• Announcement of a default or potential default event to the market via AIX Regulatory Announcement Service (Company Disclosure) as soon as it becomes apparent that such an event is imminent, but in any case no later than the due date for the Issuer's financial obligation. The announcement must be transparent, provide certainty and predictability, and contain at least the following information:
  • Expected date of the default
  • Nature of the default and default amounts
  • Description of events leading to the default
  • Proposed timeline for the default remedy and orderly handling of claims in case of an actual default
  • Proposed arrangement on debt restructuring, if applicable, and process for the bondholders' consent solicitation
  • Guidance to the bondholders on other possible actions (their scope), the circumstances in which action may be taken, who may take it, and other procedures aimed at protecting the bondholders' rights

It is recommended that information should be available to the market participants in clearly understandable terms.

• Announcement about full or partial fulfilment and/or remedy of any defaulted obligations.
• Notification to AIX at listings@aix.kz no later than 11:00 Astana time on the day immediately following the date of the default, including:
  • Date of the default
  • Nature of the default and overdue amounts
  • Description of events leading to the default
  • Proposed action plan and timeline for the default remedy
  • Contact details (name, position, phone and e-mail) of a person responsible for communication with AIX in relation to the default, if such person is different from Responsible Person indicated in the listing application.

• AIX will engage with the Issuer to ensure accurate disclosure of default and financial position to the market.
• If the Issuer fails to disclose accurate information about the Issuer's default and its financial position, AIX may take a regulatory action, including suspension of trading in the Issuer's Securities, which will be announced to the market via AIX Market Notices.
• AIX will inform AFSA, an independent regulator of the AIFC, on Defaulted Security based on information received from the Issuer.
• Information on the Defaulted Securities will be updated by AIX on this page.

• The terms that govern the relationship between an Issuer and Investors can be found in the Prospectus, offer document or Offer Terms, as applicable. These documents are available at the AIX Regulatory Announcement Service (Company Disclosure). Investors shall seek in those documents for the available mechanisms to address the defaulting Issuer's obligations (that may include enforcing a guarantee or other).
• Investors, having concerns about the actions they should take, should seek advice from their independent professional advisers or consultants.

• The Investor may submit a formal claim to the Issuer and/or the Guarantor (if any)
• The Issuer and Investors may engage in negotiations with the aim of restructuring the Issuer's defaulted payment obligations
• The Investor may initiate a legal action at the court of the jurisdiction set in the Prospectus, offer document or Offer Terms. Please check sections of the said documents (as applicable) on a governing law and dispute resolution.