Materials of extraordinary Kazakhtelecom JSC general shareholders’ meeting as of 11.09.2017

Location: 12, Sauran St., Astana, Kazakhtelecom JSC conference hall

Time: 22 September 2017, 15-00pm.

Registration starts from 13-00 pm to 14-30 pm on 22 September 2017.

If quorum is absent, repeated shareholders’ meeting shall take place on 29 September 2017 at 15-00 pm on the address above.

THE AGENDA
of extraordinary Kazakhtelecom JSC
general shareholders’ meeting

Astana

22 September 2017

1. On approval of Threshold and purpose coefficients of Kazakhtelecom JSC financial stability on consolidated basis to period of 2017-2019 years.

DRAFT

RESOLUTION
of extraordinary Kazakhtelecom JSC
general shareholders’ meeting as of 22 September 2017 on issue № 1 of the agenda

«On approval of Threshold and purpose coefficients of Kazakhtelecom JSC financial stability» on consolidated basis to periods of 2017-201 years»

Pursuant to the Law «On Fund of national prosperity» and Policy of debt control and financial stability of Samruk—Kazyna JSC, approved on 27 January 2017 by Samruk-kzyna JSC Board of directors, extraordinary Kazakhtelecom JSC general shareholders’ meeting has RESOLVED:

To approve Thresholds and purpose coefficients of Kazakhtelecom JSC financial stability on consolidated basis to periods of 2017-2019 due to appendix to this resolution.

EXPLANATORY NOTE
to the draft of resolution of extraordinary Kazakhtelecom JSC
general shareholders’ meeting as of 22 September 2017 on issue № 1 of the agenda

«Оn approval of Thresholds and purpose coefficients of
Kazakhtelecom JSC financial stability on consolidated basis to periods of 2017-2019»

On 27 January 2017 by Board of directors of «Fund of national prosperity «Samruk-Kazyna» JSC (hereinafter as Fund) a Policy of debt control and Samruk-Kazyna JSC financial stability (hereinafter as Policy) has been approved in new version. The Policy has been approved as obligatory to use corporate standard as regards to legal entities, more than fifty percent of voting shares of which directly or indirectly are appropriated by the Fund.

Specifying threshold and purpose coefficients of Kazakhtelecom JSC financial stability

On 5 June 2017 Kazakhtelecom JSC (hereinafter as Company) received a letter with Board of directors Chairman errand (further BD) of the company to settle an issue on specifying thresholds and purpose financial stability coefficients (further FSC) on consolidated basis to periods of 2017-2019 to be considered by general shareholders’ meeting (further GSM). Settling this issue to the level of general shareholders’ meeting follows from the Law "On Fund of national prosperity", due to which Fund Board approves corporate standards as regards to legal entities, more than fifty percent of voting shares of which directly or indirectly are appropriated by the Fund. Fund approved Policy of debt control and Samruk-Kazyna JSC financial stability, which is obligatory corporate standard for Kazakhtelecom JSC and specifies approving of respective values by highest Company’s authority.

The following threshold and purpose values of FSC on consolidated basis for period 2017-2019 are offered for approval, determined by the Fund of the Company taking into account Policy norms and approved by Fund Board (Minutes №14/17 dated 25 May 2017):

Name

Purposed

Threshold

K1 Debt/ EBITDA

K2 EBITDA/Interest costs

not less

K3 Debt/ Equity

K1 Debt/ EBITDA

K2 EBITDA/interest costs

K3 Debt/ equity

Not more

Not more

Not more

Not less

Not more

Kazakhtelecom JSC

2,60

8,00

0,80

3,50

4,00

1,00

According to approved Policy threshold and purposed values of FSC can be revised once in 3 years and used as company’s financial stability instrument.

Thus, pursuant to resolution of Kazakhtelecom JSC Board of directors, minutes №6 dated 25 July 2017, also requirements of debt control Policy and Kazakhtelecom JSC financial stability, approved on 27 January 2017 by Samruk-Kazyna JSC Board of directors, an issue ‘On approval of threshold and purpose values of Kazakhtelecom JSC financial stability coefficients on consolidated basis to 2017-2019 to be considered by extraordinary shareholders’ meeting.

Application.docx
Extract from Fund Board Minutes.pdf
Extract from Fund Board of directors.pdf

Approved by BD Debt control Policy and financial 2017.02.21.073117.pdf

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