Portfolio and Acquisitions Summary 2019
Number of outstanding shares overview & Value creation reconciliation | 2019
Opening balance at 31 December 2018
Buybacks*
Cancellation of prior year buybacks (held in treasury)
Transfer of treasury shares to management trust
Share compensation awards
Number of outstanding shares overview
# of shares issued (1)
39,384,712
(2,085,014)
(565,361)
Unawarded shares in trust (2)
(1,295,154)
(1,409,350)
(686,468)
663,168
# of outstanding shares (1) + (2)
38,089,558
(3,494,364)
(565,361)
(686,468)
663,168
3,435,438
Issue of shares for the acquisition of a 13.6% equity stake in GHG
Closing balance at 31 December 2019
3,435,438
40,169,775
(2,727,804)
37,441,971
The buyback and cancellation together with issuance of 3.4 million shares drove a 1.7% decrease in the number of outstanding shares during 2019.
*2.1 million shares bought back under the programme, were cancelled in 2019. 1.4 million shares were repurchased on the market for management trust.
GEL '000, unless otherwise noted
Value creation - reconciliation of Management Income Statement with NAV Statement
Per Management Income Statement
Per NAV Statement
Dividend income (1)
Investment return (2)
Total (1)+(2)
Listed portfolio companies
Of which, Georgia Healthcare Group PLC
Of which, Bank of Georgia Group PLC
Private portfolio companies
Late Stage
Of which, Water Utility
Of which, Housing Development
Of which, P&C Insurance
Early Stage
28,932
(62,869)
(33,937)
(33,937)
3,982
(203,109)
(199,127)
(199,127)
24,950
140,240
165,190
165,190
93,287
75,021
168,308
168,308
93,287
63,722
157,009
157,009
22,000
52,953
74,953
74,953
59,254
(23,630)
35,624
35,624
12,033
34,399
46,432
46,432
(5,098)
(5,098)
(5,098)
Of which, Renewable energy
Of which, Hospitality & Commercial Real Estate
9,918
9,918
9,918
Of which, Beverages
(15,016)
(15,016)
(15,016)
Pipeline businesses
16,396
16,396
Of which, Auto Service
17,056
17,056
Of which, other
(659)
(659)
Total investment return / total value creation
122,219
12,152
134,371
134,371
GEORGIA
CAPITAL
16,396
17,056
(659)
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