Kcell informs about progress in internal investigation
Today Kcell provides a further update on the progress of the investigation initiated by the Board of Directors as mentioned in the Company’s public announcement on the 29th of September, 2014.
The investigation has concluded that Kcell has formal grounds to file a report with the General Prosecutor’s office of the Republic of Kazakhstan requesting it to commence a criminal investigation into the activities of a number of former employees who allegedly failed to follow the Company’s internal policies and procedures. The Board has accordingly reported the matter to the relevant criminal authorities. The employees allegedly responsible for these failures are no longer employed by the Company.
There remains no indication that any of the matters under investigation will have any material effect on the Company's balance sheet or on the results of its operations.