REG - Georgia Capital PLC - US$ 18m increase to the existing buyback programme

Georgia CapitalAnnouncement

02/07/2025 07:00

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RNS Number : 3807P  Georgia Capital PLC  02 July 2025

London, 2 July 2025

 

 

US$ 18 million increase to the existing share buyback and cancellation
programme

Georgia Capital PLC (the "Company" or "Georgia Capital") announces today that
its board of directors (the "Board") has approved an increase to the current
US$ 50 million share buyback and cancellation programme of an additional US$
18 million, which will be put in place immediately. The shares will be
purchased in the open market and the cancellation of the treasury shares will
be executed on a monthly basis. The purpose of the buyback is to reduce the
share capital. Under the buyback programme, the maximum price paid per share
will not exceed the latest reported NAV per share amount.

 

The US$ 18 million increase to the existing share buyback and cancellation
programme will complete the Company's previously announced intention to commit
GEL 300 million to capital returns through the end of 2026, significantly
ahead of schedule. As announced on 26 June 2025, the Company will announce the
use of proceeds from the exercise of its option to put a 20% equity stake in
Georgia Global Utilities JSC following the receipt of funds at the end of
July.

 

In accordance with the authority granted by the shareholders at the 2025
annual general meeting ("AGM"), the maximum number of shares that may be
repurchased is 5,233,275. The programme is conducted within certain pre-set
parameters, and in accordance with the general authority to repurchase shares
granted at the 2025 AGM, Chapter 12 of the FCA Listing Rules, and the
provisions of the Market Abuse Regulation 596/2014/EU and of the Commission
Delegated Regulation (EU) 2016/1052 (as they form part of UK domestic law).
The programme is extended by three months, until 2 October 2025.

 

The Company has appointed Numis Securities Limited ("Deutsche Numis") to
manage an irrevocable, non‐discretionary share buyback programme until the
end of the programme. During closed periods the Company and its directors have
no power to invoke any changes to the programme and it is being executed at
the sole discretion of Deutsche Numis.

 

The Company will make further announcements in due course following the
completion of any share repurchases.

 

 

 

Name of authorised official of issuer responsible for making notification:
Shalva Bukia, Head of Investor Relations and Funding

About Georgia Capital PLC

Georgia Capital (LEI: 213800Q65T5GNBOW7H65) is a platform for buying, building
and developing businesses in Georgia with holdings in sectors that are
expected to benefit from the continued growth and further diversification of
the Georgian economy. The Company's focus is typically on larger-scale
investment opportunities in Georgia, which have the potential to reach at
least GEL 300 million equity value over 3-5 years from the initial investment
and to monetise them through exits, as investments mature. Georgia Capital
currently has the following portfolio businesses: (i) a retail (pharmacy)
business, (ii) an insurance business (P&C and medical insurance), and
(iii) a healthcare services business. Georgia Capital also holds other small
private businesses across different industries in Georgia; a 20% equity stake
in the water utility business and a 19.3% equity stake (as at 31-Mar-25) in
LSE listed Lion Finance Group PLC ("Lion Finance Group" or the "Bank"),
formerly known as "Bank of Georgia Group PLC", the holding company of leading
universal banks in Georgia and Armenia.

 JSC Georgia Capital has, as of the date hereof, the following credit rating:

 S&P Global      'BB-'/FC & 'BB-'/LC

 For further information, please visit www.georgiacapital.ge
(http://www.georgiacapital.ge) or contact:

 

 Irakli Gilauri                  Giorgi Alpaidze                 Michael Oliver                     Shalva Bukia
 Chairman and Chief Executive    Chief Financial Officer         Adviser to the Chairman & CEO      Head of Investor Relations
 ir@gcap.ge (mailto:ir@gcap.ge)  +995 322 005 000                +44 203 178 4034                   + 995 322 005 045
                                 ir@gcap.ge (mailto:ir@gcap.ge)  ir@gcap.ge (mailto:ir@gcap.ge)     ir@gcap.ge (mailto:ir@gcap.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.

 

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