02 October 2024,   22:18
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Owners of 91% of Rustavi 2 shares issued a statement

 

The owners of 91% shares of Rustavi 2 Broadcasting Company, Giorgi Karamanishvili, Levan Karamanishvili and TV company Georgia LLC have issued the following statement:

"For the last few days together with Georgian society, we have been following with concern the attacks on free media flagship- the Rustavi 2 Broadcasting Company. We would like to underline that we are legal and good faith owners of the TV company. We have carried out several investments in the company. The company"`s valuation has increased at least two times since 2012, while in comparison to Kibar Khalvashi"s ownership period - at least 20 times. Therefore, it is absolutely unclear what the formal plaintiff Khalvashi is demanding to "return" , when during his ownership Rustavi 2 was housed in several rented rooms and was an unprofitable commercial entity. For comparison, today Rustavi 2 is a TV industry, which comprises 3 channels, which employs up to a  thousand of people and which holds the assets of the large infrastructure. Our concern is not so much the seizure of our shares, but sequestration of Rustavi 2 and the ban imposed on its leadership, which eliminates the possibility of a normal operation of the company, and which, most likely, could lead to its bankruptcy. We remind the public that as a result of the dispute against us only our shares can be seized (i.e.Rustavi 2 shares) while the Rustavi 2 property is not our property but the property of an independent legal entity Rustavi 2 Broadcasting Company LLC. Accordingly, the attacks on Rustavi 2`s property and its financial independence suggest that this legally meaningless and futile dispute is aimed at the destruction of free media flagship Rustavi 2 , which, in its turn, would undermine the country`s democratic development and Euro-Atlantic aspirations . We appeal to the government to stop the fight against Rustavi 2. We appeal to non-governmental organizations and the diplomatic corps to observe the ongoing processes around Rustavi 2 and render maximum support to the company which is under attack, "- is said in the statement.

 
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