Results of the extraordinary General Meeting of KEGOC Shareholders

Results of Extraordinary General Meeting of  KEGOC Shareholders

On 28 October 2016, KEGOC held an extraordinary general meeting of shareholders to review several important issues. In particular, the meeting approved the distribution of net income, decision to pay dividend on ordinary shares, and the rate of dividend for the first half of 2016.

According to the interim financial statements of KEGOC for the first half of 2016, the company posted net income of KZT 16.2 billion.

The extraordinary general meeting decided to distribute 40% of the net income for the first half of 2016 (KZT 6.48 billion) among all holders of KEGOC ordinary shares which means ordinary a shareholder is entitled to receive twenty four tenge and ninety three tiyn (KZT 24.93) per ordinary share.

The list of shareholders, who have right to receive dividend for the first half of 2016, will be finalized on 13 November 2016 and the payment of dividend will start on 14 November 2016.

Additionally, the extraordinary general meeting decided to increase the number of members on the Board of Directors to eight (8). It elected the following members to the Board of Directors and their term of office shall be the same as the term of office of the Board of Directors of KEGOC in general:

1) Suinshlik Tiyessov, representative of Samruk-Kazyna;

2) Zhanna Yegimbayeva, representative of Samruk-Kazyna.

Suinshlik Tiyessov is a highly respected Power Engineer in the entire CIS region. He has worked in the power industry for years, has been awarded the Orders of Barys (II and III categories), Medals of the Republic of Kazakhstan, and importantly, the Letter of Appreciation from the President of Kazakhstan for his decades of service. Mr. Tiyessov also has years of experience in executive positions as a member of the board of directors in various companies, and has an impeccable business reputation. He possesses a wide range of knowledge, skills and competences in the areas of business strategy, and investment in addition to his profound theoretical and practical skills in human resources management.

Suinshlik Tiyessov supervised commissioning of power supply in Tengiz oil-gas field: construction of 240 MW gas turbine power plants, connection of 220 kV lines (1500 km) from Mangistau Power Complex to Uralskaya SS, set up of eight 110-220 kV substations, and restoration of Guryevsk CHPP.

As a first deputy minister for Energy and Coal Industry of the Republic of Kazakhstan, he managed the first development program for Restructuring, Privatisation and Reforms in the Power Industry. He also contributed largely in creation of competitive electricity market in the Republic of Kazakhstan, and implemented effective policies for crisis management in power industry during severe times of national economy slowdown.   

Zhanna Yegimbayeva has an extensive experience in legal jurisprudence and in executive positions. She has previously worked as Head of Legal Division at the Office of the President and the Cabinet of Ministers in the Republic of Kazakhstan; Deputy head of Prime-Minister’s Office of the Republic of Kazakhstan, , , and carries an impeccable business reputation. She has a wide range of knowledge, skills and competences, particularly, in the field of legal jurisprudence. She is an independent director of the Board of Directors of KazAgro National Management Holding as well. (From 02 June, 2016).

The members of the existing Board of Directors of KEGOC are:

Kuanysh Bektemirov, Chairman of the Board of Directors of KEGOC;

Suinshlik Tiyessov, representative of Samruk-Kazyna;

Zhanna Yegimbayeva, representative of Samruk-Kazyna;

Anatoliy Spitsyn, independent director;

Luca Sutera, independent director;

Janusz Bialek, independent director;

Dominique Fache, independent director;

Bakhytzhan Kazhiyev, Chairman of the Management Board of KEGOC.

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