Director/PDMR Shareholding

RNS Number : 6205S

Bgeo Group PLC

18 March 2016

 

London, 18 March 2016

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

BGEO Group Plc (BGEO) was notified yesterday, 17 March 2016, that Tornike Gogichaishvili and Irakli Burdiladze, each a Person Discharging Managerial Responsibility (PDMR), had sold BGEO ordinary shares (BGEO Shares) as set out below.

·      Tornike Gogichaishvili sold a total of 3,680 BGEO Shares on 15 and 16 March 2016. On 15 March 2016, Mr Gogichaishvili sold 2,000 BGEO Shares at a price of £18.77 per BGEO Share and on 16 March 2016, he sold 1,680 BGEO Shares at a price of £18.50 per BGEO Share. Following the sale of BGEO Shares, Mr Gogichaishvili continues to hold 17,941 vested and unvested BGEO Shares, representing approximately 0.05% of BGEO.

·      Irakli Burdiladze sold a total of 11,600 BGEO Shares on 16 and 17 March 2016. On 16 March 2016, Mr Burdiladze sold 10,356 BGEO Shares at a price of £18.74 per BGEO Share and on 17 March 2016, he sold 1,244 BGEO Shares at a price of £18.89 per BGEO Share. Following the sale of BGEO Shares, Mr Burdiladze continues to hold 54,500 vested and unvested BGEO Shares, representing approximately 0.14% of BGEO.

BGEO was also notified yesterday and today that Sasha Katsman and Levan Kulijanishvili, each a PDMR, had exercised nil-cost options to acquire BGEO Shares with a nominal value of £0.01 per share pursuant to the executive equity compensation plan (Nil-Cost Options) as set out below.

·      On 16 March 2015, Sasha Katsman exercised 5,600 Nil Cost Options. A total of 1,120 BGEO Shares were withheld to meet tax liabilities, resulting in Mr Katsman receiving 4,480 BEGO Shares.

·      On 18 March 2016, Levan Kulijanishvili exercised 11,277 Nil Cost Options. A total of 2,256 BGEO Shares were withheld to meet tax liabilities, resulting in Mr Kulijanishvili receiving 9,021 BEGO Shares.

This notice is given in fulfillment of the obligation under DTR3.1.4 (1)(a)R.

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 33.4% (based on total assets), 32.0% (based on total loans) and 33.0% (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 31 December 2015, the bank served approximately 2.0 million client accounts through one of the largest distribution networks in Georgia, with 266 branches, the country's largest ATM network, comprising 746 ATMs, 2,589 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).

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's	'BB-/B'
FitchRatings	'BB-/B'
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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