BGEO Group announces Transaction in Own Shares

RNS Number : 9427Q

Bgeo Group PLC

15 September 2017

 

            London, 15 September 2017

BGEO Group announces Transaction in Own Shares

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

Date of purchase:	15 September 2017
Number of ordinary shares repurchased:	10,000
Highest price paid per ordinary share:	£33.00
Lowest price paid per ordinary share:	£32.66
Volume weighted average price paid per ordinary share:	£32.86

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 39,384,712 which may immediately 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 holds no shares in treasury.   

BGEO will make further announcements following the completion of any additional 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 purchase(s) made by Numis Securities Limited on behalf of BGEO as part of the Buyback Programme. 

Both aggregate data in respect of the Repurchased Shares as well as the individual purchases are set out below.

Aggregate information:

Issuer name and ISIN:	BGEO Group PLC (ISIN: GB00B759CR16)
Date of purchase:	15 September 2017
Number of ordinary shares purchased: Volume weighted average price (pence):	10,000 3286

Individual transaction(s):

Number of shares purchased	Transaction price (per share)	Time of transaction	Platform
3669	3300	14:49:08	XLON
1071	3290	14:18:24	XLON
165	3288	12:49:14	XUBS
100	3287.5	12:32:36	XUBS
88	3287.5	13:00:14	XUBS
97	3287.5	13:08:00	XUBS
94	3287	12:53:30	XUBS
174	3287	13:21:07	XUBS
92	3287	13:22:56	XUBS
89	3287	13:28:28	XUBS
55	3285	12:49:14	CHIX
14	3285	12:49:14	XLON
14	3285	12:49:14	XLON
19	3283.5	13:49:17	XUBS
21	3282	13:48:08	TRQM
31	3282	13:48:08	TRQM
13	3282	13:48:08	TRQM
50	3282	13:48:08	CHID
50	3282	13:48:08	BATD
22	3282	13:48:08	TRQX
8	3282	13:48:08	XUBS
65	3282	13:48:08	TRQM
33	3280.5	13:34:51	XUBS
180	3280	13:42:23	CHIX
132	3280	13:42:23	CHIX
132	3280	13:42:23	CHIX
87	3280	13:42:23	CHID
150	3280	13:42:24	XUBS
102	3280	13:42:24	CHIX
86	3280	13:42:24	CHIX
45	3280	13:42:24	CHIX
86	3280	13:42:24	CHID
82	3279	13:34:51	CHIX
20	3279	13:42:17	XLON
102	3278	12:25:00	XUBS
17	3273.5	12:05:39	XUBS
69	3273.5	12:05:39	XUBS
56	3273	12:05:04	XLON
39	3273	12:05:04	XLON
47	3271	12:05:39	XLON
44	3271	12:05:39	XLON
20	3268	11:46:47	XUBS
906	3268	11:49:30	XLON
83	3268	11:51:14	CHIX
89	3268	12:02:16	XLON
6	3268	12:02:16	XLON
12	3268	12:02:16	XLON
1	3268	12:02:16	XLON
18	3267	11:36:42	XUBS
2	3267	11:36:42	XLON
91	3266	11:48:13	CHID
27	3266	11:49:14	TRQM
165	3265.5	11:37:24	XUBS
94	3265.5	11:42:06	XUBS
183	3265.5	11:46:52	CHIX
181	3265.5	11:46:52	CHIX
181	3265.5	11:46:52	CHIX
40	3265.5	11:46:52	CHIX
141	3265.5	11:46:52	CHIX
45	3265.5	11:46:52	CHID
53	3265.5	11:46:52	CHID
90	3265.5	11:46:52	CHID
62	3265.5	11:46:52	CHIX

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 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	'Ba3/NP' (FC) & '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	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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