Georgia Capital PLC Update on BOG's minimum capital requirements (6620E)
July 08 2021 - 8:40AM
UK Regulatory
TIDMCGEO
RNS Number : 6620E
Georgia Capital PLC
08 July 2021
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 Chief Financial Officer Adviser to the Chairman
Executive & CEO
ir@gcap.ge +995 322 005 000 +44 203 178 4034
ir@gcap.ge ir@gcap.ge
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only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
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END
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