Business
Georgia Capital hosts Investor Day in London
Georgia Capital hosts Investor Day in London.
About this update from Georgia Capital Plc
[{"type":"text","content":"\n \n \n \n \n London, 9 May 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Georgia Capital hosts Investor Day in London\n \n \n \n \n \n \n Georgia Capital PLC (the \"Group\" or \"Georgia Capital\") is today hosting an Investor Day for analysts and investors. As part of the investor presentations, the Group will update investors and analysts on its strategic goals and priorities as summarised below.\n \n \n \n \n \n Progress on strategic priorities announced in November 2020\n \n \n The Group has made strong progress on the strategic priorities announced at its last Investor Day in November 2020. \n \n \n ·\n In December 2021, the Group announced the sale of an 80% equity interest in its water utility business to FCC Aqualia for a cash consideration of US$ 180 million.\n \n \n ·\n The Group has successfully completed the sale of selected commercial real estate assets for US$ 45 million with an 11.3% premium to book value as of 31 March 2021\n \n \n In addition, the Group commenced a US$ 10 million share buyback and cancellation programme in August 2021, which was subsequently increased by a further US$ 10 million in the first quarter of 2022; Georgia Healthcare Group signed an SPA to acquire the remaining 33% minority interest in its retail (pharmacy) business, at a 5.25x EV/EBITDA multiple; the Education business has continued to expand via several investment projects in the affordable segment; and. In March 2021 JSC Georgia Capital priced a US$ 65 million Eurobond Tap Issue.\n \n \n \n \n \n Enhanced strategy for 2022 onwards\n \n \n The Group has introduced an updated strategy, where Georgia Capital will focus on: Investing in capital-light opportunities only; adapting its capital management framework; and, putting ESG at the core of its strategy.\n \n \n \n \n \n Implementing the Capital-Light Investment Strategy\n \n \n Georgia Capital will continue to invest in Georgia in sectors not requiring intensive capital commitments. Georgia Capital will also enable its large and capital-light portfolio companies to explore regional growth opportunities, such as the recent expansion of the Retail (Pharmacy) business into Armenia. In capital heavy industries, Georgia Capital will seek to manage third-party money and/or establish partnerships going forw...