Annual Report / 2024
Energy of development

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Corporate governance

Management structure of the KEGOC JSC Compliance with the Corporate governance code General meeting of shareholders Dividend policy Report on the activities of the Board of Directors Conflict of interest Management Board Corporate ethics Anti-corruption Feedback mechanisms Risk management and internal control system Internal audit service Information policy and security

General meeting of shareholders

The General Meeting of Shareholders is the highest governing body of KEGOC JSC.

It operates and exercises its rights in accordance with the Law of the Republic of Kazakhstan “On Joint Stock Companies” the Charter, and the Regulations on the General Meeting of Shareholders of KEGOC JSC.

In 2024, two General Meetings of Shareholders were held:

  1. The Annual General Meeting of Shareholders was held on May 2, 2024, during which the following resolutions were adopted:
  • approval of the financial statements of KEGOC JSC for the year ended December 31, 2023; distribution of net income of KEGOC JSC; decision on the payment of dividends on ordinary shares; and approval of the amount of dividend per ordinary share of KEGOC JSC for the second half of 2023.
  • determination of the quantitative composition and term of office of the Board of Directors of KEGOC JSC; election of its members and the Chairman of the Board of Directors of KEGOC JSC and determination of the amount and terms of remuneration and reimbursement of expenses for members of the Board of Directors of KEGOC JSC in the performance of their duties.
  • approval of the new version of the Corporate Governance Code of KEGOC JSC.
  • review of shareholder appeals regarding the actions of KEGOC JSC and its officers, and the results of their consideration.
  • amendments and additions to the quantitative composition of the Counting Commission of the General meeting of shareholders of KEGOC JSC.
  • determination of the audit organization to perform the audit of KEGOC JSC and the amount of payment for its services.
  1. The Extraordinary General Meeting of Shareholders was held on October 11, 2024, during which the following resolution was adopted:
  • “Approval of the financial statements of KEGOC JSC for the six-month period ended June 30, 2024; distribution of net income; decision on the payment of dividends on ordinary shares; and approval of the amount of dividend per ordinary share of KEGOC JSC for the first half of 2024.”

Rights of minority shareholders

Corporate governance in the Company is structured to ensure equal rights and fair treatment for all shareholders. The rights, duties, and competencies of shareholders are equal and determined according to applicable legislation and are enshrined in the Company’s Charter. Shareholder rights include, but are not limited to, timely receipt of information sufficient for decision-making in the manner prescribed by the legislation of the Republic of Kazakhstan, the Charter, and the Company’s internal information disclosure documents; participation in the General meeting of shareholders and voting on matters within their competence; participation in determining the quantitative composition and term of the Board of Directors, electing its members and terminating their powers, and determining the size and conditions of remuneration; receiving dividends in amounts and terms determined by the General Meeting of Shareholders based on a clear and transparent dividend policy; transferring voting rights when participating in the General Meeting of Shareholders by proxy, and participating in the joint sale of shares.