KazakhGold Group Limited Consent Solicitation Notification
06/12/2007 23:15
PR Newswire
LONDON, December 6 /PRNewswire/ --
KazakhGold Group Limited (the "Issuer") announced on November 23, 2007,
that it commenced a consent solicitation (the "Proposals") of holders of its
outstanding US$200,000,000 9.375% Notes due 2013 (the "Notes"). The meeting
of Noteholders to approve the Proposals is scheduled at 5 p.m., London time,
on December 19, 2007. Noteholders are invited to deliver an Electronic Voting
Instruction on or before 5 p.m. (London time) on December 17, 2007 (the
"Final Voting Deadline").
The principal purpose of the Proposals is to modify the terms of the
Notes in order to allow the Issuer to raise subordinated hybrid capital to
accelerate production from existing undeveloped mine assets. The proposed
amendments are described in more detail in the Consent Solicitation Statement
dated November 23, 2007. If all of the conditions to the Consent Solicitation
Statement have been satisfied, the Issuer will make a consent payment of
US$10.00 for each US$1,000 principal amount validly consented and not
revoked.
Holders can obtain additional electronic copies of the Consent
Solicitation Statement and related material from the Tabulation Agent, The
Bank of New York, at +44-(0)-20-7964-4958 or via e-mail at
eventsadmin@bankofny.com. The Issuer has retained HSBC Bank plc ("HSBC") to
act as sole Solicitation Agent. Holders with questions about the consent
solicitation can contact HSBC at +44-(0)-20-7991-5880 or via e-mail at
kazakhgold-consent@hsbcib.com. In connection with the Proposals, the Issuer
has composed a company presentation providing an update of business
operations and the rationale for the raising of additional capital. This
presentation is available on NetRoadshow's website www.netroadshow.com, for
which the password can be obtained on request from HSBC.
This press release is not a solicitation of consents nor shall it be
deemed a solicitation of consents with respect to any securities. The consent
solicitation will be made solely by the Consent Solicitation Statement dated
November 23, 2007.
HSBC Bank plc, +44-20-7991-5880, for KazakhGold Group Limited