On March 25-25, 2021 Corporate Governance Workshop will be held in Rooms Hotel in Tbilisi. Event donor and organizer is European Bank of Reconstruction and Development, EBRD; co-organizers are Velox Capital Advisors and Independent Directors Association, whose member Sascha Ternes is one of the workshop speakers.
Day 1Time
Subject
Presenter/Discussant
10:00-10:15
Course outline by MariamQuestion: What do we hope to get out of the course?
Mariam Megvinetukhutsesi, Velox Capital
Session 110:15-11:00
The Independent Directors AssociationThe role of independent directors and supervisory boardsSupervisory boards and crisis managementHow they work? Different roles?- Role in risk management/crisis management?- Role in strategic planning?Role of independent directors?Discussion issuesGroups’ experience of independent directors?Role in Georgian boards?Would they have helped during covid? Can they help now?
Sascha Ternes, Independent Directors Association
11:00-11:15
Coffee
Session 211:15-12:15
Recent changes in Georgian Corporate Governance- Summary of recent changesSupervisory boardsInternal controlsTransparencyProtection of minorities- EU and Association Agreement- Global Context- Capital MarketsQuestions- What are the biggest changes that the participants have experienced?- Are there opportunities that come out of this?
George Welton, GeoWell
Day 2Session 311:00 – 11:45
Corporate governance and overall legal structure in Georgia- Main legal framework of CG in Georgia- Main elements of CGBoard Structure & responsibilitiesOverview of what the following elements usually contain?- Company charter- Code of ethics- Internal auditDisclosure requirements for SARAS and NBG – for different types of companies- Financial- Non-financial disclosuresMinority protections- Minority rights- Conflict of interest- Related party transactionsDiscussion TopicsIn the Covid context, are there specific areas where their company would benefit from advice or would have benefited?Are there any areas where it is useful to go beyond the requirements of the law in terms of transparency and disclosure?Have you been affected by EU rules to expand systems – like environment, or production standards etc?Do you have minority shareholders or are they investors/shareholders in other companies? What challenges does that create?Do the participants have any experience having to think about related party transactions, conflict of interest etc?What would they expect to do to give confidence to new partners – IFIs, potential investors?
George Jugheli Investors CouncilMariam Megvinetukhutsesi, Velox
Coffee11:45 – 12:00
Session 412:00 – 12:30
Capital Markets- Different kinds of financing- Different sources of financingIFIsPrivate EquityCapital marketsQuestions- Other than cost and speed, what are the main questions that people consider when looking at financing?Experience of IFI financing?
Mariam Megvinetukhutsesi, Velox Capital
Session 512:30 – 13.00
Georgian Fixed Income Market update and its development potential
