Bank Of Georgia Group Regulatory News (BGEO)

London, 26 April 2018

Announcement of a change to AGM resolution 5

The notice of annual general meeting ("AGM") of BGEO Group PLC ("BGEO" or the "Group") for the AGM to be held on Monday 30 April 2018 includes a resolution ("Resolution 5") seeking approval for a payment to the Chief Executive, which is outside the Group's remuneration policy. Having considered concerns of a minority of shareholders, BGEO today announces it proposes to seek the approval of a motion at its AGM to withdraw Resolution 5. All payments to the Chief Executive will therefore be made in accordance with the Directors' Remuneration Policy approved by shareholders at BGEO's AGM in 2017. As a result, the termination provisions of his existing service contract will apply, with his entitlements in respect of share awards being dealt with as explained in the shareholder circular dated 26 March 2018.

Name of authorised official of issuer responsible for making notification: Natia Kalandarishvili, Head of Investor Relations

About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on its strategy of: (1) at least 20% ROAE from its Banking Business; (2) 15%-20% growth of its Banking Business loan book; (3) at least 25% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018. 

Banking Business: Currently comprises: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services.

Investment Business: Currently comprises the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (a London Stock Exchange) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m2 Real Estate ("Real Estate Business" or "m2"), Teliani Valley ("Beverage Business" or "Teliani") and Aldagi ("Property and Casualty Insurance Business" or Aldagi"). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.

For further information, please visit www.bgeo.com or contact: 

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities