Kazakhstan’s Alliance Bank’s plan part of Nov. 10 shareholder meeting

By Caroline Salls

Pittsburgh, Oct. 23 – JSC Alliance Bank, JSC ForteBank and JSC Temirbank will hold a joint extraordinary general shareholders’ meeting on Nov. 10, according to a notice to shareholders of the banks.

Agenda items for the Nov. 10 joint meeting include:

• Approval of the plan for the restructuring of Alliance Bank’s debt;

• Approval of the voluntary reorganization of the three banks by way of the consolidation of ForteBank and Temirbank into Alliance Bank;

• Approval of the increase of the number of authorized common shares in Alliance Bank for placement to the shareholders of ForteBank and Temirbank and the creditors of Alliance Bank;

• Approval of the placement of common shares;

• Approval of the procedure and the terms of the exchange of shares in ForteBank and Temirbank for common shares in Alliance Bank and the approval of the exchange ratios;

• Approval of the transfer of the property of ForteBank and Temirbank to Alliance Bank within the framework of the reorganization;

• Approval of share price determination methodologies in connection with a share buyback;

• Consent to the termination of the corporate governance provisions of a deed poll made by JSC Sovereign Wealth Fund Samruk-Kazyna; and

• Approval of amendments to Alliance Bank’s regulations of the board of directors.

If no quorum is achieved at the Nov. 10 meeting, the joint meeting will be held on Nov. 11, according to the notice.

Alliance Bank is focused on small and medium enterprises and the retail segment. It is based in Almaty, Kazakhstan.

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