Bgeo Group PLC Director/PDMR Shareholding (7144T)

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RNS Number : 7144T

Bgeo Group PLC

16 October 2017

London, 16 October 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 22,229 BGEO ordinary shares (Shares) at a price of GBP33.22 (rounded to two decimal points) per Share, traded on 13 October 2017 with a settlement date of 17 October 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 1,577,094 Shares, representing approximately 4.00% of BGEO's issued ordinary share capital.

Of the 1,577,094 Shares held by the Trust, 1,367,394 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 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 a 4x20 strategy: (1) at least 20% ROAE from its Banking Business; (2) at least 20% growth of its Banking Business retail loan book; (3) at least 20% 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 representing at least 80% of the Group's profit, will comprise: 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 representing up to 20% of the Group's profit, will comprise the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (London Stock Exchange PLC) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m(2) Real Estate ("Real Estate Business" or "m(2) "), 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.

 
 JSC BGEO Group has, as of the          Bank of Georgia has, as of the 
  date hereof, the following credit      date hereof, the following credit 
  ratings:                               ratings: 
 
      Fitch Ratings     'BB-/B'              Fitch Ratings   'BB-/B' 
      Moody's           B1/NP (FC) &         Moody's         'Ba3/NP' (FC) & 
                         B1/NP (LC)                           'Ba2/NP' (LC) 
 

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

 
      Irakli Gilauri           Michael Oliver              Giorgi Alpaidze 
      Group CEO                Adviser to the CEO          Group CFO 
      [phone]             [phone]        [phone] 
      [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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October 16, 2017 08:17 ET (12:17 GMT)