Last checked at 8 Jul 2021 14:40
London, 8 July 2021
Update on Bank of Georgia's minimum regulatory capital requirements
Georgia Capital PLC (the "Group" or "Georgia Capital") announces that Bank of Georgia Group (the "Bank") has today published an update on its expected minimum capital requirements, and has confirmed that it is no longer utilising any regulatory capital buffers. The Bank no longer has any regulatory restriction on making any capital distributions.
It is the Bank Board's intention to change its dividend declaration policy to a semi-annual one, with the first interim dividend payment to be considered in the second half of 2021, on the back of 1H 2021 performance.
The full announcement is available on the Bank's website at https://bankofgeorgiagroup.com/news
Name of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Chief Financial Officer
About Georgia Capital PLC
Georgia Capital is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Group's focus is typically on larger-scale investment opportunities in Georgia, which have the potential to reach at least GEL 0.5 billion equity value over 3-5 years from the initial investment and to monetise them through exits, as investments mature. Georgia Capital currently has the following portfolio businesses: (i) a healthcare services business; (ii) a water utility business; (iii) a retail (pharmacy) business, (iv) an insurance business (P&C and medical insurance); (v) a renewable energy business (hydro and wind assets) and (vi) an education business; Georgia Capital also holds other small private businesses across different industries in Georgia and a 19.9% equity stake in LSE premium-listed Bank of Georgia Group PLC ("the Bank"), a leading universal bank in Georgia.
JSC Georgia Capital has, as of the date hereof, the following credit ratings: | |
S&P Global | 'B'/FC & 'B'/LC |
Moody's | B2/CFR & B2/PDR |
For further information, please visit www.georgiacapital.ge or contact:
Irakli Gilauri | Giorgi Alpaidze | Michael Oliver |
Chairman and Chief Executive | Chief Financial Officer | Adviser to the Chairman & CEO |
ir@gcap.ge | +995 322 005 000 | +44 203 178 4034 |
ir@gcap.ge | ir@gcap.ge |
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