KCEL.L Regulatory News (KCEL)

Kcell JSC announces results of 2021 Annual General Meeting of Shareholders

Almaty, 25 May 2021 - Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL; AIX: KCEL, KCEL.Y), the leading provider of mobile telecommunications services in Kazakhstan, announces the results of its Annual General Meeting of Shareholders ("AGM"), held on 24 May 2021.

The AGM unanimously adopted the following decisions:

1. To approve Kcell JSC IFRS Separate and Consolidated Financial Statements for the year ended 31 December 2020.

2. To approve the following order for the distribution of Kcell net income for 2020

2.1. To distribute KZT 17,578 million, representing 100 percent of the consolidated net income, as dividends for 2020.

2.2. To approve the size of the 2020 dividend in the amount of KZT 87.89 per ordinary share or global depository receipt (GDR).

2.3. To set the record date for shareholders entitled to receive the dividends - the first business day from the date of the Annual General Meeting of Shareholders (25 May 2021 (00:00 AM Almaty time)).

2.4. To set the date to start payment of dividends on ordinary shares and GDRs for 2020 on the first business day from the record date of shareholders entitled to receive the dividend and during the next thirty calendar days. To approve the order dividend payment: one-time payment.

2.5. Kcell's details for the dividend payment on ordinary shares and GDRs are as follows: Kazakhstan, 050051, Almaty, mcr. Samal-2, 100; Bank account details: BIN 980540002879, BIC HSBKKZKX IBAN KZ676010131000050732 with Halyk Bank of Kazakhstan JSC, Kbe 17.

2.6. To approve the payment form of dividends on ordinary shares through the paying agent - Central Securities Depository JSC, and on global depositary receipts of Kcell JSC - directly by the Company, by non-cash payment to bank account.

3. To approve the Kcell JSC Corporate Governance Code in the new edition. To deem void Kcell JSC Corporate Governance Code dated 15 January 2020. The new edition of Kcell JSC Corporate Governance Code is available on the Company's website at: https://investors.kcell.kz/en/article/show/3471/false?navipageId=2499

4. To take into account Company's report on shareholder requests regarding the performance of Kcell JSC and its executives and results of their consideration.

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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 (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.

Kcell plans to continue investing in the deployment of its 3G/4G network to expand coverage and to introduce high quality services. Kcell aims to provide high quality services at competitive prices, expand its offering of products and services, while maintaining the high quality of its network and enhancing its brand value.