Director/PDMR Shareholding

Released : 11 Jan 2016 13:15

RNS Number : 4698L
Bgeo Group PLC
11 January 2016
 

           

London, 11 January 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), Georgia's leading bank, was notified on Friday, 8 January 2016, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased in the market 70,139 BGEO ordinary shares (Shares) at an average price of £18.1385 per Share this past Friday. The purchase was made by Sanne in its absolute discretion.

 

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.

 

Following the above transaction, the Trust holds a total of 1,301,097 Shares, representing approximately 3.29% of the Company's issued ordinary share capital.

 

Of the 1,301,097 Shares held by the Trust, 722,225 of these Shares have already been awarded and have vested or remain 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 34.7% (based on total assets), 32.7% (based on total loans) and 31.9% (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 September 2015, the bank served approximately 1.9 million client accounts through one of the largest distribution networks in Georgia, with 260 branches, the country's largest ATM network, comprising 703 ATMs, 2,354 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).

 

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's

'BB-/B'


FitchRatings

'BB-/B'


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

+995 322 444 109

          +44 203 178 4034

         +995 322 444 205

igilauri@bog.ge

          moliver@bog.ge

          eshavgulidze@bog.ge

 

 

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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