JSC National Company Kazmunaygas EGM RESULT
03 Agosto 2016 - 6:43AM
RNS Non-Regulatory
TIDM67LN
JSC National Company Kazmunaygas
03 August 2016
3 August 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION
KMG EP EGM RESULT
JSC National Company KazMunayGas ("NC KMG") has issued the
following statement following the result of the vote on the
proposals contained in the Revised Circular (the "Circular")
published by NC KMG on 14 July at the general meeting of
shareholders ("EGM") of JSC KazMunaiGas Exploration Production
("KMG EP" or "the Company") in Astana, Kazakhstan earlier
today:
"We are disappointed that although our proposals to improve the
performance of KMG EP did have significant support among minority
shareholders, our proposals were ultimately not carried at the EGM
today."
As the Approval Condition (as defined in the Circular) was not
satisfied, the Purchase Offer (as defined in the Circular) will not
be made.
Note:
NC KMG, Central Asia's largest oil and gas company, is
Kazakhstan's national operator for exploration, production,
refining and transportation of hydrocarbons. The Company accounts
for 28.6% of oil and 16% of gas production in Kazakhstan and is one
of the country's largest employers, with over 76,000 employees. The
consolidated oil and gas condensate output in 2015 amounted to
22,670 thousand tons, gas production - 7,255 MMcm, 16,317 thousand
tons of oil were sent to the refineries for processing; the proven
oil and gas condensate reserves are 801.2 mn tons. The Company
represents the Government in the oil and gas sector, 90% of it is
owned by the "Samruk-Kazyna" JSC, Kazakhstan's sovereign wealth
fund, and 10% by the National Bank of the Republic of Kazakhstan.
NC KMG has participatory interests in 38 oil & gas businesses
in Kazakhstan and abroad.
Enquiries:
Media enquiries:
Portland
Oliver Pauley +44 (0)207 554 1608
This announcement does not constitute an offer or invitation to
purchase any securities.
This announcement, including information included in the
documentation referred to in this announcement, may contain
"forward-looking statements" concerning NC KMG. All statements
other than statements of historical facts included in this document
may be forward looking statements. Without limitation, any
statements preceded or followed by or that include the words
"targets", "plans", "believes", "expects", "aims", "intends",
"will", "may", "anticipates", "estimates", "projects" or words or
terms of similar substance or the negative thereof, are forward
looking statements. Such forward looking statements involve risks
and uncertainties that could significantly affect expected results
or outcomes and are based on certain key assumptions. Many factors
could cause actual results or outcomes to differ materially from
those projected or implied in any forward looking statements. Due
to such uncertainties and risks, readers are cautioned not to place
undue reliance on such forward looking statements, which speak only
as of the date hereof. NC KMG assumes no obligation and does not
intend to update these forward-looking statements, except as
required pursuant to applicable law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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