Director/PDMR Shareholding

RNS Number : 9119O

Bgeo Group PLC

10 November 2016

 

London, 10 November 2016

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), was notified today, 10 November 2016, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne, through an independent broker-managed buyback programme, purchased in the market 17,461 BGEO ordinary shares (Shares) at a price of £28.90 (rounded to two decimal points) per Share on 8 November 2016).

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Upon settlement of the above transaction, the Trust will hold a total of 1,320,699 Shares, representing approximately 3.3% of the Company's issued ordinary share capital.

Of the 1,320,699 Shares held by the Trust, 972,751 Shares are allocated to existing awards, both vested and unvested.

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 33.5% (based on total assets), 32.1% (based on total loans) and 31.8% (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 30 June 2016, the bank served approximately 2.0 million client accounts through one of the largest distribution networks in Georgia, with 273 branches, the country's largest ATM network, comprising 763 ATMs, 2,681 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).

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:
		Standard & Poor's	'BB-/B'
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	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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