Kazatomprom Shareholders Approve Uranium Deal With Chinese Company

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 8. Shareholders of National Atomic Company Kazatomprom JSC have approved a major transaction involving a spot-term contract for the sale and purchase of natural uranium concentrates with China's State Nuclear Uranium Resource Development Company Limited, Kazatomprom said.

The resolution approving the interested-party transaction, which together with related transactions constitutes a major transaction, was passed at an Extraordinary General Meeting of Shareholders (EGM).

“The EGM resolved to approve the transaction, which in aggregate with interrelated transactions is a major transaction, in which Kazatomprom has an interest – the Spot-term contract for sale and purchase of natural uranium concentrates with State Nuclear Uranium Resource Development Company Limited”, the statement reads.

A total of 201,531,278 votes, representing 88.63% of the company's total voting shares, were cast in favor of the agreement. Meanwhile, 14,757,296 votes, or 6.49%, were cast against, while 11,088,543 votes, or 4.88%, were withheld.

Overall, shareholders holding 227,377,117 shares, or 99.21% of the company's total voting shares of 229,197,526, participated in the absentee voting, which concluded on October 7, 2026. Kazatomprom had 259,356,608 outstanding shares at the time of the EGM.

Shareholders also voted on other items on the agenda.

A resolution on concluding a major interested-party contract with Uranium One Group JSC for the supply of natural uranium in the form of U3O8 was not approved. The decision required a simple majority, but 88.34% of the voting shares, or 200,867,174 votes, were withheld. A total of 12,248,357 votes, or 5.39%, were cast in favor, while 14,261,586 votes, or 6.27%, were cast against.

Shareholders also approved the early termination of Yelzhas Otynshiyev's powers as a member of the Board of Directors, with 96.26% of votes, or 218,883,137 shares, cast in favor.

Zhandos Kairgeldi was elected to the Board of Directors as a representative of Samruk-Kazyna's interests for the remainder of the term of the current Board of Directors.

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