Result of AGM

Released : 01 Jun 2017 16:14

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

+995 322 444 109

          +44 203 178 4034

         +995 322 444 444 (ext. 3979)

igilauri@bog.ge

          moliver@bgeo.com

          g.alpaidze@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 company news service from the London Stock Exchange
 
END
 
 
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