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PRESS RELEASE
09.06.2009
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Further to the press release dated 19th May, JSC Astana Finance (hereafter Astana Finance or the Company) would like to inform creditors of the following.
A list of Questions and Answers will be published on the Company`s website today, addressing the main questions raised by investors following the announcement of the suspension of payments and to outline the next steps.
The Company also takes the opportunity to inform creditors that it has requested Deloitte to review the group's results for the first four months of 2009, a process which is expected to be completed within two weeks.The Company has also engaged Ernst & Young to perform a detailed financial due diligence on the group’s credit portfolio as of 30 April 2009. The due diligence process is expected to take eight to twelve weeks. The results of the review and due diligence will be communicated to creditors as soon as they are available.
In the meantime, the Company`s audited consolidated full year results for 2008 have been published on 5th of June 2009 and are available on the Company`s website.
The Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organisations has made a decision, effective from 3 June 2009, to suspend each of the broker-dealer licence, licence for investment management activity and licence to carry out lending activity of Astana Finance. The suspension is for a period of three months, which the Company understands will coincide with the period set by the regulator for the development of a restructuring proposal to be presented to the regulator and the Company`s creditors.
Finally, Astana Finance and its advisors continue to work on the analysis of the Company`s financial position and the development of a restructuring proposal. Ahead of the commencement of discussions with creditors and with a view to assist the creation of a creditors` co-ordination committee, we would request each creditor to complete the Creditor Registration Form available on http://www.af.kz/en/investors/infofor_creditors/ and to send a completed form to the following address:
af.creditor.registration@jpmchase.com.
01.06.2010
In anticipation of the International Children's Day Astana Finance JSC following principles of humanism, ideals of goodness and justice made donations to Children’s Charity Fund "Ymit-Nadezhda" in Kokshetau.
Press Service of Astana Finance JSC,
06.05.2010
For immediate release: JSC Astana Finance (the Company) wishes to announce the appointment of the following members of the Management Board of the Company with effect from 5 May 2010:
Press service,
06.05.2010
May 5, 2010 saw the meeting of the Board of Directors of "Astana-Finance" JSC (hereinafter - the "Company") on which the decision on staff changes in the management bodies of subsidiaries was taken.
Press service,
06.05.2010
The Board of Directors of "Astana – Finance" JSC (further – the "Company") situated at the following address: 010000, the Republic of Kazakhstan, Astana, 12 Bigeldinov str., has taken a decision on holding an extraordinary general meeting of the shareholders of "Astana – Finance" JSC with the following agenda: Composition of the Board of Directors of "Astana – Finance" JSC.
Press service,
13.04.2010
FSA signed an agreement with the members of Bank-Conglomerate Astana Finance
Press service,
updated 11.06.2009
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