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London, 11 February 2020
GHG leases a warehouse from M2 for its pharmacy and distribution business
JSC GEPHA, a pharmacy and distribution subsidiary of Georgia Healthcare Group PLC ('GHG'), on 11 February 2020 has signed an agreement (the 'Agreement') with m2, a commercial real estate business, according to which m2 will build and rent out a warehouse to GEPHA. m2 is a wholly owned subsidiary of Georgia Capital PLC, who own a 70.6% shareholding in GHG. The arrangement is on an arm's length basis.
The main terms of the Agreement are:
(i) GEPHA will enter into a 20-year lease agreement with m2, subject to m2 constructing a warehouse in full compliance with GEPHA's and regulatory requirements; and
(ii) GEPHA will pay a monthly lease of US$70,000 (including VAT).
This transaction falls within, and this announcement has been made in accordance with, the requirements of 11.1.10 of the UK Listing Rules.
Name of authorised official of issuer responsible for making notification:
Ketevan Kalandarishvili, Head of Investor Relations
LEI: 213800RJGJDDZENQER80
About Georgia Healthcare Group PLC
Georgia Healthcare Group PLC is a UK incorporated holding company of the largest healthcare services provider in the fast-growing, predominantly privately-owned, Georgian healthcare services market. GHG's leadership position is underpinned by offering the most comprehensive range of inpatient and outpatient services targeting the mass market segment through its vertically integrated network of 18 hospitals and 34 clinics. GHG is the single largest market participant, accounting for 24% of total hospital bed capacity in the country, as of 30 September 2019. GHG is also the largest pharmaceuticals retailer and wholesaler in Georgia, with approximately 32% market share by revenue and the largest provider of medical insurance in Georgia with a 32% market share based on net insurance premiums earned and approximately c.230,000 insurance customers. GHG employed a total of c.16,100 people as at 30 September 2019, including c.3,400 physicians and 3,000 pharmacists.
For further information, please visitghg.com.geor contact:
Nikoloz Gamkrelidze | Irakli Gogia | Ketevan Kalandarishvili |
CEO | CFO | Head of Investor Relations |
+995 322 550505 (5077) | +995 322 550505 (5088) | +995 322 550505 (5079) |
ngamkrelidze@ghg.com.ge | irakligogia@ghg.com.ge | ir@ghg.com.ge |
This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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GHG leases a warehouse from M2 - RNS
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Georgia Healthcare Group plc published this content on 11 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2020 15:42:04 UTC
