Kcell JSC announces results of Extraordinary General Meeting of Shareholders


Almaty, 4 February 2015 - Kcell Joint Stock Company (“Kcell” or the “Company”) (LSE, KASE: KCEL) the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, announces the results of its Extraordinary General Meeting of Shareholders (“EGM”), held on 3 February 2015.

The EGM approved an increase in the number of Board members from six to seven.  Mr. Douglas Gordon Lubbe, a representative of the shareholder Fintur Holdings B.V, has been elected as the seventh member to Kcell’s Board of Directors.

A copy of the resolutions passed will be available on Kcell’s corporate website: www.investors.kcell.kz.


Douglas Gordon Lubbe

Douglas Gordon Lubbe joined TeliaSonera as CFO Eurasia based in Istanbul in July 2014. Prior to this, Mr. Lubbe had been working at Vodacom Group in various senior managerial positions since 1997. During his tenure at Vodacom Group, Mr. Lubbe served on a number of boards and board sub-committees at subsidiaries such as Vodacom Tanzania, Vodacom DRC, Vodacom Mozambique, Vodacom Lesotho, Gateway Carrier Services, Vodacom Business Africa and Vodacom International Limited Mauritius (Holding Company). Between April 2012 and September 2012, Douglas served as interim Managing Director in Vodacom Mozambique and successfully saw off the launch of a third operator shortly after his arrival and also commenced a project to overhaul the sales and distribution network. In 2013, Douglas was transferred to Mergers and Acquisitions in Vodacom Group and was responsible for the integration of a pending acquisition that would combine a fixed-line operation with the South African business. Douglas Gordon Lubbe is a qualified Chartered Accountant and is a registered member of the South African Institute of Chartered Accountants. Douglas also holds an MBA degree from the University of Southern Queensland in Australia and an executive management diploma from the University of South Africa.




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Company Overview

Kcell provides mobile voice telecommunications services, messaging services, value-added services such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass market subscribers. The Company offers its services through its extensive, high quality network which covers substantially all of the populated territory of Kazakhstan.

In December 2012, Kcell successfully completed its offering of GDR’s on the London Stock Exchange and common shares on KASE. The price was set at USD 10.50 per GDR and KZT 1,578.68 per share with each GDR representing one share.  The offering consisted of a sale by TeliaSonera of 50 million shares, which represent 25 percent of Kcell’s share capital. TeliaSonera holds directly and indirectly 61.9% of the Company’s common shares.

Kcell plans to benefit from the significant growth potential for mobile data services in Kazakhstan. The Company intends to continue to invest in the deployment of its 3G network to expand coverage. Kcell aims to maintain its market leadership in terms of revenue and the number of subscribers by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the high quality of its network and enhancing its brand value.