Bgeo Group PLC Director/PDMR Shareholding (5222L)

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RNS Number : 5222L

Bgeo Group PLC

03 October 2016

London, 3 October 2016

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

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, was notified on Friday, 30 September 2016, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased in the market 41,292 BGEO ordinary shares (Shares) at a price of GBP29.30 (rounded to two decimal points) per Share on the same day (30 September 2016).

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.

Following the above transaction, the Trust held a total of 1,230,034 Shares, representing approximately 3.1% of the Company's issued ordinary share capital.

Of the 1,230,034 Shares held by the Trust, 972,751 Shares are allocated to existing awards, both vested and unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

About BGEO Group PLC

BGEO Group PLC is a UK incorporated holding company of a Georgia-based banking group with an investment arm. Its primary business is the leading Georgian bank JSC Bank of Georgia, which has a market share of 33.5% (based on total assets), 32.1% (based on total loans) and 31.8% (based on client deposits). The banking business offers a broad range of retail banking, corporate banking, investment management and P&C insurance services. As of 30 June 2016, the bank served approximately 2.0 million client accounts through one of the largest distribution networks in Georgia, with 273 branches, the country's largest ATM network, comprising 763 ATMs, 2,681 Express pay (self-service) terminals and a full-service remote banking platform and a modern call center. The investment business primarily consists of the largest healthcare group in Georgia (Georgia Healthcare Group), real estate business (m2) and utility business (Georgia Global Utilities).

 
 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: 
                                           Standard &      'BB-/B' 
                                            Poor's 
      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              Ekaterina (Eka) 
                                                           Shavgulidze 
      Group CEO               Adviser to the              Head of Investor 
                               CEO                         Relations 
                                                             [phone] 
      [phone]            [phone]            205 
      [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 03, 2016 08:21 ET (12:21 GMT)