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