Nika Gvaramia, the general director and one of the owners of Mtavari Arkhi TV, is stepping down from his position and giving up his 12% share in the TV company.
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He did not fulfill the duties of the general director after his release from prison, and owning a share in the company is incompatible with the party position he will assume in the coming days, Nika Gvaramia says.
"I have complied with the requirements of the law and transferred the share to my Sophi.Good luck to Mtavari, the rest - next week," wrote Nika Gvaramia on social media.
According to the minutes of the Mtavari Arkhi partners' meeting submitted to the public register on February 27, Nika Gvaramia will transfer his share to his wife, Sophio Liluashvili, free of charge.
Giorgi Gabunia, nominated by Nika Gvaramia, will become the general director of the company. The Mtavari Arkhi will also have two directors - Giorgi Kurdadze and Manuchar Akhalaia. They were nominated for this position by the company's largest shareholders, Bakur Jakhaia and BGIM LTD. Giorgi Kurdadze is the owner of a 35% share in the capital of Tele-Radio Company Borjomi LLC.
In addition, two shareholders of Mtavari Arkhi - Maguli Kharebava and Natia Jogiashvili - will transfer their 0.2% shares each to BGIM LTD.
After the changes are registered by the public registry, the shares of "Mtavari Arkhi" will be distributed as follows: BGIM LTD - 39.6%, Bakur Jakhaia - 37%, Sophio Liluashvili - 12%, Giorgi Rurua - 2.5%, Nikoloz Sisauri - 3%, University of Georgia LLC - 2%, Omega Motor Group LLC - 0.2%, Omega Motors Tbilisi LLC - 0.2%, Teimuraz Vasilidze - 1%, and Mari Anna Rurua - 2.5%.
Mtavari Arkhi was founded by Nika Gvaramia in 2019. Before that, he was the general director of Rustavi 2 TV company. In March 2017, the Supreme Court of Georgia assigned "Rustavi 2" to businessman Kibar Khalvashi. Following this decision, the former owners of the TV station, the Karamanishvili brothers, appealed to the European Court of Human Rights and requested a ban on the implementation of the Supreme Court's decision by the Georgian state, claiming that their rights were violated during the dispute's consideration in the Georgian courts. In March 2017, the European Court of Justice applied an interim measure, suspending the execution of the Supreme Court's decision. In July 2019, the European Court declared that there was no violation of the articles of the European Convention on Human Rights. Consequently, the TV company was transferred to the ownership of Kibar Khalvashi.
