Shares Buyback Programme

Ordinary shares buyback (10/2011 - 12/2012)

In accordance with the decision made by the Board of Directors on 15 September 2011 the Company commenced its ordinary shares (Shares) and depositary receipts (GDR) Buy Back Programme on 11 October, 2011. Under the Buy Back Programme the Company had the option to purchase its Shares listed on the Kazakhstan Stock Exchange (KASE: RDGZ) and GDRs listed on the London Stock Exchange (LSE: KMG) up to an aggregate value of US$300 million. The programme was executed subject to the applicable requirements of the stock exchanges and ended 31 December 2012.

 

Ordinary shares

GDRs

Number of shares/GDRs acquired*

19,461

14,386,605

Average price per share/GDR

KZT 16,532

US$ 18.07

*14 386 602 GDRs were ordinary converted into shares during 2011-2012 buyback program. As a result of two buyback programs the total number of ordinary treasury shares stands at 2 527 860 shares.

Prefered shares buyback (03/2010 - 12/2011)

Pursuant to the decision of the Board of directors dated 23 February 2010 the Company launched a buyback programme for its preferred shares on the Kazakhstan Stock Exchange (KASE). Under the programme the Company intended to repurchase up to 4,136,107 shares (i.e. up to 100 per cent of the total number of the issued preferred shares of the Company) for up to 10 per cent of the Company’s equity capital as at the date of the Board decision, minus the costs of the Company’s ordinary share and global depository receipt buyback programme.

The Company carried out the preferred shares buyback programme through a sequence of specialized trades on KASE, which completed 31 December 2011. Pursuant to the decision of the Listing committee the Company’s preferred shares were included in KASE’s official list (KASE: RDGZp) on 4 March 2010 and admitted to trading on 9 March 2010. Under the specialised trades and in line with KASE regulations preferred shares of the Company have been assigned another symbol – RDGZpA.

 

Preferred shares

GDRs

Number of shares/GDRs acquired

2,073,147

n/a

Average price per share/GDR

KZT 17,912

n/a

 

Ordinary shares buyback (11/2008 - 10/2009)

 

Ordinary shares

GDRs

Number of shares/GDRs acquired

110,632

8,699,697

Average price per share/GDR

KZT 12 523

US$ 15.92

 

Buyback of ordinary shares for the employee options program

Under the employee option plan, an award of global depositary receipt (“GDR”) options with an exercise price equal to the market value of GDRs at the time of award was made to Company employees.

In addition to the repurchase of shares and GDRs in the three share buyback programs, the Company also repurchased the GDRs in order to implement the employee options program. As of 30 September 2014, 9,560,398 GDRs (including 8,699,697 GDRs repurchased during the abovementioned programs) are held in Trust for the implementation of the employee options program.

More information on the employee options program can be found in the annual financial statements of the Company.

Press releases on the preferred shares buyback programme.

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