Last checked at 30 Jun 2022 14:03
London, 30 June 2022
Bank of Georgia Group PLC announces market purchase of shares for its Executive Benefit Trust
Bank of Georgia Group PLC (the "Group") was notified by Sanne Fiduciary Services Limited ("Sanne"), acting as trustee as below, that Sanne, through an independent broker, carried out the following purchase in the Group's ordinary shares with a nominal value of £0.01 each (Shares) on the London Stock Exchange:
Sanne Fiduciary Services Limited acting as trustee of the Rubicon Executive Equity Compensation Trust: | |
Number of Shares acquired | 36,897 |
Average price paid per Share (rounded to two decimal points) | £14.35 |
Date of transaction | 29 June 2022 |
Settlement date of transaction | 1 July 2022 |
Number of Shares held by the Trust following settlement of the above transaction | 1,574,951 |
Number of Shares allocated to existing awards | 1,274,652 |
Percentage of the Group's issued share capital (rounded to two decimal points) | 3.20% |
Rubicon Executive Equity Compensation Trust holds 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.
Name of authorised official of issuer responsible for making notification:
Link Company Matters Limited, Company Secretary
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" and on the LSE: BGEO LN) is a UK incorporated holding company. The Group mainly comprises: a) retail banking and payment business (Retail Banking); and b) corporate banking and investment banking operations (Corporate and Investment Banking) in Georgia. JSC Bank of Georgia ("Bank of Georgia", "BOG", or the "Bank"), a systematically important and leading universal bank in Georgia, is the core entity of the Group. The Bank is a leader in the payments business and financial mobile application, with strong retail and corporate banking franchises. In line with our digital strategy, the Group focuses on expanding technological and advanced data analytics capabilities to offer more personalised solutions and seamless experiences to our customers. Employee empowerment, customer satisfaction, and data-driven decision-making, together with the strength of the banking franchise, are key enablers of the Group's sustainable value creation. By building on its competitive strengths and uncovering more opportunities, the Group is committed to delivering strong profitability sustainably and maximising shareholder value. The Group expects to benefit from the growth of the Georgian economy, and through both its Retail Banking and Corporate and Investment Banking operations, it aims to deliver on its strategy and its key medium-term objectives ̶ at least 20% return on average equity (ROAE) and c.10% growth of its loan book.
JSC Bank of Georgia has, as of the date hereof, the following credit ratings: | |
Fitch Ratings | 'BB-/B' |
Moody's | 'Ba2/NP' |
For further information, please visit www.bankofgeorgiagroup.com or contact:
Archil Gachechiladze | Michael Oliver | Sulkhan Gvalia | Nini Arshakuni |
CEO | Adviser to the CEO | CFO | Head of Investor Relations |
+995 322 444 144 | +44 203 178 4034 | +995 322 444 108 | +995 322 444 444 (7515) |
agachechiladze@bog.ge | moliver@bgeo.com | sgvalia@bog.ge | ir@bog.ge |
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