KEGOC’s Board of Directors held a meeting in presentia on 26 April 2018

English

The meeting of KEGOC’s Board of Directors was attended by:

  1. Anatoliy Spitsyn, Director of the Institute of Strategic Studies of the Eurasian Economic Community Integration Problems, the Chairman of the Supervisory Board of Karagandy Compound Alloy Plant, Independent Director.
  2. Luca Sutera, Chief Financial Officer, member of NEBRAS POWER Management Board (Qatar Independent International Energy Company), Independent Director.
  3. Dominique Fache, member of the Board of Directors at Sophia-Antipolis Science Park, Chairman of RTF Board of Directors, Independent Director.
  4. Suinshlik Tiyessov, representative of Samruk-Kazyna, Member of KEGOC’s Board of Directors.
  5. Zhanna Yegimbayeva, representative of Samruk-Kazyna, Member of KEGOC’s Board of Directors.
  6. Bakytzhan Kazhiyev, Chairman of the Management Board, KEGOC

Independent Directors Janusz Bialec and Anatoliy Spitsyn are absent due to illness. However, Anatoliy Spitsyn participates in the meeting by providing a written opinion on the meeting agenda.

 

The meeting of the Board of Directors on 26 April 2018 considered 11 issues.

The information below is disclosed in accordance with the List of information to be disclosed to the shareholders and investors about the decisions made by the Board of Directors of KEGOC (the list was approved by the Board of Directors on 13 July 2017, Minutes No.6).

 

1.

Defining the List of KEGOC employees’ positions, to be elected or approved by KEGOC’s Board of Directors.

The Board of Directors decided to:

1.Define the List of KEGOC employees’ positions, to be elected or approved by KEGOC’s Board of Directors.

2.Nullify the List of KEGOC employees’ positions to be elected or approved by KEGOC’s Board of Directors, as approved by KEGOC’ Board of Directors’ decision (Minutes No. 11 dated 30 September 2016).

PRO - six;

CON - none;

ABSTAIN - none.

 

2.Consideration of the appointment of employees for positions to be elected or approved by KEGOC’s Board of Directors and determination of the amount of their salaries.

The Board of Directors decided to:

1.Approve the appointment of:

 - Bakytkhan Zhazykbayev as Managing Director for Operations;

- Askerbek Kuanyshbayev as Managing Director for Strategy and Development.

2.Determine, in accordance with the salary schedule for the Chairman and members of KEGOC's Management Board approved by KEGOC's Board of Directors' decision (Minutes No. 13 dated 05 December 2016), the official salaries of persons specified in paragraph 1 of this decision.

3.Instruct the Chairman of KEGOC’s Management Board Bakytzhan Kazhiyev to take the measures arising out of this decision under the established procedure. 

PRO - six;

CON - none;

ABSTAIN - none.

 

3. 

Early termination of powers of the member of KEGOC’s Management Board.

The Board of Directors decided to:

1.Early terminate the powers of the member of KEGOC’s Management Board Serik Ospanov from 26 April 2018.

2.Instruct the Chairman of KEGOC’s Management Board Bakytzhan Kazhiyev to take the measures arising out of this decision under the established procedure.

PRO - six;

CON - none;

ABSTAIN - none.

 

4.Review of the Progress Report on implementation of major investment projects for Q4 2017.

The Board of Directors decided to:

1.Take note of the major investment project progress report for 2017.

2.Instruct the Management Board to take a special control over the implementation of the Pavlodar Electricity Transmission Reinforcement Project and eliminate the existing delays.

3.Instruct the Chairman of KEGOC’s Management Board Bakytzhan Kazhiyev to take the measures arising out of this decision under the established procedure.

PRO - six;

CON - none;

ABSTAIN - none.

 

5.Consideration of the Report on executed material transactions and non-arm’s length transactions for Q1 2018.

The Board of Directors decided to take note of the Report on material transactions and non arm’s length transactions executed in Q1 2018.

PRO - six;

CON - none;

ABSTAIN - none.