Norton Rose advises LSE-listed Kazakhstan mining group on US$50m rescue share issuance
9 September 2010

International legal practice, Norton Rose Group, is advising ShalkiyaZinc N.V on a US $50 million rescue share issuance to SAT & Company, a Kazakhstan industrial holding group active in the metallurgy and petrochemical industries.

ShalkiyaZinc N.V. is a Kazakhstan mining group listed on the London Stock Exchange, which holds mining rights to the fifth largest zinc deposit in the world. This transaction was announced to the market on 4 August 2010.

SAT will invest US $50 million in ShalkiyaZinc in return for an equity interest equal to 81.39% of the enlarged issued share capital of ShalkiyaZinc. Completion of the transaction will trigger a mandatory tender offer to ShalkiyaZinc’s GDR holders. The transaction is supervised by the UK Takeover Panel and the Dutch Authority for the Financial Markets (AFM), who have agreed to share jurisdiction in this matter.

The Norton Rose Group team is being led by corporate finance partner Andrei Yakovlev (who also led a legal team advising ShalkiyaZinc on its 2007 IPO on the London Stock Exchange), assisted by corporate finance associates Anna Roberts, Linda Whittle, Jessica Merton and Alexander Tuzenko in Norton Rose Group's London and Moscow offices. Dutch law advice is led by Amsterdam corporate finance partner Marcel van de Vorst, assisted by Otto Klaassen and Annette van Beers. Notary and Amsterdam based partner Geert-Jan van Rijthoven, assisted by Aileen van Driel, advised on the Dutch notarial aspects of the transaction.

Renaissance Capital Limited is acting as financial adviser to SAT and Houlihan Lokey (Europe) Limited is acting as financial adviser to ShalkiyaZinc. Maclay, Murray and Spens LLP is acting as legal adviser to SAT.

For further information please contact:

Sarah Webster, senior public relations manager

+44(0)20 7444 5942 sarah.webster@nortonrose.com

+44 (0)77 2535 0425

Editors note