KMG EP Board of Directors approved AGM agenda
Astana, 17 February 2017. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") held its regular Board of Directors (“the Board”) meeting. During the meeting, the Board approved the agenda items for the Shareholder Annual General Meeting (“AGM”), which will take place on 23 May 2017.
These agenda items for AGM are as follows:
1) approval of annual financial statements for 2016;
2) explanation of the manner in which net income of the Company for the last tax year should be distributed and the size of a dividend per share of the Company;
3) approval of annual report of the Company for 2016;
4) update on complaints of shareholders about actions of the Company or any of its officers, and results review of such complaints in 2016;
5) report on terms and amount of fees payable to directors and members of the Management Board in 2016;
6) update on performance of the Board of Directors and the Management Board of the Company in 2016;
7) approval of amended and restated of the Company’s Charter;
8) approval of amended and restated Code on Corporate Governance of the Company;
9) approval of amended and restated of the Terms of Reference for the Board of Directors of the Company;
10) determination of the number of members of the Company’s Board of Directors;
11) setting of the term of office of members of the Company’s Board of Directors;
12) election of members to the Company’s Board of Directors; and
13) terms and amount of fees payable to directors and reimbursement of the directors for any costs they may incur while discharging their duties;
14) selection of an auditor to audit the Company.
Notes to Editors
KMG EP is among the top three Kazakh oil producers based on the 2016 results. The overall production in 2016 was 12.2 million tonnes (245 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 79 08)
Bakdaulet Tolegen
e-mail: pr@kmgep.kz
Bell Pottinger (+44 203 772 2500)
Henry Lerwill
e-mail: KMGEP@bellpottinger.com
Notes to Editors
KMG EP is among the top three Kazakh oil producers based on the 2016 results. The overall production in 2016 was 12.2 million tonnes (245 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.
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.