Kcell announces appointment of new Finance Director

 

Almaty, 21 August 2017 — 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, today announces that the Board of Directors has approved the appointment of Andis Locmelis as the Company’s Finance Director.

The appointment of Andis Locmelis follows the decision by current Finance Director Trond Moe for personal reasons to leave the Company when his current contract comes to an end.

Mr. Locmelis will replace Mr. Moe and start his duties upon receiving relevant regulatory authorisation.

Mr. Locmelis brings over 17 years of CFO experience in the telecoms, media and technology sector, including mobile and fixed telecoms, internet and cable TV business segments, as well as in the FMCG sectors.

Prior to joining Kcell, Mr. Locmelis served as the Group’s CFO of MegaFon, Russia, CFO of Lattelecom, Latvia, and CFO and Supply chain director at Mobilink, Pakistan.

Mr. Locmelis holds an EMBA and MBA Finance from RTU Riga Business School.

Jan Erik Rudberg, Chairman of Kcell, commented:

«I thank Trond for the substantial contribution he has made to the development of Kcell. We wish him every success for the future.

Andis will be a great addition to our team and we are delighted to welcome him to Kcell. His broad financial and operational experience and substantial knowledge of the telecoms industry will be invaluable as we continue to grow our business and improve our performance.»

Contacts

 

Investor Relations

 

Irina Shol

Tel: +7 727 2582755, ext. 1002

Investor_relations@kcell.kz

   

Media

Natalya Eskova

Tel: +7 727 2582755, ext. 1902

Pressa@kcell.kz

   

International media

 

Instinctif Partners

Tel: +44 207 457 2020

Kay Larsen, Galyna Kulachek, Adrian Duffield

 

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.

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/4G network to expand coverage and to provide high quality services. 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.