Bgeo Group PLC Result of AGM (9170G)

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 
                                                             [phone] 
      [phone]            [phone]            444 (ext. 3979) 
      [e-mail]             [e-mail]            [e-mail] 
 

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)