Last checked at 7 Apr 2011 13:52
7 April 2011
Completion of exercise of the call option on common shares of JSC "Halyk Bank"
On 30 March 2011, Joint Stock Company "Halyk Savings Bank of Kazakhstan" ("Halyk Bank" or the "Bank") (LSE: HSBK) exercised its part of a call option in respect of the Bank's common shares which was transferred to the Bank by Holding Group Almex JSC ("Almex"), its largest shareholder, as previously described in the Bank's announcement dated 10 March 2011. As a result, the Bank repurchased 213,000,000 shares of its common shares from Joint Stock Company "National Wealth Fund "Samruk-Kazyna" ("Samruk-Kazyna") at a price of KZT 126.8 per common share. In addition, 46,064,909 common shares of Halyk Bank were purchased by Almex.
Following completion of the exercise of the call option by the Bank and Almex, the shareholding structure of the Bank as at 1 April 2011 was as follows:
Number of common shares held | Percentage of common shares outstanding | Number of preferred shares held | Percentage of preferred shares outstanding | Total number of common and preferred shares held | Percentage of common and preferred shares outstanding | |
Almex | 755,997,382 | 69.3% | - | - | 755,997,382 | 51.0% |
Samruk-Kazyna | - | - | 196,232,499 | 50.3% | 196,232,499 | 13.3% |
Others (including the Bank's GDR holders) | 335,168,729 | 30.7% | 193,852,153 | 49.7% | 529,020,882 | 35.7% |
Total outstanding | 1,091,166,111 | 100% | 390,084,652 | 100% | 1,481,250,763 | 100% |
Halyk Bank (holding as treasury shares), unconsolidated | 217,249,849 | - | 217,249,849 | |||
Total issued | 1,308,415,960 | 390,084,652 | 1,698,500,612 |
The Bank plans to hold the repurchased common shares as treasury shares and currently does not have any intentions to resell them. Treasury shares are equivalent to cancelled shares as they do not carry any voting rights or any entitlement to dividends. Any resale of treasury shares will be required to follow the same authorization procedures as a new issuance out of authorized capital.
"This event is a good example of a mutually beneficial partnership between the Government and a private institution and the result of an efficient joint work of Samruk-Kazyna and Halyk Bank," said Umut Shayakhmetova, Halyk Bank's CEO. "Thanks to the Bank's strong financial performance, high liquidity and adequate capitalization levels and following achievement of the aims set by the Government's stabilization program, Halyk Bank jointly with Almex exercised the call option under the call option agreement in respect of Halyk Bank dated 15 January 2009."
About Halyk Bank
Halyk Bank is one of Kazakhstan's leading financial services groups and a leading retail bank with the largest customer base and distribution network among Kazakhstan banks. The Bank is developing as a universal financial group offering a broad range of services (banking, pensions, insurance, leasing, brokerage and asset management) to its retail customers, small and medium enterprises and corporate clients. As at 1 January 2011, Halyk Bank had total assets of KZT 2,098 billion and shareholders' equity of KZT 318 billion.
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For further information please contact:
Halyk Bank
Zhanara Aikimbayeva Director, International Department
Assel Atinova Head, Financial Institutions |
+7 727 259 07 96
+7 727 259 04 30 |