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March 2, 2017, Almaty - BTA Bank JSC informs on the conclusion of the transaction on March 2, 2017

02.03.2017 00:00:00

March 2, 2017, Almaty - BTA Bank JSC informs on the conclusion of the transaction on March 2, 2017 regarding the non-binding Memorandum of Understanding regarding the Transaction which involves the fulfillment of obligations towards KKB hereinafter the (Transaction).

The parties of the Memorandum are, among others, the Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan, KKB, Halyk Bank, BTA Bank JSC and Mr. Kenes Rakishev, a major shareholder in KKB and BTA.

The Memorandum defines the scope and conditions under which the Transaction may be executed, as well as the actions to be taken by each party to achieve this. The terms of potential Transaction also involve coverage of possible risks associated with the loan of BTA Bank JSC to KKB.

BTA emphasizes that the Memorandum is not binding, and notes that the conclusion of the Memorandum does not mean the execution of the Transaction, for which further actions of the parties and fulfillment of certain suspensive conditions specified in the Memorandum are required.