Director/PDMR Shareholding

RNS Number : 7688S

Bgeo Group PLC

21 March 2016

 

London, 21 March 2016

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

BGEO Group Plc (BGEO) was notified on Friday, 18 March 2016, that Nikoloz Gamkrelidze, a Person Discharging Managerial Responsibility (PDMR), had both: (i) exercised nil-cost options (Nil-Cost Options) to acquire BGEO ordinary shares (BGEO Shares) with a nominal value of £0.01 per share pursuant to the executive equity compensation plan and (ii) sold BGEO Shares, as described below.

On 18 March 2016, Mr Gamkrelidze exercised 33,750 Nil Cost Options. A total of 6,750 BGEO Shares were withheld to meet tax liabilities, resulting in Mr Gamkrelidze receiving 27,000 BEGO Shares.

Immediately following the exercise of Nil-Cost options, Mr Gamkrelidze sold 20,000 BGEO Shares on the same day at a price of £20.03 per BGEO Share.

Following the sale of BGEO Shares, Mr Gamkrelidze continues to hold 123,500 vested and unvested BGEO Shares, representing approximately 0.31% of BGEO.

This notice is given in fulfilment 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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