“BTA Bank” JSC Calls General Shareholders’ Meeting to Consider the Necessity of Restructuring its Liabilities22.12.2011
Almaty, December 22, 2011 Today BTA Bank (the “Bank”) announced that in accordance with Resolution No.51 of the Board of Directors dated December 19, 2011 a general shareholders’ meeting of the Bank is called to be held on January 26, 2012 in Almaty.
The agenda for the general shareholders’ meeting includes issue relating to the necessity to restructure certain parts of the Bank’s financial indebtedness in order to reach an arrangement with its creditors. The proposed restructuring will relate to the Bank’s liabilities to its creditors under outstanding obligations entered into during the restructuring completed in 2010.
In calling the meeting the Bank took into consideration interests of its creditors, shareholders and holders of its GDRs.
Restructuring is an urgently needed measure which if timely taken should ensure further normal functioning of the Bank, strengthen its financial condition and potentially restore its position in the market.
Servicing deposit transactions, payments under loan commitments to its customers, money transfers by individuals and legal entities as well as payment card transactions will continue to be made in the ordinary course.
Queries of GDR holders regarding the Bank’s general shareholders’ meeting may be directed to: mailto:BTA.GDRS@lazard.fr
Tel: +7 (727) 266 26 03
Fax: +7 (727) 250 02 04