Changes to Board Committees and Company Secretary
TBC Bank Group PLC ("TBC PLC") announces that the Board of Directors (the "Board") has today approved a new membership structure of the Board-level committees, as set out below, with immediate effect.
Subject to the National Bank of Georgia's (the "NBG") approval, and in line with the mirror boards structure, TBC PLC, and its main subsidiary JSC TBC Bank ("the Bank"), intend to also appoint all committee members to the same roles on the equivalent committees of the Supervisory Board of the Bank.
The Board has also approved the creation of a new Board-level Technology and Data Committee. In line with the mirror boards structure, TBC PLC intends to create an equivalent committee with the same membership at the Supervisory Board of the Bank as well.
Furthermore, Interim SID Tsira Kemularia, Interim Audit Committee Chair Maria Luisa Cicognani and Interim Risk Committee Chair Abhijit Akerkar have stepped down from their interim roles. Per Anders Fasth has been appointed as Audit Committee chair, Thymios P. Kyriakopoulos has been appointed as Risk Committee chair and Abhijit Akerkar as Technology and Data Committee chair. Eran Klein has been appointed as Senior Independent Director (the "SID").
The new structure and membership of the Board-level committees is as follows:
| C - Chairman | | M - Member |
| Member | Audit Committee | Remuneration Committee | CGN Committee | Risk Committee | Technology & Data Committee |
| Arne Berggren (Chairman) | | M | M | | |
| Eran Klein (SID) | M | | | | M |
| Maria Luisa Cicognani | | C | M | M | |
| Tsira Kemularia | M | M | C | | |
| Per Anders Fasth | C | M | | M | |
| Thymios P. Kyriakopoulos | M | | | C | M |
| Abhijit Akerkar | | | M | M | C |
Finally, the Board has appointed a new in-house Company Secretary, Keti Khukhunashvili with immediate effect. In accordance with the requirements of the UK Companies Act, the Board believes that Ms. Khukhunashvili has the requisite knowledge and experience to effectively discharge the functions of the secretary of TBC PLC. Ms. Khukhunashvili has been with the Bank for approximately 10 years and has served in the role of an assistant company secretary for over 5 years. Prior to this, she was a senior investor relations officer at the Bank. She holds a BA degree from Simmons University and a Certificate in Investor Relations from the IR Society. She is currently pursuing a chartered governance professional qualification from the Chartered Governance Institute.
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 Small Cap 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 38.5% of loans and 39.8% of non-banking deposits as of 31 March 2021, according to data published by the National Bank of Georgia.
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