Almaty, Kazakhstan – November, 13 2009 – Kazakhstan Kagazy plc (the “Company”, and together with its subsidiaries, the “Group”) has begun constructive discussions with the Group’s lenders regarding the restructuring of the Group’s loan facilities. It is the Company’s intention that by 31 January 2010 it will have agreed a restructuring plan with the Group’s lenders which will provide a firm basis for the Group to operate in the future.
To assist the Company in its restructuring plan the Board has appointed SP Angel Corporate Finance LLP to act as financial adviser.
The Board notes that if a restructuring plan is not agreed with the Group’s lenders, the ongoing prospects of the Group will be uncertain.
A further announcement will be made in due course.
Enquiries
Kazakhstan Kagazy
Alessandro Manghi
Chairman +7 727 244 8787
SP Angel Corporate Finance LLP
John Mackay
David Facey
Bruce Fraser
+44 20 7647 9650