JSC Liberty Bank (the “Bank”) announced today the completion of the first Global Depository Receipts (the “GDRs”) conversion transaction. 40,000,000 ordinary shares of the Bank have been converted into 80,000 GDRs.
The Bank has launched its GDR programme together with Bank of New York Mellon in July 2010. Each GDR represents 500 ordinary shares of the Bank.
“I am glad that our shareholders are taking advantage of the GDR programme which we have launched with Bank of New York Mellon in July 2010. Liberty Securities, the Bank’s wholly-owned broker-dealer subsidiary, is acting on the basis of a power-of-attorney from Bank of New York Mellon in Georgia and any shareholder of the Bank is able to convert their shares into GDRs”, noted Lado Gurgenidze, Executive Chairman and Chief Executive Officer of Liberty Bank.