting was initially performed in a secret manner. This voting resulted in B. Babenov and K. Damitov receiving 7 votes each.

As according to sub-item 5) of item 8 of article 13 of the KASE charter "at equality of votes the vote of a person presiding at the Exchange Council is casting" the KASE Exchange Council made a decision to hold additional voting in an open manner to determine the opinion of the Exchange Council chairman.

During open voting K. Damitov received 8 votes and B. Babenov received 6 votes.

Other members of the KASE management will be elected on May 5, 2009.

Authorities of A. Joldasbekov as a KASE President expire at 00.00 Almaty time May 6, 2009.