JSC Bank of Georgia Announces Result of AGM May 2012

JSC Bank of Georgia (LSE: BGEO GSE: GEB), the leading Georgian universal bank (“the Bank”), announced today that all the resolutions put to shareholders at the Annual Meeting of Shareholders (“AGM”) held on 24 May, 2012 were passed by the required majority. These resolutions are contained in the Notice of the AGM dated 3 May 2012, a copy of which as well as other documents pertaining to the AGM is available on the Bank of Georgia website (www.bankofgeorgia.ge/ir) or upon request from the Bank at its registered office: 29a Gagarini Street, Tbilisi, Georgia, 0160.

The total number of voting shares in issue as of the record date of the AGM (23 April, 2012) was 36,512,553. 98.38% of total voting shares were present and/or represented at the AGM. The following resolutions were adopted at the AGM:

  1. Approval of the consolidated audited results for fiscal year 2011 of the Bank by Ernst & Young
  2. Approval of the Management Board Report on the performance of the Bank for the fiscal year 2011 and
    acknowledgement of the plans and strategy of the Bank as presented by the Management Board
  3. Approval of the extension of the term of the Supervisory Board member – Mr. Kaha Kiknavelidze to
    additional four years period
  4. Approval of the joint proposal of Management and Supervisory Board on allocation of the profit for the year
    of 2011 and distribution of part of the profit as dividends - in the amount of GEL 0.70 per outstanding share
    of Bank of Georgia
  5. Approval of the setting 8 June 2012 (06.00 PM) as the Dividend Record Date (as per section 5.2.1 of the
  6. Approval of the setting 25 June 2012 as the Dividend Payout Start Date (as per section 5.2.1 of the charter)