17.03.2015, 14:27
ForteBank provides notice of swapping preferred shares Z1P40310115 for ordinary shares KZ1C40310019
OREANDA-NEWS. ForteBank JSC (Almaty, hereinafter – the Bank), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following notice:
"...ForteBank JSC (formerly JSC Alliance Bank, the "Bank") has called an annual general shareholders' meeting for 14 March 2015 (the "GSM"). As announced by the Bank previously, one of the items on the agenda for the GSM is the Bank's proposal to exchange all outstanding Preference Shares for common shares in the Bank (the "Common Shares")and to approve the terms and processes for such exchange (the "Exchange").
The Bank hereby notifies holders of the Preference Shares and the PS GDRs that if the relevant resolution concerning the Exchange is approved at the GSM, the Bank contemplates implementation of the Exchange promptly afterthe GSM, subject to obtaining any relevant regulatory approvals, and expects that the Exchange might be completed by the end of March 2015.
The Exchange will not affecton any rights that Eligible Shareholders (as defined in the tag along notice dated 27 February 2015 (the "Tag Along Notice") issued by JSC Sovereign Wealth Fund "Samruk-Kazyna") may have pursuant to the terms of the Tag Along Notice ("Tag Along Rights").
Accordingly, each Eligible Shareholder that elects to exercise its Tag Along Rights will, subject to the terms of the Tag Along Notice, continue to be eligible to receive such consideration as it would have been entitled to receive had the Exchange not been implemented. For example, if the relevant Eligible Shareholder complies with the requirements as to Evidence of Eligibility and held one Preference Share as of the Record Date, such Eligible Shareholder will be entitled to exercise the Tag Along Rights in respect of the Common Shares that such Preference Share is exchanged for and will be entitled to receive such consideration as would have been payable in respect of one Preference Share in accordance with the terms of the Tag Along Notice".
"...ForteBank JSC (formerly JSC Alliance Bank, the "Bank") has called an annual general shareholders' meeting for 14 March 2015 (the "GSM"). As announced by the Bank previously, one of the items on the agenda for the GSM is the Bank's proposal to exchange all outstanding Preference Shares for common shares in the Bank (the "Common Shares")and to approve the terms and processes for such exchange (the "Exchange").
The Bank hereby notifies holders of the Preference Shares and the PS GDRs that if the relevant resolution concerning the Exchange is approved at the GSM, the Bank contemplates implementation of the Exchange promptly afterthe GSM, subject to obtaining any relevant regulatory approvals, and expects that the Exchange might be completed by the end of March 2015.
The Exchange will not affecton any rights that Eligible Shareholders (as defined in the tag along notice dated 27 February 2015 (the "Tag Along Notice") issued by JSC Sovereign Wealth Fund "Samruk-Kazyna") may have pursuant to the terms of the Tag Along Notice ("Tag Along Rights").
Accordingly, each Eligible Shareholder that elects to exercise its Tag Along Rights will, subject to the terms of the Tag Along Notice, continue to be eligible to receive such consideration as it would have been entitled to receive had the Exchange not been implemented. For example, if the relevant Eligible Shareholder complies with the requirements as to Evidence of Eligibility and held one Preference Share as of the Record Date, such Eligible Shareholder will be entitled to exercise the Tag Along Rights in respect of the Common Shares that such Preference Share is exchanged for and will be entitled to receive such consideration as would have been payable in respect of one Preference Share in accordance with the terms of the Tag Along Notice".
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