Share Buyback Commencement
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Share Buyback Commencement
TBC Bank Group PLC ("TBC PLC") announces that its Board of Directors has approved the commencement of a share buyback programme in respect of shares having an aggregate value of up to GEL 50 million (the "Programme"). The shares will be purchased in the open market. The purpose of the Programme is to reduce TBC PLC's share capital.
The purchase of shares to be cancelled under the Programme, which will have an aggregate value of up to GEL 50 million, is expected to commence from today.
The repurchase of shares under the Programme will be carried out in accordance with TBC PLC's general authority to repurchase Ordinary Shares granted at its Annual General Meeting held on 19 May 2026 (the "2026 AGM"), the applicable provisions of the UK Listing Rules, and the applicable provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes. The number of shares to be purchased will not exceed the 2026 AGM approved limit of 5,572,679 shares. TBC PLC, in discussions with its broker, Investec Bank PLC ("Investec"), has agreed that on any given trading day, a buyback of shares under the Programme may exceed 25% of the average daily trading volume on each trading platform on which TBC PLC shares are traded. Where a buyback of shares exceeds 25% of the average daily trading volume on any trading platform, TBC PLC will not fall within the exemption contained in Article 5(1) MAR.
TBC PLC has entered into an arrangement with Investec in relation to the purchase by Investec, as riskless principal, of shares of TBC PLC under the Programme, which will commence today and is expected to come to an end on 28 February 2027. During any closed periods, TBC PLC and its directors have no power to make any changes to the Programme, which will be executed at the sole discretion of Investec.
TBC PLC has also decided to, upon the request of the trustees of the TBC Bank Group PLC Employee Benefit Trust ("EBT"), to fund Investec, acting as the broker of the EBT, to enable Investec to acquire shares having an aggregate value of up to GEL 50 million through on-market transactions ("EBT Share Purchase"). The purpose of the EBT Share Purchase is to satisfy future share awards, noting that such acquisitions will be undertaken by Investec at the Instruction of the EBT separately from, and independently of, the Programme. The purchase of shares for the EBT Share Purchase, which will have an aggregate value of up to GEL 50 million is expected to commence from 9 November 2026.
For further enquiries, please contact:
Director of Investor Relations
Andrew Keeley
Or
Head of Investor Relations
Anna Romelashvili
About TBC Bank Group PLC
TBC Bank Group PLC ("TBC Group") is a London-listed financial services group (LSE: TBCG) serving 7.6 million digital monthly active users across Georgia and Uzbekistan through two complementary business models focused on simplicity, accessibility and customer experience. TBC Georgia is a leading financial services provider in the country - a digitally-led franchise across retail, MSME and CIB with a nationwide footprint and a long track record of profitable growth and strong shareholder returns. TBC Uzbekistan is building Central Asia's leading digital financial ecosystem, serving consumers and businesses through a fully digital model.
Founded in Georgia in 1992 and operating in Uzbekistan since 2020, TBC Group has evolved from a national leader into a regional financial services group.
TBC PLC is a public limited company registered in England and Wales. It is a constituent of the FTSE 250 Index and is also included in the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.
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