Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information 20. Equity continued Share capital continued Separate share capital of Bank of Georgia Group PLC is described below: Number Amount of shares of shares Ordinary Ordinary 31 December 2017 (Bank of Georgia Group PLC) 2 172 Issue of share capital 39,384,712 4,375,206 Capital reduction – (4,373,910) Cancelation of redeemable shares (2) (172) Issue of share capital in course of Demerger 9,784,716 322 31 December 2018 (Bank of Georgia Group PLC) 49,169,428 1,618 As part of the Demerger, Bank of Georgia Group PLC was established and on 18 May 2018 issued 39,384,712 additional ordinary shares at nominal value of 32 British Pounds each in exchange for the entire issued capital of BGEO Group PLC and became the parent company of BGEO. On 23 May 2018 the Company undertook a planned reduction of capital to create distributable reserves for Bank of Georgia Group PLC. Following the reduction of capital, the nominal value of the Company’s ordinary shares was reduced to one (1) British Penny from thirty-two (32) British Pounds. As a result of the capital reduction, resources which became distributable to the shareholders were fully reclassified to retained earnings. The reduction of capital was a legal and accounting adjustment without any changes in assets and liabilities of the Group. On 29 May 2018 as a result of the Demerger the Company distributed its investment in the Investment Business with a fair value of GEL 1,441,552 thousands to the shareholders of BOGG. On 29 May 2018 BOGG issued additional 9,784,716 ordinary shares at nominal value of one (1) British Penny each. Treasury shares Treasury shares are held by the Group solely for the purpose of future employee share-based compensation. The number of treasury shares held by the Group as at 31 December 2018 comprised 1,543,281 (31 December 2017: 2,268,313, 31 December 2016: 1,843,091), with nominal amount of GEL 51 (31 December 2017: GEL 66, 31 December 2016: GEL 54). Dividends Shareholders are entitled to dividends in British Pounds Sterling. On 9 July 2018, the Shareholders of Bank of Georgia Group PLC declared an interim dividend for 2018 of Georgian Lari 2.44 per share. The currency conversion date was set at 20 July 2018, with the official GEL:GBP exchange rate of 3.2167, resulting in a GBP-denominated final dividend of 0.7585 per share. Payment of the total GEL 122,199 final dividends was received by shareholders on 27 July 2018. On 1 June 2017, the Shareholders of BGEO Group PLC declared a final dividend for 2016 of Georgian Lari 2.6 per share. The currency conversion date was set at 26 June 2017, with the official GEL:GBP exchange rate of 3.0690, resulting in a GBP-denominated final dividend of 0.8472 per share. Payment of the total GEL 101,501 final dividends was received by shareholders on 7 July 2017. On 26 May 2016, the Shareholders of BGEO Group PLC declared a final dividend for 2015 of Georgian Lari 2.4 per share. The currency conversion date was set at 11 July 2016, with the official GEL:GBP exchange rate of 3.0376, resulting in a GBP-denominated final dividend of 0.7901 per share. Payment of the total GEL 97,604 final dividends was received by shareholders on 22 July 2016. Annual Report 2018Bank of Georgia Group PLC 245