TIDMBGEO
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 % VOTES % VOTES % of VOTES
FOR AGAINST TOTAL ISC* WITHHELD
VOTED
-------------------------------- ----------- ------- ---------- ------ ----------- ------- ----------
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, m(2) 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 Bank of Georgia has, as
of the date hereof, the of the date hereof, the
following credit ratings: following credit ratings:
Fitch Ratings 'BB-/B' Fitch Ratings 'BB-/B'
Moody's B1/NP (FC) Moody's 'B1/NP' (FC)
& B1/NP (LC) & 'Ba3/NP'
(LC)
For further information, please visit www.bgeo.com or
contact:
Irakli Gilauri Michael Oliver Giorgi Alpaidze
Group CEO Adviser to the Head of Investor
CEO Relations
+995 322 444
+995 322 444 109 +44 203 178 4034 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
RAGSSDFIFFWSEFM
(END) Dow Jones Newswires
June 01, 2017 11:14 ET (15:14 GMT)
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