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”).


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.


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.


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.


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.


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.


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.


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.


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.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

JSC Bank of Georgia (BGEO)

  Print      Mail a friend

Monday 04 April, 2011

JSC Bank of Georgia

JSC Bank of Georgia Announces Management Bonuse...

JSC Bank of Georgia Announces Management Bonuses for 2010 Performance

Bank of Georgia

JSC Bank of Georgia announces management bonuses for 2010 performance

JSC Bank of Georgia (LSE: BGEO) (the “Bank”), Georgia’s leading universal bank announced today the management bonuses in respect to the performance of the financial year ended 31 December 2010. The top nine senior executives of the Bank, including Chief Executive Officer, Deputy Chief Executive Officers and certain senior executives (the “Executives”), will be awarded an aggregate of 142,000 nil cost options of Bank of Georgia ordinary shares in the form of GDRs (the “Options”). Of these 142,000 Options, 20,000 are being awarded to CEO Irakli Gilauri. The Options were approved by the Supervisory Board on 22 February 2010.

The Options were granted under the discretionary portion of the Bank’s Executive Compensation Policy, announced in 2010, which provides for fixed salaries that include a cash and guaranteed long-vesting share component, and bonuses comprised of discretionary grants of nil cost options. The current Compensation Policy covers the period through 2012 and the Bank does not intend to pay cash bonus compensation to any of the Executives during this period. The discretionary securities portion of the Compensation Policy is subject to the Executives’ continuous employment and a two-year straight line vesting period. The first tranche of the Options will vest on 1 January 2012 and the second tranche will vest 1 January 2013.

As per the Bank's EGM announcement dated 2 November 2010, the Bank of Georgia securities issued under its Compensation Policy will either be bought in the open market or new shares will be issued from the authorized share capital of the Bank. In total, up to 1.5 million shares will be allotted for the purposes of the new Compensation Policy over its 3-year span (in both discretionary and non-discretionary grants).

“I would like to congratulate my colleagues for the superb performance in 2010. The new share-based compensation structure was put in place last year to ensure continuous excellent performance of the management over the medium to long-term period. The discretionary award not only serves as recognition of the tremendous work by each of the executives during the year, but also represents the best motivator going forward”, commented Irakli Gilauri, Chief Executive Officer

“The move to a predominantly share-based compensation structure, including abandoning cash bonuses, for our top executives ensures the proper alignment of management’s and shareholders’ interests over the medium to long term. The Bank’s Supervisory Board believes that the new compensation policy is fair and performance oriented, and that this year’s awards reflect the outstanding commitment of the management and I would like to congratulate them on a very strong year”, noted Al Breach, Chairman of the Supervisory Board‘s Remuneration Committee.

About Bank of Georgia

Bank of Georgia is the leading Georgian bank offering a broad range of corporate banking, retail banking, wealth management, brokerage and insurance services to its clients in Georgia, Ukraine and Belarus. Bank of Georgia is the largest bank in Georgia by assets, loans, deposits and equity, with 36% market share by total assets (all data according to the NBG as of 31 December 2010). The bank has 142 branches and more than one million retail and 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 ‘B1/NP’ (FC) & ‘Ba3/NP’ (LC)

For further information, please visit or contact:

Irakli Gilauri   Macca Ekizashvili
Chief Executive Officer Head of Investor Relations
+995 32 444 109 +44 (0) 20 3178 4052
[email protected] [email protected]

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.

a d v e r t i s e m e n t