Non-Executive Director resignation

RNS Number : 1472B

Georgia Capital PLC

05 June 2019

 

                London, 5 June 2019

Non-Executive Director resignation

Georgia Capital PLC (the "Group" or "Georgia Capital") announces that William (Bill) Huyett has resigned from the Board of Directors of Georgia Capital and the Supervisory Board of JSC Georgia Capital with immediate effect in order to focus on his other commitments, including his role as the Chairman of Georgia Healthcare Group PLC (GHG). Mr. Huyett has served as an Independent Non-Executive Director of the Company since February 2018, ahead of the Group's demerger from BGEO Group PLC. Mr. Huyett became the Chairman of GHG in September 2018.

Irakli Gilauri, Georgia Capital's Chairman and CEO commented: "I would like to thank Bill on behalf of the Board for his contributions into the development of Georgia Capital's strategy during its first year as a separately listed company. We would like to wish Bill every success in his future endeavors including as chairman of GHG."  

Bill Huyett commented: "It has been a great pleasure to serve on the Georgia Capital Board during its first year as an independently listed company. The Group is in a strong position moving forward with its focused strategy, strong Board and outstanding senior management team as it continues its journey to develop and monetize businesses in Georgia. Due to increased commitments, I would like to dedicate more time and energy to further developing GHG."

Name of authorised official of issuer responsible for making notification: Nino Rekhviashvili, Head of Investor relations

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	Giorgi Alpaidze	Nino Rekhviashvili
Chairman and Chief Executive	Chief Financial Officer	Head of Investor Relations
[e-mail]	[phone]	+ 995 322 005 045
	[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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