BGEO Group announces Transaction in Own Shares

Released : 18 Aug 2017 07:48

RNS Number : 3825O
Bgeo Group PLC
18 August 2017



London, 18 August 2017


BGEO Group announces Transaction in Own Shares


BGEO Group PLC (BGEO - LSE: BGEO LN) announces that on 17 August 2017, Numis Securities Limited purchased on behalf of BGEO the number of ordinary shares of £0.01 each on the London Stock Exchange as set out in the table below (the Repurchased Shares) pursuant to the BGEO share buyback and cancellation programme which commenced on 10 March 2017 (the Buyback Programme).


Date of purchase:

17 August 2017

Number of ordinary shares repurchased:


Highest price paid per ordinary share:


Lowest price paid per ordinary share:


Volume weighted average price paid per ordinary share:


Application will be made for the Repurchased Shares to be cancelled immediately. Following the cancellation of the Repurchased Shares, the total number of ordinary shares with voting rights will be 39,404,712 which may immediately be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BGEO under the FCA's Disclosure Guidance and Transparency Rules. BGEO holds no shares in treasury.   

BGEO will make further announcements following the completion of any additional purchases pursuant to the Buyback Programme.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains detailed information about the purchase(s) made by Numis Securities Limited on behalf of BGEO as part of the Buyback Programme. 

Both aggregate data in respect of the Repurchased Shares as well as the individual purchases are set out below.

Aggregate information:

Issuer name and ISIN:        

BGEO Group PLC (ISIN: GB00B759CR16)

Date of purchase:        

17 August 2017

Number of ordinary shares purchased:

Volume weighted average price (pence):



Individual transaction(s):

Number of shares

Transaction price
(per share)

Time of transaction










Name of authorised official of issuer responsible for making notification: Kate Bennett Rea, Group Company Secretary






About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on a 4x20 strategy: (1) at least 20% ROAE from its Banking Business; (2) at least 20% growth of its Banking Business retail loan book; (3) at least 20% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018. 

Banking Business: Currently representing at least 80% of the Group's profit, will comprise: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services.  

Investment Business: Currently representing up to 20% of the Group's profit, will comprise the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (London Stock Exchange PLC) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m2 Real Estate ("Real Estate Business" or "m2"), Teliani Valley ("Beverage Business" or "Teliani") and Aldagi ("Property and Casualty Insurance Business" or Aldagi). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.  


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:

Fitch Ratings


Fitch Ratings



B1/NP (FC) & B1/NP (LC)


'B1/NP' (FC) & 'Ba3/NP' (LC)


For further information, please visit or contact: 

Irakli Gilauri

Michael Oliver

Giorgi Alpaidze

Group CEO

Adviser to the CEO

Head of Investor Relations

+995 322 444 109

          +44 203 178 4034

         +995 322 444 190



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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