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Friday 08 January, 2010

Temirbank JSC

Revised timetable for restruc

RNS Number : 2505F
Temirbank JSC
08 January 2010


Not for distribution into the United States





8 JANUARY 2010


Following the announcement on Friday 18th December 2009 the signature of a term sheet setting out revised terms for the proposed restructuring of JSC Temirbank, JSC Temirbank is pleased to confirm that the FMSA has approved the extension of its deadline for approval by creditors of a restructuring of JSC Temirbank from 30 December 2009 to 31 March 2010. This extension still has to be approved by the Specialised Financial Court of Almaty. A hearing is scheduled for Sunday 10th January 2010 and JSC Temirbank will make a further announcement after it receives the decision of the Court.

As before, all retail and commercial deposits (with the exception of certain related party deposits) and the bank's other operating liabilities, including advisors' fees will be excluded from the restructuring. Deposits will continue to operate in the normal way and will not be subject to any discounting or adjustment as a result of the restructuring.

Individual depositors continue to be protected under the state system of mandatory guarantees of deposits. In accordance with the relevant legislation of the Republic of Kazakhstan, the bank deposits of individuals in JSC Temirbank and other second tier banks are currently guaranteed up to the amount of KZT 5 million.  

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.

These 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.

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

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