TBC PLC Investment in JSC TBC Bank

RNS Number : 9911S

TBC Bank Group PLC

29 December 2016

 

TBC PLC Investment in JSC TBC Bank

TBC Bank Group PLC ("TBC PLC") announces that it has invested GEL 100 million into its subsidiary, JSC TBC Bank ("TBC Bank"), for the purpose of optimization of the group's capital structure. To enable this transaction, TBC Bank intends to increase its authorized share capital by 2,620,638 new ordinary shares which will be offered pro-rata to all existing shareholders of TBC Bank. TBC PLC has subscribed for 2,578,649 new ordinary shares and the minority shareholders of TBC Bank are granted an option to subscribe for the remaining 41,989 new ordinary shares during a 30 calendar day period that will expire on 27 January 2017.

If you have any questions, please contact:

Head of Investor Relations

Anna Romelashvili 

[e-mail]

About 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 TBC Bank on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG.

About TBC Bank

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking deposits (35.5% with Bank Republic) as at 30 September 2016, according to the data published by the NBG.

 

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