OREANDA-NEWS. December 22, 2010. Kazakhstan Stock Exchange (KASE) informs that on January 5-31, 2011, in the KASE trading system shall be held specialized trades to acquire preferred shares KZ1P51460114 (KASE official list, third category, RDGZp) of KazMunaiGas Exploration Production (Astana), reported the press-centre of KASE.

VISOR Capital (Almaty) acts as an authorized buyer on specialized trades.

At present, the total number of authorized and offered preferred shares of KazMunaiGas Exploration Production makes up 4,136,107 units. The buyer intends to acquire up to 100 % of the securities' mentioned number.

Specialized trades shall be executed in the KASE trading system from 11:30 Almaty time (ALT) January 5 to 16:00 ALT January 31, 2011. The security ticker - RDGZpA. The buyer shall define a cut-off till 16:30 ALT January 31, 2011. Settlements shall be made on February 3, 2011 (Т+3) in compliance with the Central Securities Depository (Almaty) rules.

On the settlement day sellers must provide securities available at their accounts with the Central Securities Depository by the moment of order acceptance. The buyer must provide the money available in return for the acquired securities at the corresponding account with the Central Securities Depository before the settlement day.

Only limited orders submitted to the KASE trading system in the closed method shall be accepted.

As the price the order will indicate a share price denominated in tenge within the second decimal place. The number of financial instruments in the order must be equal to the number of selling shares. The order volume must be equal to a product of selling shares and one share price.

Orders will be accepted - at cut-off price. At that the buyer may accept all orders, prices of which equal to a cut-off price or less than this price.

To take part in the specialized  trade the sellers must guarantee that securities proposed for sale are not limited in circulation by virtue of any agreement or legislation, and not pledged or charged, and also, there are available permits and agreements in accordance with the applicable legislation, including permits and agreements of state agencies in accordance with the legislation of the Republic of Kazakhstan in regard of their carve-out.

Only KASE stock market members may take part in the trade (eligible to trade securities circulating on KASE). Other investors may trade through such legal entities. The full list of stock market members is available at http://www.kase.kz/en/membership

Trades are the part of KazMunaiGas Exploration Production preferred shares buy back program.

As previously informed, KazMunaiGas Exploration Production approved its preferred shares buy back program to be implemented through consequent separate thirteen days specialized trades on KASE in compliance with the exchange rules. The program will be completed till December 31, 2011. The full text of KazMunaiGas Exploration Production press release is available at http://www.kase.kz/en/news/show/1097009

By results of previous seven trades (March 9, 10, March 11 - April 9, April 30 - May 28, July 1 - 30, September 1 - 30, November 1-30) the buyer acquired 1,346,213 preferred shares to the total amount of KZT24,357,924,705.66 (the equivalent of USD165,026,590.15  at the exchange rate as of December 3 - deals satisfaction date, made on the last trades) that makes up 32.5 % from the total number of shares planned for buy back.                                 

Details on the issue of the securities are available on the KASE website at http://www.kase.kz/en/shares/show/RDGZp