| Changes to Board and Board Roles This announcement contains inside information for the purposes of Article 7 of the EU Regulation 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR") and is in accordance with requirements under Article 17 of UK MAR Legal Entity Identifier: 213800T6NS9N2WQ3B328 The Board of TBC Bank Group PLC ("TBC PLC") confirms that Nikoloz Enukidze has stepped down from his roles as Chairman of the Board of TBC PLC and Chairman of the Supervisory Board of TBC Bank JSC (the "Bank") with immediate effect. Arne Berggren, the current Senior Independent Director has been appointed as the Chairman of the Board of TBC PLC and Chairman of the Supervisory Board of the Bank with immediate effect. Mr. Enukidze continues as a non-executive director of the Board of TBC PLC and a member of the Supervisory Board of the Bank; however he has confirmed that he does not intend to seek re-election by the shareholders at the 2021 AGM. As a former Chairman, the Board of TBC PLC does not consider Mr. Enukidze independent for the purposes of the UK Corporate Governance Code. Nevertheless, more than half of the Board, excluding the chair, are independent non-executive directors in compliance with the UK Corporate Governance Code. Further to his appointment as the Chairman, Arne Berggren has stepped down from the membership of Audit Committee, the Senior Independent Director role and Chairmanship and membership roles of the Risk Committee of the Board and the Supervisory Board of the Bank. Abhijit Akerkar has been appointed as an interim Risk Committee Chair. Tsira Kemularia has been elected as an interim Senior Independent Director for both the TBC PLC Board and the Supervisory Board of the Bank. Nicholas Dominic Haag and Eric J Rajendra have confirmed that they do not intend to seek re-election by the shareholders at the 2021 AGM. They will continue as non-executive directors of the Board of TBC PLC and members of the Supervisory Board of the Bank up until the end of that AGM. All other directors (Arne Berggren, Maria Luisa Cicognani, Abhijit Akerkar, Tsira Kemularia and Vakhtang Butskhrikidze) have confirmed their intention to stand for re- election at the upcoming AGM of the Company. The person responsible for arranging the release of this announcement is Zoltan Szalai.
For further enquiries, please contact: Director of International Media and Investor Relations Zoltan Szalai
Or
Head of Investor Relations Anna Romelashvili
About TBC Bank Group PLC ("TBC PLC") TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index. TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 39.0% of loans and 37.2% of non-banking deposits as of 31 December 2020, according to data published by the National Bank of Georgia. |
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