Last checked at 21 Dec 2017 14:21
London, 21 December 2017
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a) | Name | Ekaterina Shavgulidze | ||||||||
2. | Reason for the notification | |||||||||
a) | Position / status | PDMR - Group Head of Business Development | ||||||||
b) | Initial notification / amendment | Initial notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a)
| Name
| BGEO GROUP PLC
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b) | LEI: | 2138003B6YI9N5H99688
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4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
a) | Description of the financial instrument, type of instrument
Identification Code | ordinary shares of £0.01 each in BGEO Group PLC
GB00B759CR16 | ||||||||
b) | Nature of the transaction | Disposal of ordinary shares | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Volume - Price - Total |
4830 £35.0 £169,050 | ||||||||
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e) | Date of the transaction | 20 December 2017
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f)
| Place of the transaction | London Stock Exchange (XLON) | ||||||||
Name of authorised official of issuer responsible for making notification: Rebecca Wooldridge, Company Secretary
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on its strategy of: (1) at least 20% ROAE from its Banking Business; (2) 15%-20% growth of its Banking Business loan book; (3) at least 25% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018.
Banking Business: Currently representing at least 80% of the Group's profit, will comprise: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services.
Investment Business: Currently representing up to 20% of the Group's profit, will comprise the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (London Stock Exchange PLC) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m2 Real Estate ("Real Estate Business" or "m2"), Teliani Valley ("Beverage Business" or "Teliani") and Aldagi ("Property and Casualty Insurance Business" or Aldagi"). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.
JSC BGEO Group has, as of the date hereof, the following credit ratings: | Bank of Georgia has, as of the date hereof, the following credit ratings: | ||
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Fitch Ratings | 'BB-/B' | Fitch Ratings | 'BB-/B' |
Moody's | B1/NP (FC) & B1/NP (LC) | Moody's | 'Ba3/NP' (FC) & 'Ba2/NP' (LC) |
For further information, please visit www.bgeo.com or contact:
Irakli Gilauri | Michael Oliver | Giorgi Alpaidze |
Group CEO | Adviser to the CEO | Group CFO |
+995 322 444 109 | +44 203 178 4034 | +995 322 444 190 |
igilauri@bgeo.com | moliver@bgeo.com | g.alpaidze@bgeo.com |
This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities