Bank of Georgia Group PLC Result of AGM

Fecha : 17/05/2019 @ 07:40
Fuente : UK Regulatory (RNS & others)
Emisora : Bank Of Georgia Group Plc (BGEO)
Cotización : 1622.0  20.0 (1.25%) @ 10:35
Bank Of Georgia Cotización de acciones Gráfica

Bank of Georgia Group PLC Result of AGM

Bank Of Georgia (LSE:BGEO)
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1 mes : De May 2019 a Jun 2019

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RNS Number : 4438Z

Bank of Georgia Group PLC

17 May 2019

London, 17 May 2019

Bank of Georgia Group PLC - Results of AGM

The Board of Directors of Bank of Georgia Group PLC (the "Company") announces the results of voting on the resolutions put to shareholders at its Annual General Meeting (the "AGM") held on Friday, 17 May 2019. Details of the resolutions are set out in full in the Notice of AGM dated 5 April 2019.

Voting at the AGM was completed by way of a poll. All resolutions were passed by the required majority.

Resolutions 1 to 17 (inclusive) were passed as ordinary resolutions and resolutions 18 to 20 (inclusive) were passed as special resolutions.

The results of the poll for each resolution were as follows:

 
             RESOLUTION                  VOTES        %        VOTES        %       VOTES       % of      VOTES 
                                           FOR                 AGAINST               TOTAL      ISC*     WITHHELD 
                                                                                                VOTED 
 1 To receive and approve 
  the Annual Report and 
  Accounts for the year 
  ended 31 December 2018               42,106,635   100.00       0        0.00    42,106,635   85.64%    24,962 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 2 To declare a final dividend 
  of GEL 2.55 per Ordinary 
  Share                                42,127,534   100.00       0        0.00    42,127,534   85.68%     4,063 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 3 To receive and approve 
  the Directors' Remuneration 
  Report                               30,993,360   73.57    11,134,173   26.43   42,127,533   85.68%     4,063 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 4 To receive and approve 
  the Directors' Remuneration 
  Policy                               37,459,269   90.92    3,740,514    9.08    41,199,783   83.79%    931,813 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 5 To appoint Neil Janin, 
  as a Non-Executive Director**        37,693,474   91.49    3,505,764    8.51    41,199,238   83.79%    932,358 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 6 To appoint Alasdair 
  Breach, as a Non- Executive 
  Director**                           38,666,669   93.85    2,532,570    6.15    41,199,239   83.79%    932,358 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 7 To appoint Archil Gachechiladze, 
  as an Executive Director             41,995,025   99.69     131,964     0.31    42,126,989   85.68%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 8 To appoint Tamaz Georgadze, 
  as a Non-Executive Director**        39,077,561   94.85    2,121,678    5.15    41,199,239   83.79%    932,358 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 9 To appoint Hanna Loikkanen 
  as a Non-Executive Director 
  **                                   41,773,534   99.16     354,000     0.84    42,127,534   85.68%     4,063 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 10 To appoint Veronique 
  McCarroll, as a Non-Executive 
  Director**                           41,995,603   99.69     131,931     0.31    42,127,534   85.68%     4,063 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 11 To appoint Jonathan 
  Muir, as a Non-Executive 
  Director**                           41,609,033   98.77     517,956     1.23    42,126,989   85.68%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 12 To appoint Cecil Quillen, 
  as a Non-Executive Director**        39,008,789   94.68    2,190,450    5.32    41,199,239   83.79%    932,358 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 13 To appoint Andreas 
  Wolf, as a Non-Executive 
  Director**                           41,786,029   99.24     320,960     0.76    42,106,989   85.64%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 14 To appoint Ernst & 
  Young LLP as Auditor to 
  the Company                          40,136,101   95.32    1,971,383    4.68    42,107,484   85.64%     4,113 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 15 To authorise the Audit 
  Committee to set the remuneration 
  of the Auditor                       40,510,900   96.21    1,596,089    3.79    42,106,989   85.64%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 16 To authorise political 
  donations and political 
  expenditure.                         41,253,942   98.95     437,859     1.05    41,691,801   84.79%    419,796 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 17 To authorise the Board 
  to allot shares                      40,341,874   95.81    1,765,115    4.19    42,106,989   85.64%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 18 To authorise the disapplication 
  of pre-emption rights                38,694,728   91.90    3,412,261    8.10    42,106,989   85.64%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 19 To authorise the disapplication 
  of pre-emption rights 
  for the purposes of acquisitions 
  or capital investments               38,382,022   91.15    3,724,967    8.85    42,106,989   85.64%     4,608 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 20 To authorise the Company 
  to purchase its own shares           41,552,490   98.71     542,578     1.29    42,095,068   85.61%    16,529 
                                      -----------  -------  -----------  ------  -----------  -------  ---------- 
 

*Issued share capital

**Independent Director

In relation to Resolution 3, while shareholders approved the Directors' Remuneration Report with a clear majority, with 73.6% votes cast in favour, the Company recognises that some shareholders have concerns on this matter.

During early 2019 we engaged with shareholders regarding remuneration arrangements, including the salary package for the CEO, and the Company's major shareholders were generally supportive. We further note that shareholders approved the new Directors' Remuneration Policy with 90.9% votes cast in favour.

The Company will further engage with shareholders to ensure shareholder views are fully understood.

Notes:

1. As at the date of the AGM, the Company had 49,169,428 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 49,169,428. 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.

2. The scrutineer of the poll was Computershare Investor Services PLC, the Company's Share Registrar.

3. 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 16 to 20) 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.bankofgeorgiagroup.com.

Name of authorised official of issuer responsible for making notification:

Link Company Matters Limited

Company Secretary

About Bank of Georgia Group PLC

Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company, which comprises: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of Georgia", "BOG" or the "Bank"), the leading universal bank in Georgia, is the core entity of the Group. The Group targets to benefit from superior growth of the Georgian economy through both its retail banking and corporate investment banking services and aims to deliver on its strategy, which is based on at least 20% ROAE and 15-20% growth of its loan book.

 
 JSC Bank of Georgia has, as of 
  the date hereof, the following 
  credit ratings: 
 
      Fitch Ratings   'BB-/B' 
      Moody's         'Ba3/NP' (FC) 
                       & 'Ba2/NP' (LC) 
 

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

 
 Archil Gachechiladze    Michael Oliver    Sulkhan Gvalia    Natia Kalandarishvili 
 Group CEO               Adviser to the    Group CFO         Head of Investor 
                          CEO                                 Relations 
                                                             +995 322 444 444 
 +995 322 444 144        +44 203 178 4034  +995 322 444 108   (9282) 
 agachechiladze@bog.ge   moliver@bgeo.com  sgvalia@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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 17, 2019 08:40 ET (12:40 GMT)

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