Extraordinary General meeting results
Astana, 18 July 2018. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") held its Extraordinary General Meeting of shareholders (“EGM”) on 11 July 2018.
Each of the resolutions contained in the AGM agenda were voted on by the shareholders.
Pursuant to resolutions that were approved by the EGM, the Board of Directors now comprises four people and the following members have been removed from the Company’s Board of Directors: Geroy Zholtayev, independent non-executive director; Oleg Karpushin, representative of NC KazMunaiGas; Ardak Mukushev, representative of NC KazMunaiGas; and Asiya Syrgabekova, representative of NC KazMunaiGas.
Therefore, the Board of Directors currently comprises the following people:
- Dauren Karabayev – representative from NC KMG, Deputy Chairman of the Management Board – Cheif Financial Officer at NC KMG– Chairman of the Board of Directors of KMG EP;
- Kurmangazy Iskaziyev – Chief Executive Officer (Chairman of the Management Board of KMG EP), Deputy Chairman of the Management Board, Exploration, Production and Oilfield Services at NC KMG;
- Zhannat Yertlesova – Independent Non-Executive Director;
- Baltabek Kuandykov – Independent Non-Executive Director.
Furthermore, as per resolution of the EGM amendmnts have been made to the Charter of KMG EP and to the KazMunaiGas E&P Share Valuation Method for the period when those Shares are to be bought back by KazMunaiGas E&P.
For more details please visit the website of KMG EP.
Notes to Editors
KMG EP is among the top three Kazakh oil producers based on the 2017 results. The overall production in 2017 was 11.9 million tonnes (240 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 2017 was 180 million tonnes (1,321 mmbbl).
For further details please contact us at:
KMG EP. Investor Relations (+7 7172 97 5433)
KMG EP. Public Relations (+7 7172 97 7893)
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.