Bgeo Group PLC BGEO Group announces Transaction in Own Shares (3825O)
August 18 2017 - 2:48AM
UK Regulatory
TIDMBGEO
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 GBP0.01 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: 7,500
Highest price paid per ordinary share: GBP34.23
Lowest price paid per ordinary share: GBP34.23
Volume weighted average price paid per ordinary share: GBP34.23
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: 7,500
Volume weighted average
price (pence): 3423
Individual transaction(s):
Number of Transaction Time of transaction Venue TRN
shares price
purchased (per share)
----------- ------------- -------------------- ------ -----------------
7,500 3423 16:40:13 XLON 00032176150TRLO0
----------- ------------- -------------------- ------ -----------------
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 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 'B1/NP' (FC)
& B1/NP (LC) & 'Ba3/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@bog.ge 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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