13.Jan .2021 14:00

Changes in MagtiCom - Jokhtaberidze's share up, Rukhadze’s down

Changes in MagtiCom - Jokhtaberidze's share up, Rukhadze’s down
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Changes take place in the shares of the beneficial owners of MagtiCom. The company applied to the Communications Commission for a permit to purchase the shares of beneficial owners of MagtiCom Ltd, so the commission agreed.

According to the amendments, the share of Gia Jokhtaberidze is increasing in MagtiCom Ltd, while the share of other owners is decreasing, including Irakli Rukhadze’s share. Only Edward Spencer Churchill's share of remains unchanged and it still amounts to 15%.

As a result of the change, Gia Jokhtaberidze will have an additional 21% stake, reaching a 75% stake in MagtiCom. However, the share of Irakli and Natalia Rukhadze decreases from 9.3% to 3% in the company.

Today, MagtiCom Ltd shares are distributed as follows:

Giorgi Jokhtaberidze - 54%,
Edward Spencer Churchill - 15%,
Benjamin Albert Manzon 4.34%,
Igor Alekseev - 2.17%,
Irakli Otar Rukhadze and Natalia Rukhadze - 9.3%, Natela Sakhokia - 9.3%,
Vladislav Alekseev - 3.72%,
Victoria Alekseeva (Korzhilova) - 2.17%.

As a result of the transaction the share of remains will be distributed as follows:
Giorgi Jokhtaberidze - 75%,
Edward Spencer Churchill - 15%,
Benjamin Albert Manzon 1.4%,
Igor Alekseev - 0.7%,
Irakli Otar Rukhadze and Natalia Rukhadze - 3%,
Natela Sakhokia - 3%,
Vladislav Alekseev - 1.2%,
Victoria Alekseeva (Korzhilova) - 0.7% .

Today, MagtiCom is owned by 2 companies: International Telsel Cellular LLC - 51%; Telsel Wireless Company LLC ”- 49%. For its part, Telsel Wireless Company is wholly owned by International Telsel Cellular, which ultimate beneficiaries are the above mentioned individuals. Changes and transitions are planned between these companies.

The Commission notes that the planned changes in the structure of MagtiCom Ltd. will not affect the competition on the electronic communications market, as MagtiCom's market share and other economic indicators will remain unchanged.