18 Jun 2018 08:11
London, 18 June 2018
Bank of Georgia Group announces market purchase of shares for its Employee Benefit Trust
Bank of Georgia Group PLC (BOGG or 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 80,000 BGEO ordinary shares of £0.01 each (Shares) at a price of £19.46 (rounded to two decimal points) per Share, traded on 15 June 2018 with a settlement date of 18 June 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 1,153,807 Shares, representing approximately 2.35% of BOGG's issued ordinary share capital.
Of the 1,153,807 Shares held by the Trust, 812,862 Shares are to be allocated to existing awards, both vested and unvested.
Name of authorised official of issuer responsible for making notification: Rebecca Wooldridge, Company Secretary
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company, which comprises: 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 ("Bank of Georgia", "BOG" or the "Bank"), the leading universal bank in Georgia, is the core entity of the Group. The Group targets to benefit from the underpenetrated banking sector in Georgia through both its retail banking and corporate investment banking services and aims to deliver on its strategy: (1) at least 20% ROAE, and (2) 15%-20% 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 | 'Ba3/NP' (FC) & 'Ba2/NP' (LC) |
For further information, please visit www.bankofgeorgiagroup.com or contact:
Kaha Kiknavelidze | Michael Oliver | David Tsiklauri | Natia Kalandarishvili |
Group CEO | Adviser to the CEO | Group CFO | Head of Investor Relations |
+995 322 444 126 | +44 203 178 4034 | +995 322 444 108 | +995 322 444 444 (9282) |
k.kiknavelidze@bog.ge | moliver@bgeo.com | dtsiklauri@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
Bank Of Georgia Group (BGEO)