Director/PDMR Shareholding

RNS Number : 2590T

Bgeo Group PLC

24 March 2016

 

London, 24 March 2016

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

BGEO Group Plc (BGEO) was notified today, 24 March 2016, that Mikheil Gomarteli and Avto Namichieshvili, each a Person Discharging Managerial Responsibility (PDMR), had sold BGEO ordinary shares (BGEO Shares) and exercised nil-cost options to acquire BGEO Shares with a nominal value of £0.01 per BGEO Share pursuant to the executive equity compensation plan (Nil-Cost Options), respectively, as set out below.

Mikheil Gomarteli sold 25,000 BGEO Shares on 22 March 2016 at a price of £20.27 per BGEO Share. Following the sale of BGEO Shares, Mr Gomarteli continues to hold 92,951 vested and unvested BGEO Shares, representing approximately 0.24% of BGEO.

Avto Namichieshvili exercised 46,000 Nil Cost Options on 23 March 2016. A total of 9,200 BGEO Shares were withheld to meet tax liabilities, resulting in Mr Namichieshvili receiving 36,800 BEGO Shares.

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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