General Meeting of Shareholders

The General Meeting of Shareholders is the supreme body in the Company’s corporate governance structure. The General Meeting of Shareholders scope of competencies and meeting convocation, holding and summarising procedures are set forth in laws of the Republic of Kazakhstan and the Company’s Charter. General Meetings of Shareholders can be annual and extraordinary. The Annual General Meeting of Shareholders is convened by the Board of Directors or may be convened and held on the basis of a court decision following a claim of any stakeholder, if the Company’s governing bodies violate the procedure established for convening the Annual General Meeting of Shareholders. An Extraordinary General Meeting of Shareholders may be convened by the Board of Directors or a major shareholder of KMG, or alternatively, through a court decision following a claim by a major shareholder of KMG when the Company’s governing bodies fail to fulfil the shareholder’s request to hold an Extraordinary General Meeting of Shareholders.

The meeting’s agenda is set by the Board of Directors and presents a comprehensive list of explicitly stated matters for discussion.

In 2024, KMG held one General Meeting of Shareholders (annual), discussing eight matters, including one matter regarding changes to the Board of Directors’ composition: Board member and former Chairman of the Management Board of KMG, Magzum Myrzagaliev, was removed from the Board of Directors, whilst the newly appointed Chairman of the Management Board of KMG, Askhat Khassenov, was appointed to the Board of Directors.

The Annual General Meeting of Shareholders addressed the approval of KMG’s consolidated and standalone annual financial statements for 2023, discussed KMG’s 2023 net profit distribution procedure and dividend per ordinary share, and reviewed shareholder submissions regarding KMG’s and its officials’ actions during the year.

In 2024, the Annual General Meeting of Shareholders also formally approved amendments and additions to KMG’s Charter.

For more details on interactions with minority shareholders and their rights, see the Shareholder and Investor Relations section