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KazakhGold holders consent to changes for $200 million 9 3/8% notes
By Jennifer Chiou
New York, June 17 - KazakhGold Group Ltd. announced that holders of its $200 million of 9 3/8% senior notes due 2013 voted to pass an extraordinary resolution and waiver at a June 17 meeting in London.
According to a company news release, the trust deed was altered to waive preemptively certain breaches of the terms and conditions of the notes that are expected to arise in connection with a possible combination between KazakhGold and OJSC Polyus Gold.
The amendments also waive any default or event of default that may arise as a result of any restructuring, redomiciliation or liquidation of KazakhGold subsidiary Romanshorn LC AG.
The changes further waive breaches that may arise due to the entry into a restated and amended principal agreement by KazakhGold and AltynGroup Kazakhstan LLP.
Consents pertaining to KazakhGold and OJSC Polyus Gold remain in effect until Dec. 31, 2012.
Of the total 172,004,000 votes cast at the meeting, 171,054,000 were in favor of the resolution.
Questions may be directed to Evguenia V. Buydina (44 208 528 1020 or ir@kazakhgold.com) and Anton A. Arens (44 208 528 1450 or anton.arens@kazakhgold.com).
Stepnogorsk, Kazakhstan-based KazakhGold is the holding company of gold miner Kazakhaltyn.
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