Completion of Placing

RNS Number : 6118O

KazakhGold Group Ltd

01 July 2010

 



NOT FOR DISTRIBUTION INTO THE UNITED STATES

These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities of the Company to be made in the United States would be made by means of a prospectus to be obtained from the issuer or selling security holder and that would contain detailed information about the Company and management, as well as financial statements. The Company does not intend to register any portion of the offering in the United States or conduct a public offering of the securities in the United States.

Completion of Placing

1 July 2010

KazakhGold Group Limited ("KazakhGold" or the "Company") today announces that it has successfully completed the previously announced US$100 million placing of new ordinary shares of KazakhGold ("Shares") and global depositary receipts ("GDRs") representing those Shares (the "Placing"). The Placing was originally announced as part of the partial offer for KazakhGold by OJSC Polyus Gold ("Polyus Gold") in 2009 and was subsequently delayed due to the requirement to obtain Kazakh government approvals for the Placing.  As part of the partial offer, Jenington International Inc. ("Jenington"), an indirect wholly-owned subsidiary of Polyus Gold, entered into an underwriting agreement with KazakhGold to underwrite the Placing at US$1.50 per Share.

A total of 51,194,922 Shares and 15,471,745 GDRs (each representing one Share) were placed at a price of US$1.50 per Share and per GDR. Jenington subscribed for 51,194,922 Shares and, as a result, will hold a total of 77,745,417 Shares, representing 65 per cent. of the issued share capital of the Company.

HSBC Bank plc acted as sole placement agent.

For further information please contact:

Alexey V. Chernushkin, Director, capital markets and IR

Evguenia V.Buydina, IR manager

[phone]

[phone]

[e-mail]

Anton A. Arens, PR Director

[phone]

[phone]

[e-mail]

HSBC Bank plc ("HSBC"), which is authorised and regulated in the United Kingdom by the FSA, acted solely for Kazakhgold and no one else in connection with the placing and will not regard as a client anyone (whether or not a recipient of this announcement) other than Kazakhgold in connection with the placing and will not be responsible to anyone (whether or not a recipient of this announcement) other than Kazakhgold for providing the protections afforded to its clients.

Apart from the responsibilities and liabilities, if any, which may be imposed on HSBC Bank plc by the Financial Services and Markets Act 2000, neither HSBC Bank plc nor any of its officers, employees, affiliates or agents accepts any responsibility whatsoever for, and makes no representation or warranty, express or implied, in relation to, the contents of this announcement (including its accuracy, completeness or verification) or any other statement made in connection with the placing and disclaims all liability therefor to the fullest extent permitted by law.

The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

END

 

 

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