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TBC Bank Group PLC (TBCG)

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Thursday 15 August, 2019

TBC Bank Group PLC

Update on share repurchase programme

RNS Number : 1550J
TBC Bank Group PLC
15 August 2019
 

 

Update on share repurchase programme

 

TBC Bank Group PLC ("TBC PLC") announces that following the purchased ordinary shares on Wednesday 14 August 2019, the first part of the share repurchase programme (the "Programme"), managed by Renaissance Securities (Cyprus) Limited ("Rencap"), which was announced on 29 July 2019, was completed in accordance with its terms.

In aggregate, between 29 July 2019 and 14 August 2018, TBC PLC repurchased 144,380 ordinary shares.

Following the establishment of the TBC Bank Group PLC employee benefit trust (EBT) as announced separately today, TBC has decided to fund the EBT and to recommend that the trustees of the EBT acquire 451,000 shares through on-market transactions to satisfy share awards to be made under the TBC Bank Group PLC Deferred Share Plan.

Taking into account the fact that TBC is funding EBT share purchase programme, TBC PLC does not currently intend to direct Rencap, or any other broker, to repurchase additional ordinary shares under the Programme. If this should change, an appropriate announcement will be made at the time.

 

 

 

For further enquiries, please contact:

Director of International Media and Investor Relations

Zoltan Szalai

 

Or

 

Head of Investor Relations

Anna Romelashvili

[email protected]

 

About TBC Bank Group PLC ("TBC PLC")

TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index.

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.5% of loans and 41.0% of non-banking deposits as at 30 June 2019, according to data published by the National Bank of Georgia.

 

 


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