Bonds KZ2CKY05B273 (KZNHb2) of Kazneftehim (Kazakhstan) de-listed from KASE beginning February 1

/KASE, January 29, 10/ - The Listing commission of Kazakhstan Stock Exchange (KASE) decided to de-list beginning February 1, 2010 indexed to devaluation of tenge to dollar bonds KZ2CKY05B273 (KASE, "buffer category", KZNHb2; KZT1, KZT4.0 bn; 18.02.05 - 18.02.10, semiannual coupon 10.00 % APR; 30/360) of Kazneftehim (Almaty) from KASE. The KASE opinion dated January 20, 2010 says the bonds were transferred on October 2, 2009 from the second subcategory of "Non-rated debt securities" to "buffer category" on KASE, since Kazneftehim defaulted on interest payment on the bonds. In accordance with sub-item 8) of item 13-16 of Addenda to order of Chairman of the Agency of the Republic of Kazakhstan on regulation of activities of the Regional Financial Center of Almaty "On requirements to issuers, pending listing or listing on the special trading of the Regional Financial Center of Almaty, and to such securities" dated May 8, 2008 No. 04.2-09/119 securities are subject to de-listing in case during the listing in "buffer category", apart from incompliance that entailed the transfer to this category, they stop to comply with other requirements of items 10 and 11 of the Addenda, the issuer makes no decision in regard of restructure of liabilities. According to audited consolidated financial statements of Kazneftehim for Y2008 own capital as on December 31, 2008 was negative (-KZT2.5 bn), which is in breach with a listing requirement set in sub-item 5) of item 11 of the Addenda. Subject to the aforesaid the bonds were de-listed. The bonds were listed on KASE in category "А" February 18, 2005, and September 1, 2008 transferred to the second subcategory of "Non-rated debt securities", and October 2, 2009 - to "buffer category". Trade therein was opened February 25, 2005. During the circulation period bond yield to maturity for buyer (on open trade deals) varied from 9.50 to 62.00 % APR. [2010-01-29]