Last checked at 9 Jul 2018 07:00
London, 9 July 2018
Bank of Georgia Group announces market purchase of shares for its Employee Benefit Trust
Bank of Georgia Group PLC (the Group) was notified by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne, through an independent broker-managed buyback programme, purchased in the market 52,933 Bank of Georgia Group PLC ordinary shares of £0.01 each (Shares) at a price of £18.72 (rounded to two decimal points) per Share, traded on 6 July 2018 with a settlement date of 10 July 2018.
The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.
Upon settlement of the above transaction, the Trust will hold a total of 1,250,540 Shares, representing approximately 2.54% of BOGG's issued ordinary share capital.
Of the 1,250,540 Shares held by the Trust, 698,861 Shares are to be allocated to existing awards, both vested and unvested.
Name of authorised official of issuer responsible for making notification:
Link Company Matters Limited, Company Secretary