Freedom Holding Corp. — Director's Dealing 2011

Jan 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BMB MUNAI INC (KAZ)
CIK: 0000924805
Period of Report: 2011-01-01

Reporting Person: Tolmakov Toleush (Vice President, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-01	Common	A	215000	—	Acquired		Direct

Footnotes

F1: The shares were a restricted stock grant awarded to the Reporting Person on January 1, 2010 for services rendered to the Company. This restricted stock grant was awarded, subject to a one-year vesting period. The holding period was satisfied and the shares vested to the Reporting Person on January 1, 2011.

F2: Restricted stock grant for services.

F3: Mr Tolmakov owns 3,265,365 shares in his own name and 2,986,595 shares in the name of Simage Limited. Simage Limited is a company owned by Mr. Tolmakov.