28 Dec 2018 09:00
Kcell JSC
Resignation of Non-Executive Directors, representatives of shareholders Fintur Holdings B.V. and TeliaSonera Kazakhstan Holding B.V.
Almaty, 28 December 2018 - JSC Kcell ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunication services in Kazakhstan, announces that the Non-Executive Directors who were representatives of shareholders Fintur Holdings B.V. and TeliaSonera Kazakhstan Holding B.V. - Douglas Lubbe, Emil Nilsson, Fredrik Nissen and Peter Lav - have notified the Company of their resignation as Members of the Board of Directors of Kcell JSC effective from 21 December 2018, the date of completion of the transfer of 75 percent of ordinary shares in Kcell JSC to the account of Kazakhtelecom JSC.
As of 21 December 2018, the acting Members of the Kcell Board of Directors are as follows: Jan Rudberg - Chairman of the Board of Directors, Independent Director; William Aylward - Member of the Board of Directors, Independent Director; and Vladimir Smirnov - Member of the Board of Directors, Independent Director.
Contacts
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Investor Relations |
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Irina Shol | tel: +7 727 2582755, ext. 1002 Investor_relations@kcell.kz |
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Media Natalya Eskova |
tel: +7 727 2582755, ext. 1902 Pressa@kcell.kz |
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International media |
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Instinctif Partners | tel: +44 207 457 2020 |
Kay Larsen, Galyna Kulachek |
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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, 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.