Business
Consent solicitation
Consent solicitation.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 7501O KazakhGold Group Ltd 02 July 2010 \n \n\n2 July 2010 - KazakhGold Group Limited (the \"Issuer\") announced today that it has commenced a consent solicitation in respect of its U.S.$200,000,000 9.375 per cent. Senior Notes due 2013 (the \"Notes\"). The final voting deadline for submission of electronic voting instructions in relation to the consent is 3:00 p.m. (London time) on 23 July 2010.\n \nOn 30 June 2010 the Board of the Issuer and Polyus Gold announced the Proposed Combination of the Issuer and OJSC Polyus Gold (the \"Proposed Combination\"), which, if completed, would result in the Issuer acquiring all or substantially all of the issued share capital of Polyus Gold. Following completion of the Proposed Combination, Polyus Gold will become a subsidiary of KazakhGold, and KazakhGold, subject to shareholder approval, will be renamed ''Polyus Gold International Limited'', a leading international gold company with a single London listing. \n \nThe purpose of the consent solicitation is to obtain the consent of Noteholders (which consent shall remain valid until 31 December 2010) (1) to waive certain existing breaches by the Issuer under the terms and conditions of the Notes; (2) to waive pre-emptively certain breaches of the terms and conditions of the Notes that are expected to arise in connection with the Proposed Combination, and (3) to waive pre-emptively any default or event of default that may arise as a result of any restructuring, redomiciliation or liquidation of the Issuer's subsidiary Romanshorn LC AG. \n \nThe proposed waivers are described in more detail in the Consent Solicitation Statement dated 2 July 2010. The Consent Solicitation Statement will only be made available in electronic form, and will only be provided to and may only be acted upon by Noteholders which have confirmed that they are not a U.S. Person (within the meaning of Regulation S under the US Securities Act of 1933 as amended) or acting on behalf of a U.S. Person or physically located in the United States, its territories and possessions. \n \nThe Issuer will consider exercising its right arising on or after 6 November 2010 under Condition 5(b) of the Notes to redeem the Notes at a redemption price equal to 104.688 per cent. of the principal amount of the Notes plus a...