Effective Date Announcement for $350 million Notes

London, 22 March 2018

London, 22 March 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. IN PARTICULAR, NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED).

BGEO announces effective date for JSC BGEO Group's US$350,000,000 6.00% Notes Due 2023

BGEO Group PLC (the "Group" or "BGEO") announces that its subsidiary company, JSC BGEO Group (the "Issuer"), the intermediate holding company of the Group, has announced through the Companies Announcement Service of the Irish Stock Exchange that following the notice of results of a meeting published on 18 December 2017, the Supplemental Trust Deed and the Supplemental Agency Agreement will enter into force on 23 March 2018 (the "Effective Date").

The Issuer is pleased to announce that with effect on and from the Effective Date:

(i) Joint Stock Company Bank of Georgia (the "New Obligor") will be substituted in the place of the Issuer in relation to the U.S.$350,000,000 6.00% notes issued on 26 July 2016 (the "2023 Notes") ISIN: XS1405775880;

(ii) the New Obligor will replace the Issuer as principal debtor under the 2023 Notes; and

(iii) the New Obligor will agree to assume all the rights, obligations and liabilities of the 2023 Issuer under the 2023 Notes.

Copies of the Supplemental Trust Deed and the Supplemental Agency Agreement are available for inspection at the specified offices of the Principal Paying Agent, being Citibank, N.A., London Branch at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB, United Kingdom. 

Information on the New Obligor can be viewed at http://www.ise.ie/debt_documents/Final%20Prospectus%2030.05_5f1c13ab-bb00-4b96-8832-d7f72ed02b92.PDF.

Name of authorised official of issuer responsible for making notification: Natia Kalandarishvili, Head of Investor Relations and Funding

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 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 ("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 comprises the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (a London Stock Exchange) 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.

For further information, please visit www.bgeo.com or contact: 

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