Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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JSC Bank of Georgia (BGEO)

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Thursday 08 July, 2010

JSC Bank of Georgia

JSC Bank of Georgia Completes the Sale of 19.99...

JSC Bank of Georgia Completes the Sale of 19.99% Equity Interest in BNB to IFC

Bank of Georgia

JSC Bank of Georgia completes the sale of 19.99% equity interest in BNB to IFC

JSC Bank of Georgia (LSE:BGEO) (the “Bank”), Georgia’s leading universal bank announced today that IFC, a member of the World Bank Group has completed the purchase of 19.99% equity interest in Belarusky Narodny Bank (the “BNB”), the Bank’s subsidiary in the Republic of Belarus. According to the Framework Share Purchase Agreement signed by Bank of Georgia and IFC on 24 June 2010, Bank of Georgia sold 553,481,041 common shares of BNB for the consideration of BYR 24,694 million (US$8.2 million), or BYR 44.6 per share (the “Purchase Price”). BNB’s book value prior to the capital injection by Bank of Georgia in December 2009 was BYR 55,952 million (US$18.6 million) and stood at BYR 99,877 million (US$33.1 million) as of 31 December 2009.

Under the terms of the Shareholders Agreement entered into with IFC, IFC has a put option on its shares exerciseable from 15 January 2015 until 1 January 2017 at the price equal to the higher of i) the then-current fair market value and ii) the lower of (1) the Purchase Price and (2) two times the book value.

In addition, the Bank also announces that BNB has signed Loan Agreement with IFC in the amount of up to US$ 5 million. The loan carries an interest rate of LIBOR + 4% per annum and has a maturity of 4.5 years repayable in six semiannual equal installments starting in June 2012.

“I am delighted that together with IFC we have completed these milestone transactions for BNB. The participation of IFC as a shareholder and lender will undoubtedly increase BNB’s competitiveness and will provide an invaluable support in the development of the bank. I would like to thank Avto Namicheishvili, Deputy CEO (Legal) for structuring this complex transaction in multiple jurisdictions as well as the teams at IFC, BNB and Bank of Georgia for the outstanding work on his deal“, commented Irakli Gilauri, Chief Executive Officer.

Thomas Lubeck, IFC Regional Head, Caucasus, commented: “It is the IFC’s role to promote cross-border investments and thus contribute to development of regional economic ties and support local markets and companies. We look forward to a success of this project, which will be for benefit of both Belarus and Georgia banking sectors”.

About IFC

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. IFC’s new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org

Note: BYR converted into US$ for convenience using an exchange rate of BYR 3,014.00 per US$1.00, being the official exchange rate as reported by the National Bank of the Republic of Belarus on 7 July 2010.

About Bank of Georgia

Bank of Georgia is the leading Georgian bank offering a broad range of corporate and investment banking, retail banking, wealth management and insurance services to its customers in Georgia, Ukraine and Belarus. Bank of Georgia is the largest bank in Georgia by assets, loans, deposits and equity, with 34.8% market share by total assets (all data according to the NBG as of 30 April 2010). The bank has 137 branches and approximately 1 million retail and more than 157,000 corporate current accounts.

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

Standard & Poor’s   ‘B/B’
FitchRatings ‘B/B’
Moody’s ‘B3/NP’ (FC) & ‘Ba3/NP’ (LC)

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

Irakli Gilauri   Macca Ekizashvili
CEO, Supervisory Board Member Head of Investor Relations
+995 32 444 109 +995 32 444 256

igilauri@bog.ge

ir@bog.ge

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.