Bgeo Group PLC Director/PDMR Shareholding (0370C)

TIDMBGEO

RNS Number : 0370C

Bgeo Group PLC

10 April 2017

London, 10 April 2017

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO 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 108,000 BGEO ordinary shares (Shares) at a price of GBP33.45 (rounded to two decimal points) per Share, traded on 7 April 2017 with a settlement date of 11 April 2017.

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 1,352,897 Shares, representing approximately 3.43% of BGEO's issued ordinary share capital.

Of the 1,352,897 Shares held by the Trust, 1,140,944 Shares are to be allocated to existing awards, both vested and unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Group Company Secretary

About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, the "Group"). BGEO aims to deliver on a 4x20 strategy: at least 20% ROAE and at least 20% growth of retail loan book in Banking Business, and at least 20% IRR and up to 20% of the Group's profit from Investment Business.

Banking Business: Our Banking Business comprises at least 80% of the Group's profit and consists of Retail Banking, Corporate Banking and Investment Management businesses at its core and other banking businesses such as P&C Insurance, Leasing, Payment Services and Banking operations in Belarus ("BNB"). The Group strives to benefit from the underpenetrated banking sector in Georgia especially through its Retail Banking services. JSC Bank of Georgia ("BOG" or the "Bank") is the main entity in the Group's Banking Business.

Investment Business: Our Investment Business comprises up to 20% of the Group's profit and consists of Georgia Healthcare Group (Healthcare Business) - an LSE (London Stock Exchange PLC) premium listed company, m2 Real Estate (Real Estate Business), Georgia Global Utilities (Utility Business or GGU) and Teliani Valley (Beverage Business). Georgia's fast-growing economy provides opportunities in a number of underdeveloped markets and the Group is well positioned to capture growth opportunities in the Georgian corporate sector.

 
 JSC BGEO Group has, as               Bank of Georgia has, as 
  of the date hereof, the              of the date hereof, the 
  following credit ratings:            following credit ratings: 
 
      Fitch Ratings   'BB-/B'              Fitch Ratings   'BB-/B' 
      Moody's         B1/NP (FC)           Moody's         'B1/NP' (FC) 
                       & B1/NP (LC)                         & 'Ba3/NP' 
                                                            (LC) 
 

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

 
      Irakli Gilauri          Michael Oliver              Giorgi Alpaidze 
      Group CEO               Adviser to the              Head of Investor 
                               CEO                         Relations 
                                                             [phone] 
      [phone]            [phone]            444 (ext. 3979) 
      [e-mail]             [e-mail]              [e-mail] 
 

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

This information is provided by RNS

The company news service from the London Stock Exchange

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April 10, 2017 03:55 ET (07:55 GMT)