Instructions for conversion of GDR into shares
Following the delisting of Kcell GDRs on the London Stock Exchange (LSE) and the Astana International Financial Center Exchange (AIX) and termination of the Kcell GDR Program, holders are invited to convert their GDRs into ordinary shares.
This document has been developed in accordance with the Law of the Republic of Kazakhstan “On Joint-Stock Companies” No.415-ИI of May 13, 2003, as amended (the Law), other statutory and regulatory enactments of the Republic of Kazakhstan and the Charter of Kcell JSC (Company).
The terms used in this document have the following meanings:
The provisions of this document shall apply to determine the cost of Shares in case of their redemption by the Company: (a) on the initiative of the Company for subsequent resale of such Shares by the Company or for other purposes not contrary to the laws of the Republic of Kazakhstan and the Charter of the Company or (b) at the Shareholder’s request in the cases provided for by the Law
Redemption of Shares by the Company on the initiative of the Company shall be at the price established by an independent appraiser appointed by the Company at its own discretion, as of the date at least 30 (thirty) calendar days before the relevant decision is taken by the Board of Directors.
Redemption of Shares at the Shareholder’s request
Instructions for conversion of GDR