Establishment of Employee Benefit Trust - update

RNS Number : 6206D

TBC Bank Group PLC

20 February 2020

 

TBC announces the establishment of the employee benefit trust - update

TBC Bank Group PLC ("TBC PLC") announces that following the establishment of the TBC Bank Group PLC employee benefit trust (EBT) as announced on 15th of August 2019, TBC has decided to fund the EBT and to recommend that the trustees of the EBT acquire 602,000 shares through on-market transactions. It is expected that any shares acquired will be used to satisfy share awards to be made under the TBC Bank Group PLC Deferred Share Plan and Long Term Incentive Plan.

For further enquiries, please contact:

Director of International Media and Investor Relations

Zoltan Szalai

Or

Head of Investor Relations

Anna Romelashvili

[e-mail]

About TBC Bank Group PLC ("TBC PLC")

TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index.

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 39.5% of loans and 39.0% of non-banking deposits as at 31 December 2019, according to data published by the National Bank of Georgia.

 

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