BGEO Group announces Transaction in Own Shares

RNS Number : 5272Z

Bgeo Group PLC

15 March 2017

 

London, 15 March 2017

BGEO Group announces Transaction in Own Shares

BGEO Group PLC (BGEO or the Group - LSE: BGEO LN) announces that on 14 March 2017, Numis Securities Limited, purchased the number set out in the table below of its ordinary shares of £0.01 pence each on the London Stock Exchange (the Repurchased Shares) on behalf of the BGEO pursuant to the share buyback and cancellation programme announced on 10 March 2017 (the Buyback Programme).

Date of purchase:	14 March 2017
Number of ordinary shares repurchased:	10,000
Highest price paid per ordinary share:	£29.98
Lowest price paid per ordinary share:	£29.98
Volume weighted average price paid per ordinary share:	£29.98

Application will be made for the Repurchased Shares to be cancelled immediately. Following the cancellation of the Repurchased Shares, the total number of ordinary shares with voting rights will be 39,490,320 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BGEO under the FCA's Disclosure Guidance and Transparency Rules. BGEO Group PLC holds no shares in treasury.   

BGEO will make further announcements following the completion of any further purchases pursuant to the Buyback Programme.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains detailed information about the purchases made by Numis Securities Limited on behalf of BGEO as part of the Buyback Programme. 

Schedule of Purchases: 

Shares purchased:	BGEO Group plc (ISIN: GB00B759CR16)
Date of purchases:	14 March 2017

Aggregate information:

Aggregated volume	Volume-weighted average price, pence	Venue
10,000	2998	London Stock Exchange

Individual transactions:

Number of shares purchased	Transaction price (per share)	Time of transaction
10,000	£29.98	16:31 (UK)

Name of authorised official of issuer responsible for making notification:

Rebecca Wooldridge, Deputy 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 of the date hereof, the following credit ratings:		Bank of Georgia has, as of the date hereof, the following credit ratings:
Fitch Ratings	'BB-/B'	Fitch Ratings	'BB-/B'
Moody's	B1/NP (FC) & B1/NP (LC)	Moody's	'B1/NP' (FC) & '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 CEO	Head of Investor Relations
[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

 

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