Press releases

January 10, 2018
6

Media Statement regarding the Pre-judgement Attachment for Samruk-Kazyna’s shares in KMG Kashagan B.V.

January 9, 2018, Astana. Samruk-Kazyna JSC informs that on September 14, 2017 the pre-judgement attachment was levied on 50% shares in KMG Kashagan B.V. held by Samruk-Kazyna JSC as per decision of Amsterdam Court (the “Pre-judgement Attachment”).

The named Pre-judgement Attachment was levied as a security for claim on recognition and enforcement of the arbitral award issued in 2013 by Arbitral tribunal of the Arbitration Institute of the Stockholm Chamber of Commerce in the case of Anatolie Stati, Gabriel Stati, Ascom Group S.A. and Terra Raf Trans Trading Ltd. (“Claimants”) versus the Republic of Kazakhstan.

Samruk-Kazyna JSC was not a party to the arbitration proceedings between the Republic of Kazakhstan and the Claimants and the Arbitral tribunal did not issue any decision against Samruk-Kazyna JSC to make any payments towards the Claimants.

According to the Pre-judgement Attachment, the KMG Kashagan B.V. shares owned by Samruk-Kazyna JSC cannot be sold, transferred or encumbered as long as such Pre-judgement Attachment is in place. The Pre-judgement Attachment may be enforced only if the court adopts the decision on the recognition and enforcement of the Arbitral Award and applicability of said award against Samruk-Kazyna JSC or otherwise rules that the Claimants have a direct claim against Samruk-Kazyna JSC.

Samruk-Kazyna JSC retains all voting rights in respect to the shares in KMG Kashagan B.V. and the day-to-day management of KMG Kashagan B.V. is not affected, including fulfilment of payment and other obligations of KMG Kashagan B.V. in favor of third parties, save for payment of dividends to Samruk-Kazyna JSC.

In interim proceedings initiated by Samruk-Kazyna JSC on lifting the Pre-judgement Attachment, the Amsterdam Court on 5 January 2018 by way of a preliminary judgment ruled that the aforesaid attachment remains effective. This decision of Amsterdam Court does not create any additional restrictions to Samruk-Kazyna JSC rights in respect of KMG Kashagan B.V. shares.

Samruk-Kazyna JSC makes all necessary arrangements to protect its interest in accordance with the applicable procedure and will continue to vigorously defend its rights.


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Department of Public Relations and Marketing Communications of SWF Samruk-Kazyna JSC

e-mail: press@sk.kz

Phone.: +7 (7172) 55-27-10, 55-26-94

e-mail: press@sk.kz

Phone.: +7 (7172) 55-27-10, 55-26-94

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Contacts

SWF Samruk-Kazyna JSC
17/10,
Nur-Sultan, E-10 st,
Republic of Kazakhstan, 010000
Phone: +7 (7172) 55-27-10, 55-26-94

e-mail: press@sk.kz