JSC NC Kazakhstan Engineering (hereinafter referred to as the Company) wanted to refute false information posted on social networks and electronic publications related to the sale of a 23.65% stake in ordinary shares of Munaimash JSC (hereinafter referred to as the Asset).

As part of the implementation of the Government Decree, since 2021, the Asset was transferred to the competitive environment by selling at an open tender. Competitions were held on the gosreestr website - 12/09/2022, 04/27/2023.

According to the results of the open electronic competition held this year, May 16 this year. signed a contract for the sale of the asset. Information about this was posted earlier: https://ke.kz/press-center/news/4147/.

JSC "Munaimash" is an enterprise that manufactures civil products - borehole rod pumps.

Production is not unique or strategic, it is a competitive environment where both Kazakh, Russian and other manufacturers take part in tenders for the production of similar products. In the Kazakhstani market, according to our data, there are 3 companies that produce these products.

One of the electronic portals published an article containing inaccurate data, which was then posted by a Kazakhstani blogger, thus forming the opinion that the Company sold a unique oil equipment plant for a small price.

First, let's note once again that this is a plant for the production of rod pumps. Secondly, the Company, as a minority shareholder, sold for 232 million tenge a share equal to 23.65% of ordinary shares, and not the entire plant and production, as was presented to readers. Thirdly, the publication contains unreliable assessment data.

Information on the sale of the Asset, indicating all the conditions of sale, was previously posted on the Company's corporate website: https://ke.kz/ru/press-center/news/2409/ and on the web portal of the state register www.gosreestr.kz. The main conditions are the preservation of activities, the preservation of the workforce and the creation of new jobs.

We call on media representatives, public groups of social network users and bloggers to check any information before publication, to clarify the position of all parties. The Company's management reserves the right to apply to the court to protect its business reputation in relation to persons who post false information.

If you have any questions, please contact Kazakhstan Engineering by e-mail ke@ke.kz or directly to the Chairman of the Board at t.abdrakhmanov@ke.kz.