Georgia Capital PLC Capital Reduction

RNS Number : 1600R

Georgia Capital PLC

12 June 2018

 

                London, 12 June 2018

Georgia Capital PLC Capital Reduction

Georgia Capital PLC ("CGEO" or the "Company") announces that its planned reduction of capital (the "Reduction of Capital") became effective on 12 June 2018, pursuant to which the nominal value of each of the Company's 39,384,714 ordinary shares (the "CGEO Shares") has been reduced from £12.70 to £0.01. Details of the Reduction of Capital are set out in the Company's prospectus dated 26 March 2018.

The Reduction of Capital is a legal and accounting adjustment and is not expected to have any direct impact on the market value of the CGEO Shares.

Name of authorised official of issuer responsible for making notification: Rebecca Wooldridge, Company Secretary

About Georgia Capital PLC

Georgia Capital is the holding company of a diversified group focused on investing in 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 opening of the Georgian economy to Europe and economic development in the wider region. The Group seeks to capture growth in the sectors in which it currently operates and drive the development of new high-growth businesses in Georgia, which it intends to add either by acquiring businesses in their early development stage or by establishing greenfield businesses, often consolidating fragmented or underdeveloped markets. The Group currently has four key portfolio companies: (i) GGU, a water utility and renewable energy business; (ii) m², a residential and commercial property developer; (iii) Aldagi, the foremost provider of property and casualty insurance products in Georgia; and (iv) Teliani, a leading wine and beer producer in Georgia.

In addition to its portfolio companies, the Group holds investments in two London Stock Exchange premium-listed Georgian businesses: GHG, (57% stake), the parent company of the largest and diversified healthcare provider in Georgia, which operates in the healthcare services, pharmacy and medical insurance sectors; and Bank of Georgia Group PLC, (19.9% stake), 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	Michael Oliver	Giorgi Alpaidze	Nino Rekhviashvili
Chairman and Chief Executive	Adviser to the CEO	Chief Financial Officer	Head of Investor Relations
[phone]	[phone]	[phone]	[phone] (9072)
[e-mail]	[e-mail]	[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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