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SECURITIES ACCOUNTING SYSTEM

SECURITIES ACCOUNTING SYSTEM. PECULIARITIES I N GEORGIA. P R E S E N T A T I O N. M O S C O W O C T O B E R 2 0 0 5. Georgian Securities Market Infrastructure. GEORGIAN OVER-the- COUNTER MARKET. GEORGIAN STOCK EXCHANGE. Central Depository.

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SECURITIES ACCOUNTING SYSTEM

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  1. SECURITIES ACCOUNTING SYSTEM PECULIARITIES I N GEORGIA P R E S E N T A T I O N M O S C O W O C T O B E R 2 0 0 5

  2. Georgian Securities Market Infrastructure GEORGIAN OVER-the- COUNTER MARKET GEORGIAN STOCK EXCHANGE Central Depository Securities Registrars Settlement Banks Brokerage Company Brokerage Company

  3. S E C U R I T I E S D E P O S I T I O N Brokerage Companies Securities Registrars Clients Central Depository

  4. WHO REALIZE DEPOSITORY FUNCTIONS IN GEORGOAN SECURITIES Market Securities Registrars Commercial Banks Brokerage Companies Securities Central Depository

  5. Levels of Nominee Holdership Brokerage Companies Transfer to second-level NH Beneficiary-owners of securities Central Securities Depository Transfer to first-level NH Transfer to second-level NH Commercial Banks Transfer to second-level NH

  6. Nominee Holdership

  7. Types of Nominee Holding • Provide information to customers; • Receives dividends; • Sells/Purchased securities; • Manages securities; • Keeps securities; • Combinations of all the above.

  8. TRADES & ISSUERS • There are precious few quality public companies at present…

  9. ANNUAL RATE of RETURN FLOATING VALUE EMISSION VALUE YEAR Min Max Middle 13 917 000 27,02 44,62 35,64 1997 20 656 800 47 438 400 << << << 1998 82 166 600 3 948 000 << << << 1999 4 800 000 39 221 300 << << << 2000 40 000 000 68 079 800 23,75 198,77 67,32 2001 81 950 000 250 223 000 23,05 81,70 42,94 2002 259 300 000 226 978 700 35,79 54,00 42,94 2003 227 900 000 139 299 800 17,64 25,39 21,33 2004 139 300 000 TREASURIES PRIMARY MARKET

  10. Some Parameters of GCSD in 2004 2635 Number of open brokers’ client accounts (BC) before the year end Number of direct accounts (DI) before the year end 48 1 373 388 816 DepositedSecurities (#), Total 72 304 492 DepositedCash(GEL), Total 1094 Settled Trades

  11. GSE code JSK name Authorized capital stock Outstanding Shares Last price in 2004 CHMN 202 020 000,00 111 000 000 1.000 ChiaturManganumi AES Telasi AEST 81 147 886,00 81 147 886 1.000 Zestafoni Ferrous FERO 29 700 168,00 29 700 168 - KAVT Kutaisi autofactory 26 327 130,00 26 327 130 0.001 POGR Poti shipyard 21 840 000,00 12 000 000 1.920 UGB United Georgian Bank 21 000 000,00 21 000 000 0.700 GRG Gergeti 10 400 000,00 5 200 000 - ENIS Sarajishvili &Eniseli 10 350 000,00 1 812 967 0.200 AMB People’s Bank 10 000 000,00 10 000 000 0.100 GEB Georgian Bank 10 000 000,00 10 000 000 5.597 TOP 10 GEORGIAN JSK (by CAPITAL)

  12. THANK YOU ANY QUESTIONS?

  13. Contact Information Georgian Central Securities Depository TELEFONS: (995 32) 22-07-18; (995 32) 22-07-49 FAX: (995 32) 25-18 -76 WEBSITE: www.gcsd.ge GEORGIA, 0126, TBILISI, Chavchavadze ave. 74a DIRECTOR – SANADZE GAIOZ

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