KMG EP announces resolution on making a major transaction and commencement of article 27 of the RoK’s Joint Stock Companies Act
KazMunaiGas Exploration Production JSC (KMG EP, the Company) is hereby announcing the resolution, passed on 11 February 2019 by the extraordinary general meeting of shareholders, on the Company's making a major transaction, as a result of which the Company is alienating (may alienate) the property with the value amounting to fifty or more percent of the total amount of the Company's book value – supplementary agreement to Financial Assistance Agreement No. 183-79//337-71 of 19 September 2018 between JSC NC "KazMunayGas” and the Company.
Pursuant to article 27 of the RoK's Joint-Stock Companies Act, the non-consenting shareholders are entitled, within thirty days of this resolution, to issue to the Company before 13 March 2019 a call for redemption of the shares they own, by sending a written application to the Company at the following address: 17 Kabanbay Batyr, 010000, Astana, Republic of Kazakhstan. The redemption price will be determined in accordance with the Methodology for Determining the Price of Shares of KazMunayGas EP JSC when Bought by the Company, approved by the general meeting of shareholders of 23 January 2008, as amended on 22 January 2018 and 11 July 2018 (the Methodology), in respect of common and preferred stock, respectively.
The text of the Methodology is available at http://kmgep.kz/uploads/files/Metodika_11.07.2018.pdf