Dividend Currency Conversion Rate

RNS Number : 1122J

Bgeo Group PLC

26 June 2017

 

London, 26 June 2017

Dividend Currency Conversion Rate

On 1 June 2017, the shareholders of BGEO Group PLC (the "Company") (LSE: BGEO LN) approved the declaration of a final dividend of Georgian Lari 2.6 per ordinary share in respect of the year ended 31 December 2016, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

Ex-Dividend Date: 22 June 2017

Record Date: 23 June 2017

Currency Conversion Date: 26 June 2017

Payment Date: 7 July 2017

The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 26 June 2017 is 3.069 and shall be used to pay dividends to ordinary shareholders of the Company on 7 July 2017.

Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea

on behalf of Sirius Compliance Solutions Ltd

Group 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	Giorgi Alpaidze
Group CEO	Adviser to the CEO	Head of Investor Relations
[phone]	[phone]	[phone] (ext. 3979)
[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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