LONDON - Georgia Capital PLC (LSE:CGEO), a London-listed investment platform, has publicly addressed recent media speculation concerning its Chairman and CEO, Irakli Gilauri. Reports last week from Radio Liberty Georgia suggested that US House Representatives might be calling for action against Gilauri among others, in relation to political events in Georgia.
The company's Board of Directors stated today that it has no knowledge about the origin of the alleged list of individuals and is in the process of seeking clarification from US officials. Georgia Capital emphasized that its main shareholders are primarily US and European institutional investors and reiterated its commitment to high corporate governance standards. The Board expressed full confidence in Gilauri, asserting his leadership adheres to these standards and highlighting the company's policy of non-involvement in Georgian politics.
The Board also dismissed any notion that the US or any other government should consider actions against Gilauri and assured that the company would take necessary steps to address any unwarranted accusations directed at it or its CEO.
Georgia Capital's portfolio includes various sectors such as retail (pharmacy), insurance, healthcare, renewable energy, education, and clinics and diagnostics, aiming to capitalize on Georgia's economic growth. The company also holds a 20% equity stake in the water utility business and approximately 20% in Bank of Georgia Group PLC, a leading banking institution in Georgia and Armenia.
The company's credit rating, as of today, is 'BB-'/FC & 'BB-'/LC by S&P Global (NYSE:SPGI). This announcement comes in response to the speculative media report, and Georgia Capital has taken this opportunity to clarify its position and reaffirm its governance principles. This information is based on a press release statement from Georgia Capital PLC.
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