KMG EP announces amendments to the agenda of the upcoming EGM
Astana, November 21, 2016. JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) announces amendments to the agenda of the upcoming extraordinary general meeting of shareholders (EGM) scheduled for December 13, 2016. An additional item regarding amendments to the charter of KMG EP has been added to the agenda in accordance with Government Decree No.1095 dated December 28, 2015. According to the Decree, legal entities with a state ownership of 50 percent or more, and their affiliates must make additions to the list of activities, which they are permitted to perform.
Principal activities of the Company will not undergo any changes given the technical nature of the abovementioned amendments to the Charter.
The amended agenda is as follows:
- Amendments to the charter of "KazMunaiGas Exploration & Production;
- Early termination of powers of a member on the Board of Directors;
- Election of a member to the Board of Directors.
The materials for upcoming EGM will be available on KMG EP’s website not later than 10 days before the meeting.
Notes to Editors
KMG EP is among the top three Kazakh oil producers. The overall production in 2015 was 12.4 million tonnes (251 kbopd) of crude oil, including the Company’s share in Kazgermunai, CCEL and PKI. The Company’s volume of proved and probable reserves excluding shares in the associates, at the end of 2015 was 193 million tonnes (1,409 mmbbl). The Company’s shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US$2bn at its IPO in September 2006.
For further details please contact us at:
KMG EP. Investor Relations (+7 7172 97 5433)
Saken Shoshanov
e-mail: ir@kmgep.kz
KMG EP. Public Relations (+7 7172 97 78 87)
Bakdaulet Tolegen
e-mail: pr@kmgep.kz
Brunswick Group (+44 207 404 5959)
Carole Cable
e-mail: KMGEP@brunswickgroup.com
Bell Pottinger (+44 203 772 2500)
Gavin Davis
Henry Lerwill
e-mail: KMGEP@bellpottinger.com
Forward-looking statements
This document includes statements that are, or may be deemed to be, ‘‘forward-looking statements’’. These forward-looking statements can be identified by the use of forward-looking terminology including, but not limited to, the terms ‘‘believes’’, ‘‘estimates’’, ‘‘anticipates’’, ‘‘expects’’, ‘‘intends’’, ‘‘may’’, ‘‘target’’, ‘‘will’’, or ‘‘should’’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They include, but are not limited to, statements regarding the Company’s intentions, beliefs and statements of current expectations concerning, amongst other things, the Company’s results of operations, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and as to the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company’s operations, financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements or industry information set out in this document, whether as a result of new information, future events or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved.