Zhaikmunai Board Approves a GDR Buy-Back Programme

RNS Number : 5626X

Zhaikmunai LP

11 February 2013

 

Zhaikmunai Board Approves a GDR Buy-Back Programme

Amsterdam, 11 February 2013. Zhaikmunai L.P. ("Zhaikmunai" or the "Partnership") is pleased to announce that the Board of Directors of its general partner, Zhaikmunai Group Limited, has considered a GDR buy-back programme and submitted the following suggestions to the limited partners of the Partnership for their approval by special resolution:

(1) a proposal that the Partnership be granted a general authorization to purchase Zhaikmunai Global Depositary Receipts (GDRs) listed on the London Stock Exchange and Zhaikmunai partnership interests, and

(2) certain amendments to Zhaikmunai's limited partnership agreement be made to allow for the initiation of such a GDR buy-back programme.

The Board intends to distribute to Zhaikmunai's limited partners a notice and a circular convening a general meeting of limited partners on Thursday, 28 March 2013 in Amsterdam to consider and vote upon the matters mentioned above.

Further information

For further information please visit www.zhaikmunai.com

Further enquiries

Zhaikmunai LP - Investor Relations

Bruno G. Meere

Kirsty Hamilton-Smith

[e-mail]                         + 44 (0) 1624 68 21 79 

Pelham Bell Pottinger

Philip Dennis

Elena Dobson                                                             + 44 (0) 207 861 32 32 

About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field.

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

 

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