Bgeo Group PLC Director/PDMR Shareholding (9971Q)
September 18 2017 - 1:58AM
UK Regulatory
TIDMBGEO
RNS Number : 9971Q
Bgeo Group PLC
18 September 2017
London, 18 September 2017
BGEO Group announces market purchase of shares for its Employee
Benefit Trust
BGEO Group PLC (BGEO or the Group) was notified 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 24,776 BGEO ordinary shares (Shares) at a price of
GBP33.02 (rounded to two decimal points) per Share, traded on 15
September 2017 with a settlement date of 19 September 2017.
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 1,483,128 Shares, representing approximately 3.77% of
BGEO's issued ordinary share capital.
Of the 1,483,128 Shares held by the Trust, 1,367,394 Shares are
to be allocated to existing awards, both vested and unvested.
Name of authorised official of issuer responsible for making
notification: Rebecca Wooldridge, 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") and Teliani Valley ("Beverage
Business" or "Teliani"). In addition, Aldagi, which is the Group's
property and casualty insurance business, is expected to be
transferred from the Banking Business to the Investment Business.
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 Bank of Georgia has, as
of the date hereof, the of the date hereof, the
following credit ratings: following credit ratings:
Fitch Ratings 'BB-/B' Fitch Ratings 'BB-/B'
Moody's B1/NP (FC) Moody's 'Ba3/NP' (FC)
& B1/NP (LC) & 'Ba2/NP'
(LC)
For further information, please visit www.bgeo.com or
contact:
Irakli Gilauri Michael Oliver Giorgi Alpaidze
Group CEO Adviser to the Head of Investor
CEO Relations
+995 322 444
+995 322 444 109 +44 203 178 4034 190
igilauri@bgeo.com moliver@bgeo.com g.alpaidze@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
END
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