AKIPRESS.COM - Alliance Bank said the Specialised Inter-district Economic Court of Almaty has confirmed restructuring proceedings relating to U.S.$1.3 billion of the Bank’s financial indebtedness following the implementation by the Bank of all actions contemplated by the Restructuring Plan.
As the Bank announced earlier, the Restructuring Plan had previously been approved by the Bank’s shareholders holding 99.7% of the voting common shares and preference shares of the Bank represented at the extraordinary general meeting held on 10 November 2014 and by its creditors holding approximately 90.5 per cent. of the financial indebtedness subject to the Restructuring Plan at the creditors’ meeting held on 19 November 2014.
Alliance Bank JSC is the tenth largest bank in terms of assets in Kazakhstan, developing as a universal financial institution in all business segments, primarily focusing on the retail market and SME lending. Bulat Utemuratov is the main shareholder of the Bank, who owns 74.84% of common shares and 20.02% of preference shares of the Bank. Samruk-Kazyna owns 0.01% common shares and 51% preference shares of the Bank.
The minority interest is 25.15% common shares and 28.98% preference shares.