Those willing to procure TV company TV 9 from Georgia’s Prime Minister have founded Television JSC, and having sent questions to PM are now waiting for his response.
After Prime Minister Bidzina Ivanishvili publicized his will to sell his family-owned television some members of the society started, via social networks, thinking of founding a joint stock company and afterwards procuring the television.
The initiators of the JSC having met with Bidzina Ivanishvili founded the company on September 9. The JSC founders include Ia Antadze, Biard Chairwoman of the Civic Development Institute, former TV 9 presenter Vasil Maglaperidze, and Tsotne Gamsakhurdia, the son of the first President of Georgia Zviad Gamsakhurdia.
GEL 3 thousand was determined to be the authorized capital. Nominal value per share is GEL 1. Vasil Maglaperidze was appointed Director of the organization. For just three months, he says, and afterwards he will get back to journalism.
At the shareholders meeting eight members of the Supervisory Board were elected, including Nino Zuriashvili, Head of Monitor Studio, David Zilpimiani, co-owner of First Stereo, actress Nata Murvanidze, writer Merab Ratiani, mathematician Tamaz Avalishvili, Gogi Loladze, Chairman of the Supervisory Board of the Georgian Stock Exchange, writer Paata Kurdadze, journalist Ramilia Aliyeva and Mamuka Kuparadze, head of Studio Re. The latter was elected Chairman of the board.
The Goals of the Television JSC
The Television JSC founders are sure they will be able to make the channel into a profitable business. “We consider five percent of the advertising market. We entertain some ideas we are going to attract this portion of market through,” said Ia Antadze speaking at the September 13 press conference.
The applicable legislative framework together with the public statute makes them feel sure the joint stock company will be a success like in other countries, Gogi Loladze said.
To let seekers purchase shares a public offer is to be made. Therefore, primarily the company has got three founders only. They think later their number is going to increase sharply and the owners will be diversified. When shareholders get together the name of the television as well as the logo will be chosen, and the Supervisory Board is quite possible to be changed.
The founders sound certain that under the circumstances of daily supervision over TV production, and Supervisory Board’s control over financial conditions and programming priorities some political orders look impossible. Therefore, they don’t mind having Bidzina Ivanishvili as a co-founder.
Following the meeting with the founders Prime Minister Bidzina Ivanishvili said he stands ready to become co-shareholder of the company. When the limit of shares is determined, Gogi Loladze said, the maximum number of shares a single person is eligible to purchase will be clear and whether any person, including Bidzina Ivanishvili will be able to purchase ordinary as well as privileged shares.
According to the Television JSC statute unlike ordinary shareholders the privileged shareholders enjoy no right to vote at the common sitting but when distributing public profit they have a right to receive dividends, earlier than ordinary shareholders, in proportion to their equity participation.
Due to the limit set on ordinary shares and a possibility of buying indefinite amount of privileged shares the founders think neither Ivanishvili’s factor not any other big shareholders would be able to have influence on the TV operation. The possibility of unreasonable interference, that might damage TV prestige and devaluate shares, is minor.
The JSC founders made a request to Bidzina Ivanishvili to hand over the technical equipments needed for the TV operation. According to Vasil Maglaperidze they stand ready to receive equipments in any form – rent, lease or purchase.
The JSC founders sent a letter to Bidzina Ivanishvili on September 9 to notify him of the official registration of the company. Thus far no response has been delivered from theGeorgia’s PM.