Key Developments: Kazakhmys PLC (KAZ.L)

KAZ.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kazakhmys PLC announces completion of acquisition
Tuesday, 17 Jun 2014 04:49am EDT 

Kazakhmys PLC:Completes acquisition of Koksay, the Group's third major growth project.Purchase price is $260 mln in cash.  Full Article

Kazakhmys confirms acquisition of Koksay from CCC mining construction B.V
Tuesday, 15 Apr 2014 05:15am EDT 

Kazakhmys PLC:Concludes agreement for purchase of Koksay growth project from CCC Mining Construction B.V.Net acquisition cost will be $260 mln in cash, of which $65 mln is deferred.Of the deferred consideration, $30 mln is payable on Jan. 01, 2015 and $35 mln on July 31, 2015.  Full Article

Kazakhmys announces completion of disposal of remaining 50 pct holding in Ekibastuz GRES-1
Tuesday, 1 Apr 2014 04:37pm EDT 

Kazakhmys PLC:Completes disposal of remaining 50 pct holding in Ekibastuz GRES-1 to Samruk-Energo.Net funds received $1.25 bln.  Full Article

Kazakhmys PLC's board declares dividend for half year 2013
Thursday, 27 Feb 2014 02:00am EST 

Kazakhmys PLC:Paid dividends of 8.0 US cents per share ($42 million) during the first half of 2013.  Full Article

Kazakhmys PLC to sell 50 pct of Ekibastuz LLP and 100 pct of Kazhydro to Samruk-Energo
Monday, 9 Dec 2013 02:00am EST 

Kazakhmys PLC:Says it has entered into an agreement to sell to Samruk-Energo the Group's remaining 50 per cent. interest in Ekibastuz LLP and 100 per cent. of the issued share capital of Kazhydro for gross consideration of $1,300 million in cash, subject to certain consents, approvals and conditions.Says Samruk-Energo is a wholly-owned subsidiary of Samruk-Kazyna, which is ultimately beneficially owned by the Government.Says the principal asset in the transaction is Ekibastuz GRES-1, a power station in Kazakhstan.Says based on the terms of the Transaction, Kazakhmys will receive net proceeds of about $1,249 million in cash, which will substantially strengthen the Group's financial position during the development phase of the Group's copper growth projects, Bozshakol and Aktogay.Says the Transaction will be conditional upon, inter alia, the approval of a majority of independent Shareholders and on the approval of the relevant governmental authorities in Kazakhstan.  Full Article

Kazakhmys PLC Update On Indicative Proposal For ENRC
Monday, 20 May 2013 02:53am EDT 

Kazakhmys PLC announced that with reference to the announcement made on May 20, 2013, by the Independent Committee of the Board of ENRC setting out the terms of the indicative proposal made by the Consortium with regard to a potential public offer for the shares in ENRC that the Consortium does not already hold (the Announcement). The Board of Kazakhmys announced that the Kazakhmys shares that the Announcement indicates will be used as part of the consideration for such an offer represent the entire existing 26% shareholding of the Government of Kazakhstan, one of the Consortium members (the Consideration Shares), in Kazakhmys, and does not involve Kazakhmys issuing any new shares. Kazakhmys itself is not part of the Consortium. For Panel purposes only, Kazakhmys is being treated as a party to the Offer for the purposes of the Code and Kazakhmys relevant securities are subject to the requirements of Rule 8 of the Code. The Board of Kazakhmys has made clear that the shares that it holds in ENRC are not considered a strategic investment and the Board will give due consideration to any proposal made by the Consortium to shareholders at the appropriate time.  Full Article

Kazakhmys PLC Recommends Final Dividend
Tuesday, 26 Mar 2013 03:00am EDT 

Kazakhmys PLC announced that the Directors recommend a final dividend for 2012 of 8.0 US cents per share, which together with the interim ordinary dividend of 3.0 US cents per share, gives a total full year dividend of 11.0 US cents per share (2011: 28.0 US cents per share), based on the earnings for 2012. Subject to the approval of the shareholders at the Annual General Meeting to be held on May 17, 2013, the final dividend shall be paid on May 21, 2013.  Full Article

Kazakhmys PLC Announces Appointment Of New Chief Financial Officer
Thursday, 28 Feb 2013 02:02am EST 

Kazakhmys PLC announced that Matthew Hird has decided to step down as Chief Financial Officer (CFO) in May 2013, to coincide with the forthcoming Annual General Meeting, having spent six years in the role. Andrew Southam, the current Deputy CFO, will become CFO. To ensure a smooth transition, Matthew will remain with the Group until the end of the year.  Full Article

Kazakhmys plc Announces Interim Dividend
Thursday, 23 Aug 2012 02:01am EDT 

Kazakhmys plc announced that the Directors have declared an interim ordinary dividend in respect of the period ended June 30, 2012 of $0.03 per share ($16 million). The interim dividend in US dollars and Hong Kong dollars will be paid on October 3, 2012 to shareholders who hold their shares on the Hong Kong Stock Exchange (Hong Kong register of members) at the opening of business on September 7, 2012 (the Hong Kong record date).  Full Article

UPDATE 2-Kazakhmys says government agrees tax cut on older assets

* Kazakhmys plans to split company in two (adds analyst comment, details)

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