Result of AGM

RNS Number : 9170G

Bgeo Group PLC

01 June 2017

 

London, 1 June 2017

BGEO Group PLC - Results of AGM

The Board of Directors of BGEO Group PLC (the "Company") announces the results of voting on the resolutions put to shareholders at its Annual General Meeting (the "AGM") held on Thursday, 1 June 2017. Details of the resolutions are set out in full in the Notice of AGM dated 2 May 2017.

Resolutions 1 to 15 were passed as ordinary resolutions and resolutions 16, 17 and 18 were passed as special resolutions.

The results of the poll were as follows:

RESOLUTION	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC* VOTED	VOTES WITHHELD
1 To receive and adopt the Annual Report and Accounts for the year ended 31 December 2016.	32,512,832	99.94	19,000	0.06	32,531,832	82.46	1,501
2 To declare a final dividend of GEL 2.6 per Ordinary Share.	32,533,333	100.00	0	0.00	32,533,333	82.47	0
3 To receive and approve the Directors' Remuneration Report.	30,694,906	94.47	1,798,027	5.53	32,492,933	82.37	40,400
4 To approve the Directors' Remuneration Policy, to take effect from the conclusion of the AGM.	30,701,505	94.49	1,791,428	5.51	32,492,933	82.37	40,400
5 To re-elect Neil Janin, as Non-Executive Director.	28,654,048	88.08	3,879,285	11.92	32,533,333	82.47	0
6 To re-elect Irakli Gilauri, as an Executive Director.	32,520,551	99.96	12,732	0.04	32,533,283	82.47	50
7 To re-elect David Morrison, as a Non-Executive Director.	32,254,337	99.14	278,946	0.86	32,533,283	82.47	50
8 To re-elect Alasdair Breach, as a Non-Executive Director.	32,136,900	98.78	396,383	1.22	32,533,283	82.47	50
9 To re-elect Kim Bradley, as a Non-Executive Director.	32,512,600	99.96	12,732	0.04	32,525,332	82.45	50
10 To re-elect Tamaz Georgadze, as a Non-Executive Director.	32,520,551	99.96	12,732	0.04	32,533,283	82.47	50
11 To re-elect Hanna Loikkanen as a Non-Executive Director.	32,520,551	99.96	12,732	0.04	32,533,283	82.47	50
12 To re-appoint Ernst & Young LLP as Auditor to the Company.	32,443,742	100.00	0	0.00	32,443,742	82.24	71,041
13 To authorise the Board to set the remuneration of the Auditor.	32,443,773	99.72	89,560	0.28	32,533,333	82.47	18,550
14 To authorise political donations and political expenditure.	32,046,416	98.72	415,068	1.28	32,461,484	82.29	71,849
15 To authorise the Board to allot shares.	32,196,381	99.02	318,402	0.98	32,514,783	82.42	18,550
16 To authorise the disapplication of pre-emption rights.	32,251,898	99.19	262,885	0.81	32,514,783	82.42	18,550
17 To authorise the disapplication of pre-emption rights for the purposes of acquisitions or capital investments.	32,024,457	98.49	490,326	1.51	32,514,783	82.42	18,550
18 To authorise the Company to purchase its own shares.	32,350,565	99.77	74,608	0.23	32,425,173	82.19	108,160

*Issued share capital

As at the date of the AGM, the Company had 39,449,320 ordinary shares in issue. The Company did not hold any shares in treasury and therefore the number of total voting rights as at the date of the AGM was 39,449,320.  In accordance with the Company's Articles of Association and subject to the Listing Rules, on a poll, every member who is present in person or by proxy has one vote for every share held.  The scrutineer of the poll was Computershare Investor Services PLC, the Company's Share Registrar.

Note that a "vote withheld" is not a vote in law and such votes have not been included in the calculation of votes "for" and "against" each resolution.  Proxy appointments which gave discretion to the Chairman have been included in the "for" total above.

In accordance with Listing Rule 9.6.2, copies of the resolutions which constitute special business at the AGM (being resolutions 4 and 15-18) will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.

A copy of this announcement has been posted on the Company's website, www.bgeo.com.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea

on behalf of Sirius Compliance Solutions Ltd

Group Company Secretary

About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, the "Group"). BGEO aims to deliver on a 4x20 strategy: at least 20% ROAE and at least 20% growth of retail loan book in Banking Business, and at least 20% IRR and up to 20% of the Group's profit from Investment Business.

Banking Business: Our Banking Business comprises at least 80% of the Group's profit and consists of Retail Banking, Corporate Banking and Investment Management businesses at its core and other banking businesses such as P&C Insurance, Leasing, Payment Services and Banking operations in Belarus ("BNB"). The Group strives to benefit from the underpenetrated banking sector in Georgia especially through its Retail Banking services. JSC Bank of Georgia ("BOG" or the "Bank") is the main entity in the Group's Banking Business.

Investment Business: Our Investment Business comprises up to 20% of the Group's profit and consists of Georgia Healthcare Group (Healthcare Business) - an LSE (London Stock Exchange PLC) premium listed company, m² Real Estate (Real Estate Business), Georgia Global Utilities (Utility & Energy Business or GGU) and Teliani Valley (Beverage Business). Georgia's fast-growing economy provides opportunities in a number of underdeveloped markets and the Group is well positioned to capture growth opportunities in the Georgian corporate sector.

JSC BGEO Group has, as of the date hereof, the following credit ratings:		Bank of Georgia has, as of the date hereof, the following credit ratings:
Fitch Ratings	'BB-/B'	Fitch Ratings	'BB-/B'
Moody's	B1/NP (FC) & B1/NP (LC)	Moody's	'B1/NP' (FC) & 'Ba3/NP' (LC)

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

Irakli Gilauri	Michael Oliver	Giorgi Alpaidze
Group CEO	Adviser to the CEO	Head of Investor Relations
[phone]	[phone]	[phone] (ext. 3979)
[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

 

END

 

 

RAGSSDFIFFWSEFM