Redistribution in Magticom: Gia Jokhtaberidze Grows His Stake

Stakes of Magticom beneficiary owners have been redistributed. As reported, the company had applied to the Georgian National Communications Commission (GNCC) for buying the stake of beneficiary owners.

The GNCC passed due consent. Under the changes, Gia Jokhtaberidze has increased his stake in the company, while the stakes of other owners have decreased, including Irakli Rukhadze. Only Edward Spencer has maintained his stake unchanged (15%).

Gia Jokhtaberidze’s stake has increased by 21% and currently, his total stake in the company accounts for 75%. The ratio of Irakli and Natalia Rukhadzes has decreased from 9.3% to 3%. After redistribution, the stakeholders’ structure in Magticom is as follows: Gia Jokhtaberidze - 75 %, Edward Spencer Churchill - 15%, Benjamin Albert Manzon - 1.4%, Igor Alekseev - 0.7%, Irakli Rukhadze, and Natalia Rukhadze - 3%, Natela Sakhokia - 3%, Vladislav Alekseev - 1.2%, Viktoria Alekseeva - 0.7% Currently, Magticom is owned by International TelCell Cellular LLC (51%) and TelCell Wireless Company LLC (49%).