REG - Georgia Capital PLC - GCAP exercises its put option in water utility

Georgia CapitalAnnouncement

26/06/2025 07:00

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RNS Number : 5293O  Georgia Capital PLC  26 June 2025

London, 26 June 2025

 

 

Georgia Capital exercises its option to put a 20% stake in the water utility
business

Georgia Capital PLC ("GCAP" or the "Company") announces today that its wholly
owned subsidiary, JSC Georgia Capital ("JSC GCAP"), has exercised its option
to put a 20% equity stake in Georgia Global Utilities JSC ("GGU"). In
accordance with the terms of the shareholders' agreement, the majority
shareholder, Aqualia Georgia LLC ("Aqualia"), is to pay JSC GCAP a put option
price of US$ 70.4 million, determined pursuant to the pre-agreed calculation
mechanism. Completion of the transaction and receipt of the cash proceeds are
expected by the end of July 2025. The use of proceeds, in line with GCAP's
360-degree capital management framework, will be announced following the
receipt of funds.

 

 

 

 

Name of authorised official of issuer responsible for making notification:
Giorgi Alpaidze, Chief Financial Officer

About Georgia Capital PLC

Georgia Capital (LEI: 213800Q65T5GNBOW7H65) 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 Company'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 retail (pharmacy)
business, (ii) an insurance business (P&C and medical insurance), and
(iii) a healthcare services 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 19.3% equity stake (as at 31-Mar-25) in
LSE listed Lion Finance Group PLC ("Lion Finance Group" or the "Bank"),
formerly known as "Bank of Georgia Group PLC", the holding company of leading
universal banks in Georgia and Armenia.

 JSC Georgia Capital has, as of the date hereof, the following credit rating:

 S&P Global      'BB-'/FC & 'BB-'/LC

 For further information, please visit www.georgiacapital.ge
(http://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 (mailto:ir@gcap.ge)  +995 322 005 000                +44 203 178 4034                   + 995 322 005 045
                                 ir@gcap.ge (mailto:ir@gcap.ge)  ir@gcap.ge (mailto:ir@gcap.ge)     ir@gcap.ge (mailto:ir@gcap.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.

 

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