Cancellation of Treasury Shares

RNS Number : 9334J

Georgia Capital PLC

22 August 2019

 

                London, 22 August 2019

Cancellation of shares bought back under buyback programme

Georgia Capital PLC (the "Group" or "Georgia Capital") announces that the Group has today cancelled 650,375 treasury shares bought back under the US$45 million share buyback programme (the "Programme"). As a result, the total number of shares cancelled since the launch of the Programme is 2,650,375. The cancellation reflects the Group's strong financial position and an efficient allocation of capital. Following the cancellation, the total number of ordinary shares in issue will be 36,734,337, while 2,340,818 shares are held in the JSC Georgia Capital Executive Equity Compensation Trust (the "Trust") (of which, 917,527 shares are allocated to existing awards).

As announced on 1 August 2019, the Group has commenced a market purchase of the Group's shares of up to US$ 20 million for the Trust.

In accordance with Listing Rule 12.6.4, the Group discloses the following information:

Date of cancellation	22 August 2019
Number of ordinary shares held in treasury cancelled	650,375
Total number of ordinary shares held in treasury following the cancellation	nil
Total number of ordinary shares in issue following the cancellation (excluding shares held in treasury)	36,734,337

Name of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Chief Financial Officer

About Georgia Capital PLC

Georgia Capital is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Group seeks to capture growth in the sectors in which it currently operates and drive the development of new high-growth businesses in Georgia, which it intends to add either by acquiring businesses in their early development stage or by establishing greenfield businesses, often consolidating fragmented or underdeveloped markets. The Group currently has six private company holdings: (i) a water utility business (GGU), (ii) a renewable energy business (GGU); (iii) a housing development business (m²)  (iv) a hospitality and commercial real estate business (m²); (v) a property and casualty insurance business (Aldagi) and (vi) a beverages business (Georgia Beverages). In addition Georgia Capital has two public company holdings (London Stock Exchange premium-listed Georgian companies): (i) Georgia Healthcare Group PLC ("GHG"), (57% equity stake), a UK incorporated holding company of the largest healthcare services provider in Georgia, which is also the largest pharmaceuticals retailer and wholesaler in the country; and (ii) Bank of Georgia Group PLC ("BoG"), (19.9% equity stake), a leading universal bank in Georgia. Additionally, Georgia Capital has three businesses in the pipeline: Education, Auto Service and Digital Services.

JSC Georgia Capital has, as of the date hereof, the following credit ratings:
S&P Global	'B+'/FC & 'B+'/LC
Moody's	B2/CFR & B2/PDR

 For further information, please visit www.georgiacapital.ge or contact: 

Irakli Gilauri	Giorgi Alpaidze	Nino Rekhviashvili
Chairman and Chief Executive	Chief Financial Officer	Head of Investor Relations
[e-mail]	[phone]	+ 995 322 005 045
	[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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