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Board of Directors Meeting Results

27 June 2019
Board of Directors Meeting Results

JSC National Atomic Company “Kazatomprom” (“Kazatomprom”, or “the Company”) held a Board of Directors (“the Board”) meeting on 26 June 2019.

During the meeting, the Board made a decision to proceed with the early redemption of bonds (NIN KZ2C0M13F960) and on the issue of new bonds on the Kazakhstan Stock Exchange JSC, as was previously disclosed in the IPO Prospectus (November 2018). In addition, the Board approved changes to the Company's Executive Board.

Redemption and issuance of bonds

Kazatomprom announces the decision of the Board on early redemption of its bonds (NIN KZ2C0M13F960), and on determination of the conditions for issuing long-term coupon indexed bonds of Kazatomprom as follows:

1.  To repurchase all placed bonds of Kazatomprom (NIN KZ2C0М13F960) with a view to early repayment before 27 September 2019, in accordance with the main conditions:

  • Type of bonds (being repurchased): coupon indexed bonds without security
  • Volume of repurchase: 70,000,000 (seventy million) units
  • Nominal value per bond and currency of nominal value: 1,000 (one thousand) tenge
  • Nominal value of repurchase: 70,000,000,000 (seventy billion) tenge
  • Original maturity: 13 months from date of placement (maturity date: November 11, 2019)
  • Market of placement: unorganized securities market
  • The redemption of the bonds is made at an indexed nominal value simultaneously with the corresponding payment of accrued interest on the bonds

2. To cancel the issue of bonds of Kazatomprom (NIN KZ2C0М13F960) subject to the conditions for the redemption of all outstanding bonds of Kazatomprom.

3.  To determine the conditions for issuing long-term coupon indexed bonds of Kazatomprom and to issue them with the following main conditions:

  • Type of bonds (being issued): coupon indexed bonds without security
  • Volume of issuance: 70,000,000 (seventy million) units
  • Nominal value per bond and currency of nominal value: 1,000 (one thousand) tenge
  • Nominal value of issuance: 70,000,000,000 (seventy billion) tenge
  • Maturity: 61 months from the date of the first auction held for the bond placement.
  • Market of planned placement: organized securities market of the Kazakhstan Stock Exchange JSC

New composition of the Executive Board

The Board of Directors has appointed two new members to the Executive Board of the Company:

Dauren Kunanbayev, Chief Operations Officer. Mr. Kunanbayev has held senior positions in the commercial, state and quasi-public sectors for over 17 years. He has led the subsidiaries of Kazatomprom including TTK LLP and Betpak Dala LLP. He has been working at the corporate headquarters since December 2014, first as Managing Director for Production until July 2018, then as Managing Director for the Uranium Mining Division. In June 2019, he was appointed to the position of Chief Operations Officer of Kazatomprom. Mr. Kunanbayev has replaced Marat Nietbayev on the Executive Board following Mr. Nietbayev’s retirement from the position of Chief Operations Officer.

Beksultan Bekmuratov, Chief Transformation and IT Officer. Mr. Bekmuratov graduated from the Russian State University of Oil and Gas as an engineer. He has more than 10 years of experience in various positions, including Assistant General Director of Altyn-Kyran LLP, a safety specialist at Royal Dutch Shell, Transformation project office manager, and later as Director of Transformation projects portfolio management in Samruk-Kazyna JSC. He has been working at Kazatomprom as Chief Transformation and IT Officer since February 2018.

The composition of the Executive Board as at 27 June 2019:

For further information, please contact:

Kazatomprom Investor Relations Inquiries

Cory Kos, Head of Investor Relations
Tel: +7 7172 45 81 80
Email: ir@kazatomprom.kz

Kazatomprom Public Relations and Media Inquiries

Torgyn Mukayeva, Head of Public Relations and Internal Communication Department
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz

Powerscourt – London (Giles Read)
Tel: +44 20 7250 1446
Email: Kazatomprom@powerscourt-group.com

A copy of this announcement will be made available at www.kazatomprom.kz.

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23% of global primary uranium production in 2018. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets. All of the Company’s operations are located in Kazakhstan and mined using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.

Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).

For more information, please see our newly updated website at http://www.kazatomprom.kz

Forward-looking statements

All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALIZED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN. The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.

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