Bgeo Group PLC Director/PDMR Shareholding (6356W)

TIDMBGEO

RNS Number : 6356W

Bgeo Group PLC

15 November 2017

London, 15 November 2017

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

 
 1.   Details of the person discharging managerial responsibilities / person closely associated 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                        Nikoloz Gamkrelidze 
---  ----------------------------------------------------------  ----------------------------------------------------- 
 2.   Reason for the notification 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Position / status                                           PDMR - CEO of subsidiary Georgia Healthcare Group 
                                                                  PLC 
---  ----------------------------------------------------------  ----------------------------------------------------- 
 b)   Initial notification / amendment                            Initial notification 
---  ----------------------------------------------------------  ----------------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                   BGEO GROUP PLC 
     ------------------------------------------------------  --------------------------------------------------------- 
 b)   LEI:                                                   2138003B6YI9N5H99688 
---  ------------------------------------------------------  --------------------------------------------------------- 
 4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
---  ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          ordinary shares of GBP0.01 each in BGEO Group PLC 
      instrument 
                                                                 GB00B759CR16 
      Identification Code 
---  --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Disposal of ordinary shares 
---  --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    Date           Price(s)    Volume(s) 
                                                                 ------------  ----------  ---------- 
                                                                 13 November 
                                                                  2017          GBP35.33    2,500 
                                                                 14 November 
                                                                  2017          GBP34.41    1,500 
                                                                 15 November 
                                                                  2017          GBP33.48    1,000 
                                                                 ------------  ----------  ---------- 
---  --------------------------------------------------------  ------------------------------------------------------- 
 d)        Aggregated information                               13 November 2017, 2,500 shares were sold at a price 
             *    Aggregated volume                             per share of GBP35.3338 
                                                                Total price: GBP88,334.50 
 
                                                                On 14 November 2017, 1,500 shares were sold at a price 
             *    Aggregated price                              per share of GBP34.4142 
                                                                Total price: GBP51,621.30 
 
                                                                On 15 November 2017, 1,000 shares were sold at a price 
                                                                per share of GBP33.4800 
                                                                Total price: GBP33,480.00 
 
 e)   Dates of the transaction                                  13 November 2017 
                                                                 14 November 2017 
                                                                 15 November 2017 
---  --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange (XLON) 
---  --------------------------------------------------------  ------------------------------------------------------- 
 
 

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               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              Group CFO 
                                CEO 
      [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

This information is provided by RNS

The company news service from the London Stock Exchange

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November 15, 2017 12:26 ET (17:26 GMT)