2 Sep 2015 09:30
Kcell JSC
Kcell JSC announces change to its Board of Directors
Almaty, 2 September 2015 - JSC Kcell ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading operator in the telecommunications market of Kazakhstan in terms of revenues and subscriber base, announces that Berndt Kenneth Karlberg, Member of the Board of Directors, has informed the Kcell Board of Directors of the early termination of his powers with effect from 31 August 2015.
The Board of Directors is seeking a replacement for Mr. Karlberg and will announce further details in due course.
As of 31 August 2015, 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; Vladimir Smirnov - Member of the Board of Directors, Independent Director; Erik Hallberg - Member of the Board of Directors; Ingrid Stenmark - Member of the Board of Directors; Douglas Lubbe - Member of the Board of Directors.
Enquiries:
Kcell | |
Investor Relations | |
Irina Shol | Tel: +7 727 2582755 ext. 1002 Investor_relations@kcell.kz |
Media Natalya Eskova |
Теl: +7 727 2582755 Pressa@kcell.kz |
International Media | |
Instinctif Partners | Tel: +44 207 457 2020 |
Leonid Fink, Jenny Payne, Kay Larsen |
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. TeliaSonera holds directly and indirectly 61.9% of the Company's common shares.
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 network to expand coverage. 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.