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19 Jan 2009 08:19
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19Β JanuaryΒ 2009
Joint Stock CompanyΒ "HalykΒ SavingsΒ Bank ofΒ Kazakhstan"
Notice on Off-shore Jurisdictions
Dear shareholders,
Joint Stock Company "Halyk Savings Bank of Kazakhstan"Β (the "Bank")Β (LSE: HSBK)Β herebyΒ informsΒ thatΒ in accordance with part one of Article 17.5 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan" (the "Law"), legal entities registered in off-shore jurisdictions or legal entities which have affiliates registered in off-shore jurisdictions or individuals who are participants (shareholders) in legal entities registered in off-shore jurisdictionsΒ except for banks which have individual credit rating not below "A" from one of the rating agencies which list isΒ approvedΒ by the competent authorityΒ cannot directly or indirectly own and/or deal with voting sharesΒ of the banks-residents of the Republic of Kazakhstan.Β
The list ofΒ theΒ abovementioned off-shore jurisdictions has been approved by the resolution #Β 145Β of the Agency of the Republic of Kazakhstan onΒ Regulation and Supervision of FinancialΒ Market andΒ FinancialΒ Organizations dated 2Β OctoberΒ 2008Β "On approval of the list of off-shore jurisdictions for the purposes of banking and insurance activities, activities of professional participants of securities market and other licensable activities on securities market,Β activities ofΒ pension funds and joint-stock investment funds"Β (the "Resolution")Β and includesΒ the followingΒ off-shore jurisdictions:
1)Andorra;Β 2)Β Antigua and Barbuda; 3)Β the Bahamas: 4)Β Barbados; 5)Β Belize; 6)Β Brunei; 7)Β Vanuatu; 8)Β Guatemala; 9)Β Grenada; 10)Β Djibouti; 11)Β Dominican Republic; 12)Β Indonesia; 13)Β Spain (only Canary Islands); 14)Β Cyprus; 15)Β China (onlyΒ Hong Kong Special Administrative Region and MacauΒ Special Administrative Region); 16)Β Comoros; 17)Β Costa Rica; 18)Β Malaysia (onlyΒ Labuan Enclave); 19) Liberia; 20) Lichtenstein; 21)Β Mauritius; 22)Β Portugal (onlyΒ Madeira Island); 23)Β Maldives; 24)Β Malta; 25)Β the Marshall Islands; 26)Β Monaco; 27)Β the Union ofΒ Myanmar; 28)Β Nauru; 29)Β the Netherlands (onlyΒ ArubaΒ and the Antilles); 30)Β Nigeria; 31)Β New Zealand (onlyΒ Cook IslandsΒ andΒ Niue); 32)Β Palau; 33) Panama; 34)Β Samoa; 35)Β Seychelles; 36)Β Saint Vincent and the Grenadines; 37)Β Saint Kitts and Nevis; 38)Β SaintΒ Lucia; 39)Β United Kingdom of Great Britain and Northern Ireland (only Anguilla,Β Bermuda,Β British Virgin Islands,Β Gibraltar,Β Cayman Islands,Β Montserrat,Β Turks and Caicos Islands,Β Isle of Man, Channel Islands (Guernsey,Β Jersey, Sark, Alderney)); 40)Β theΒ United States of America (onlyΒ U.S. Virgin Islands,Β Guam,Β Puerto Rico); 41) Tonga; 42)Β Philippines; 43)Β Sri Lanka.
Please also be informed that the Law of the Republic of Kazakhstan "On amendments and addendums to certain legislative acts of the Republic of Kazakhstan on stability of the financial system" dated 23 October 2008 stipulates the new requirement for the Bank's shareholders intending to participate in the general shareholders' meeting to provide a statement certifying the compliance by their shareholders (participants) with the abovementioned requirements of the Law in case the Bank has no information on state of registration of such shareholders (participants).
The shareholders who do not provide such statement will not be eligible to participate in theΒ generalΒ shareholders'Β meeting.
In caseΒ it has beenΒ detected thatΒ theΒ statement contains incorrectΒ informationΒ or there has been a breach of the abovementioned requirements of the Law:
ifΒ theΒ majority of voting sharesΒ (exceptΒ forΒ voting shares of theΒ shareholderΒ who provided the statement) voted for theΒ resolution,Β the resolution ofΒ theΒ generalΒ shareholders'Β meetingΒ is considered to be adopted withoutΒ the votesΒ of this shareholder;Β
if the vote of the shareholder who provided the statement was a decisive vote, this can be a basis to consider the resolution of the general shareholders' meeting as invalid at the request of the competent authority or any other interested parties in the order stipulated by the legislation of the Republic of Kazakhstan.
The Resolution came into forceΒ onΒ 8Β December 2008Β andΒ stipulatesΒ the requirementΒ forΒ theΒ shareholders of financial organizationsΒ existingΒ as atΒ the dateΒ ofΒ enforcement of the ResolutionΒ (the "existing shareholders")Β andΒ registered inΒ off-shore jurisdictionsΒ set byΒ the ResolutionΒ toΒ adjustΒ their activityΒ in accordance withΒ the requirements ofΒ the ResolutionΒ byΒ 1Β April 2009.Β ThisΒ provision impliesΒ that byΒ 1Β AprilΒ 2009Β the existing shareholders or theirΒ affiliates, or legal entities participants (shareholders)Β of whichΒ are existing shareholders-individuals,Β as well asΒ participants (shareholders)Β of existing shareholdersΒ are subject toΒ the requirements of theΒ Resolution only in respect of the former list of off-shore jurisdictions which includedΒ Andorra, Lichtenstein, Liberia, Monaco and the Marshall Islands.Β Therefore,Β in order toΒ keep the shareholderΒ rightsΒ including theΒ right to participate in management ofΒ the Bank, the existing shareholdersΒ are required to adjust their activity and activity of the abovementioned persons in accordance with the requirements of the Resolution in respect of state of registration by 1 April 2009.Β
The Resolution applies to otherΒ prospectiveΒ shareholdersΒ of the BankΒ without exceptionsΒ starting from 8 December 2008.
Β Β
-Β ENDSΒ -
For further information please contact:
|
Halyk Bank Β Zhanara AikimbayevaΒ Director, International Department Assel AtinovaΒ Head, Financial Institutions |
+7Β 727Β 259 07 96 +7Β 727Β 259 04 30 |
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