Georgia Capital PLC Change in management at Georgia Healthcare Group (3143U)
30 July 2022 - 12:06AM
UK Regulatory
TIDMCGEO
RNS Number : 3143U
Georgia Capital PLC
29 July 2022
London, 29 July 2022
Georgia Capital announces that Nick Gamkrelidze is to step down
as CEO of Georgia Healthcare
Georgia Capital PLC (the "Company" or "Georgia Capital")
announces today that Nikoloz (Nick) Gamkrelidze is to step down as
Chief Executive of JSC Georgia Healthcare Group ("GHG"), the
wholly-owned subsidiary of Georgia Capital. He will be replaced as
GHG's CEO by Irakli Gogia, currently Deputy CEO, Finance of GHG
with immediate effect.
On 9 May 2022, the Board announced the separation of the roles
of Georgia Capital's Chairman and CEO, upon the completion of
Irakli Gilauri's current employment contract as Chairman and CEO in
May 2023, with Irakli Gilauri continuing in the role of Board
Chairman and Nick Gamkrelidze assuming the role of Chief Executive
Officer in May 2023. Following Nick's departure from GHG, he will
not now take up the role of Georgia Capital CEO in May 2023, and
the Board of Georgia Capital will announce a further update in due
course with regard to the appointment of a new CEO. Irakli Gilauri,
as previously announced, will continue in his existing combined
Chairman and CEO role until May 2023.
Irakli Gilauri, Chairman and CEO of Georgia Capital , commented:
"Nick has been with the Group in a number of senior management
positions for many years and has more recently been instrumental in
the development of Georgia Healthcare over the last decade. He has
created a great business that has delivered, and continues to do
so, an excellent operational performance resulting in consistent
strong growth and profitability. He has also been actively involved
in Georgia's management of the global pandemic over the last 2
years, and he leaves with our strong gratitude for all of his
outstanding achievements. Nick has also built and developed a
fantastic management team, and it is great that we have Irakli
Gogia in the position to succeed Nick with immediate effect."
Nick Gamkrelidze commented : "It has been my privilege to have
led Georgia Healthcare through all of its successes over the last 7
years. The business is a great ongoing success story reflecting the
significant progress the excellent management and clinical teams
have made in institutionalising exceptional governance and high
standards of clinical and operational performance. Going forward,
the business could not be in better hands than those of Irakli
Gogia, and I wish him and the entire team the very best success. I
am certain they will continue to deliver exceptional
performance."
Irakli Gogia commented : "It is a great honour and a privilege
to take on the role of CEO of Georgia Healthcare Group. I would
like to thank Nick for his invaluable contribution building the GHG
healthcare institution, with a highly professional and capable
management team, that creates substantial value for the country and
for our shareholders."
Name of authorised official of issuer responsible for making
notification: Michael Oliver, Adviser to the Chairman &
CEO.
This announcement contains information that qualified or may
have qualified as inside information for the purposes of Article 7
of the Market Abuse Regulation (EU) 596/2014 as it forms part of
the UK domestic law by virtue of the European Union (Withdrawal)
Act 2018 .
About Georgia Capital PLC
Georgia Capital is a platform for buying, building and
developing businesses in Georgia with holdings in sectors that are
expected to benefit from the continued growth and further
diversification of the Georgian economy. The Group's focus is
typically on larger-scale investment opportunities in Georgia,
which have the potential to reach at least GEL 300 million equity
value over 3-5 years from the initial investment and to monetise
them through exits, as investments mature. Georgia Capital
currently has the following portfolio businesses: (i) a healthcare
services business; (ii) a retail (pharmacy) business, (iii) an
insurance business (P&C and medical insurance); (iv) a
renewable energy business (hydro and wind assets) and (v) an
education business; Georgia Capital also holds other small private
businesses across different industries in Georgia; a 20% equity
stake in the water utility business and a 19.9% equity stake in LSE
premium-listed Bank of Georgia Group PLC ("BoG"), a leading
universal bank in Georgia.
JSC Georgia Capital has, as of
the date hereof, the following
credit ratings:
S&P Global 'B+'/FC & 'B+'/LC
Moody's B1/CFR & B1/PDR
For further information, please visit www.georgiacapital.ge or
contact:
Irakli Gilauri Giorgi Alpaidze Michael Oliver Shalva Bukia
Chairman and Chief Executive Chief Financial Officer Adviser to the Chairman & CEO Head of Investor Relations
ir@gcap.ge +995 322 005 000 +44 203 178 4034 + 995 322 005 045
ir@gcap.ge ir@gcap.ge ir@gcap.ge
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solicitation of an offer to buy any securities
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END
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