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BGEO Bank Of Georgia Group Plc

5,050.00
-10.00 (-0.20%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bank Of Georgia Group Plc LSE:BGEO London Ordinary Share GB00BF4HYT85 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00 -0.20% 5,050.00 5,050.00 5,080.00 5,190.00 4,800.00 5,000.00 146,644 16:35:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bgeo Group PLC Director/PDMR Shareholding (9971Q)

18/09/2017 7:58am

UK Regulatory


Bank Of Georgia (LSE:BGEO)
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TIDMBGEO

RNS Number : 9971Q

Bgeo Group PLC

18 September 2017

London, 18 September 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 24,776 BGEO ordinary shares (Shares) at a price of GBP33.02 (rounded to two decimal points) per Share, traded on 15 September 2017 with a settlement date of 19 September 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 1,483,128 Shares, representing approximately 3.77% of BGEO's issued ordinary share capital.

Of the 1,483,128 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, Group 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"), m2 Real Estate ("Real Estate Business" or "m2") and Teliani Valley ("Beverage Business" or "Teliani"). In addition, Aldagi, which is the Group's property and casualty insurance business, is expected to be transferred from the Banking Business to the Investment Business. 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               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         '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              Head of Investor 
                                CEO                         Relations 
                                                              +995 322 444 
      +995 322 444 109             +44 203 178 4034            190 
      igilauri@bgeo.com            moliver@bgeo.com            g.alpaidze@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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

September 18, 2017 02:58 ET (06:58 GMT)

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