Establishment of Employee Benefit Trust

RNS Number : 1548J

TBC Bank Group PLC

15 August 2019

 

Establishment of Employee Benefit Trust TBC Bank Group PLC ("TBC PLC") announces that it has established the TBC Bank Group PLC Employee Benefit Trust (the "EBT"). It is intended that the EBT will be used to satisfy obligations arising from the TBC Bank Group PLC Deferred Share Plan (the "Deferred Share Plan"), the TBC Bank Group PLC Long Term Incentive Plan and other shares awards granted to employees.  The EBT may purchase ordinary shares of TBC PLC through on-market transactions and may subscribe for newly issued shares. Unless the Deferred Share Plan receives the approval of the shareholders of TBC PLC, the EBT will only use purchased ordinary shares of TBC PLC to satisfy awards granted under the Deferred Share Plan.  It may also purchase ordinary shares where an option or award holder wishes to sell their ordinary shares immediately on exercise or vesting. The EBT will be administered by Sanne Fiduciary Services Limited. 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 38.5% of loans and 41.0% of non-banking deposits as at 30 June 2019, according to data published by the National Bank of Georgia.

 

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