Kcell JSC announces results of Extraordinary General Meeting of Shareholders

Almaty, 16 January 2020 - Kcell Joint Stock Company ("Kcell” or the “Company”) (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan, announces the results of its Extraordinary General Meeting of Shareholders (“EGM”) held on 15 January 2020.

The EGM unanimously adopted the following decisions:

1.1  To determine the number of members of Kcell JSC Counting commission - three people.

1.2 To elect the following employees of Kcell JSC as members of the Counting commission for the period ending 1 June 2021:

  • Irina Shol – Chairperson of the counting commission
  • Diana Bratenkova
  • Tatyana Barelko
  1. To approve a new edition of Kcell JSC Corporate Governance Code.
  1. To approve Kcell JSC Dividend Policy.

4.1 To elect Jere Calmes as a member of Kcell JSC Board of Directors, Independent Director.

4.2 To set the term of office for Jere Calmes, Kcell JSC member of the Board of Directors, effective from the election date and until the expiration of the term of office of the current Kcell JSC Board of Directors, set forth by the Extraordinary General Meeting of Shareholders on 25 January 2019.

4.3 To determine the annual fixed remuneration and the annual additional remuneration for Jere Calmes, Kcell JSC member of the Board of Directors, in the amount provided in the resolution of the Annual General Meeting of Shareholders dated 29 May 2019.

4.4 To set the terms for payment of remuneration and compensation of expenses for Jere Calmes, Kcell JSC member of the Board of Directors, in accordance with the Policy on remuneration and reimbursement of expenses of Independent members of the Board of Directors of Kcell JSC for performing their duties, approved by the Annual General Meeting of Shareholders on 29 May 2019.

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

Jere Calmes

Jere Calmes has over 20 years of experience working in the telecommunications, retail and wholesale industry with a strong focus on emerging markets. Between December 2016 and June 2019, he was CEO of METRO Cash and Carry Russia. Prior to that Mr. Calmes worked in various senior managerial positions in the telecommunications industry, including Deputy Chief Executive Officer (CEO) in Tele 2, CEO at Tele 2 Russia, COO of Wind Telecomunicazioni (Italy), Executive Vice President, General Manager Moscow at VEON and Director Customer Services and Credit Control at Orange Egypt.  He also served on the Board of JSC Datagroup (Ukraine) and worked as Managing Director of Fast Lane Ventures and as President and CEO of the Russian pharmacy chain “36.6”. In addition, Mr. Calmes was an advisor for Adva Capital. Jere holds a BA degree in Political Science and Economics from Bates College, Maine, USA, and he completed the Executive Development Programme at Wharton School of Business.

Enquiries:

Kcell

 

Investor Relations

 

Irina Shol

Tel: +7 727 2582755 ext. 1002

Investor_relations@kcell.kz

 

 

International Media

 

Instinctif Partners

Tel: +44 207 457 2020

Kay Larsen, Galyna Kulachek

 


Company Overview

Kcell provides mobile voice telecommunications services, messaging services, value-added services (VAS) 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 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 of 50 million shares, which represent 25 percent of Kcell’s share capital.

On 21 December 2018, Kazakhtelecom JSC purchased 75 percent of shares of Kcell owned by Telia Company and Fintur Holdings B.V.

The Company intends to continue to invest in the deployment of its 3G/4G network to expand coverage and to introduce high quality services. Kcell aims to maintain high standards of service in the market by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the quality of its network and enhancing its brand value.