Statement re De-listing of GDRs of JSC Bank of Geo

RNS Number : 8390E

Bank of Georgia Holdings PLC

06 June 2012

 

London, 6 June 2012

Termination of Deposit Agreement and De-listing of GDRs of JSC Bank of Georgia

Bank of Georgia Holdings plc (BGH) announces that, following the expiry of the 90-day notice period given by JSC Bank of Georgia (the Bank) to terminate the deposit agreement (the Deposit Agreement) in respect of all of the Bank's outstanding global depositary receipts (GDRs) in accordance with its terms, the Deposit Agreement has been terminated with effect from today.

Pursuant to the terms of the Deposit Agreement, holders of the Bank's GDRs are required to pay a cancellation fee of US$0.05 per GDR in connection with the cancellation of the GDRs and the termination of the Deposit Agreement. The Bank will pay this fee on behalf of outstanding GDR holders.

Following the announcements by the Bank on 8 March 2012 and 1 May 2012 of its applications for the cancellation of the listing of the Bank's GDRs on the Official List and the cancellation of the admission of the Bank's GDRs to trading on the London Stock Exchange (the LSE) and the publication today of the relevant notices by the Financial Services Authority and the LSE, BGH announces that the listing of all of the Bank's GDRs on the Official List and the admission of the Bank's GDRs to trading on the LSE have been cancelled with immediate effect.

Remaining holders of the Bank's GDRs are referred to the notice provided by The Bank of New York Mellon (as Depositary) on 5 April 2012 regarding the consequences of cancellation and termination. The Depositary can be contacted on telephone number 1-888-BNY-ADRS (1-888-269-2377) for further information in connection with this.

 About Bank of Georgia Holdings plc

Bank of Georgia Holdings plc is a UK-incorporated holding company of Bank of Georgia. Bank of Georgia is the leading Georgian bank, based on total assets (with a 34% market share), total loans (with a 35% market share) and client deposits (with a 34% market share) as of 31 March 2012, all data based on standalone financial information filed by banks in Georgia with the National Bank of Georgia. The Bank offers a broad range of corporate banking, retail banking, wealth management, brokerage and insurance services to its clients.

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's	'BB-/B'
FitchRatings	'BB-/B'
Moody's	'B1/NP' (FC) & 'Ba3/NP' (LC)

For further information, please visit www.bog.ge/ir or contact: 

Irakli Gilauri	Macca Ekizashvili
Chief Executive Officer	Head of Investor Relations
[phone]	[phone]
[e-mail]	[e-mail]

      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.

 

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