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Wednesday 31 March, 2010

Temirbank JSC

Plan is approved at Noteholde

RNS Number : 5064J
Temirbank JSC
31 March 2010


(for immediate release)





31 MARCH 2010



1          JSC Temirbank (the "Bank") is very pleased to announce the results of the meetings of the holders of the following notes issued by the Bank:

U.S. $300,000,000 9.0% Sr. Notes due 2011 - 94.67% in favour;
U.S. $500,000,000 9.5% Sr. Notes due 2014 - 91.49% in favour.

2          Extraordinary resolutions were passed at each of the quorate meetings held today approving the Bank's Restructuring Plan. The Trustee is now instructed to vote the full Outstanding Amounts in relation to each series of notes in favour of the Restructuring Plan at the Creditors' Meeting to be held at 4.30 p.m. (Almaty time) today.

3          Notes that have been blocked in the accounts of Direct Participants were released to the Direct Participants by the Clearing Systems on the conclusion of the meetings held today.

4          Restructuring Creditors are referred to the Information Memorandum, Supplemental Information Memorandum dated 9 March 2010 and the Second Supplemental Information Memorandum dated 11 March 2010 for a full description of the Restructuring.  Capitalised terms used in this press release and not otherwise defined in it shall have the meanings given to them in the Information Memorandum, the Supplemental Information Memorandum and the Second Supplemental Information Memorandum.

Nothing in this press release should be relied on for any purpose. In particular and without limitation, nothing in this press release, the Information Memorandum, the Supplemental Information Memorandum or any other document issued with or appended to it should be relied on in connection with the purchase of any shares, securities or assets of the Bank (including but not limited to the Amended Notes). This press release is not an offer of securities in the United States.  Securities may not be offered or sold in the United States absent registration or an exemption from registration.


Restructuring Creditors may direct any queries they have regarding the restructuring to either:

The International Department of the Bank by email at [email protected] or by telephone at +7 727 259 0528 or +7 727 258 7829; or

The Information Agent: Thomson Reuters by email at [email protected] or by telephone to any of Ellis Farrell + 44 207 542 8775, Christina Mermiga + 44 207 542 5836 or Melina Bobbio + 44 207 542 9013 or by post to Thomson Reuters, 30 South Colonnade, Canary Wharf, London, UKE14 5EP.

This information is provided by RNS
The company news service from the London Stock Exchange

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