KazakhGold Announces Completion of Shares Placement
OREANDA-NEWS. July 09, 2010. KazakhGold Group Limited ("KazakhGold" or the "Company") announces that it has successfully completed the previously announced USD 100 million placing of new ordinary shares of KazakhGold ("Shares") and global depositary receipts ("GDRs") representing those Shares (the "Placing"). The Placing was originally announced as part of the partial offer for KazakhGold by OJSC Polyus Gold ("Polyus Gold") in 2009 and was subsequently delayed due to the requirement to obtain Kazakh government approvals for the Placing. As part of the partial offer, Jenington International Inc. ("Jenington"), an indirect wholly-owned subsidiary of Polyus Gold, entered into an underwriting agreement with KazakhGold to underwrite the Placing at USD 1.50 per Share.
A total of 51,194,922 Shares and 15,471,745 GDRs (each representing one Share) were placed at a price of USD 1.50 per Share and per GDR. Jenington subscribed for 51,194,922 Shares and, as a result, will hold a total of 77,745,417 Shares, representing 65 per cent. of the issued share capital of the Company.
HSBC Bank plc acted as sole placement agent.