REG - Lion Finance Grp PLC - Lion Finance Group announces share buybacks

Lion FinanceAnnouncement

25/02/2025 07:00

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RNS Number : 2788Y  Lion Finance Group PLC  25 February 2025

 

 

London, 25 February 2025

 

Lion Finance Group PLC announces GEL 107.7 share buyback programme extension

 

Lion Finance Group PLC (the "Company" or the "Group" and formerly Bank of
Georgia Group PLC) announces today that its Board of Directors (the "Board")
has approved a GEL 107.7 million extension to its buyback and cancellation
programme (the "Programme").  The Programme is consistent with the Group's
capital distribution policy to target a dividend/share buyback payout ratio in
the range of 30-50% of annual profits.

 

The programme will commence shortly and end no later than the Company's Annual
General Meeting 2025 (expected to be in June 2025) and the shares will be
purchased in the open market. The purpose of the buyback is to reduce the
Group's share capital, and the cancellation of the treasury shares repurchased
will be executed on a monthly basis. The Programme will be conducted within
certain pre-set parameters, and in accordance with the general authority to
repurchase shares granted at the 2024 Annual General Meeting, Chapter 9 of the
FCA UK 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 maximum number of shares that may be
repurchased under the programme is 3,860,721. The Company has appointed
Cavendish Capital Markets Limited ("Cavendish") to manage the Programme.
During any closed periods the Company and its directors have no power to
invoke any changes to the Programme and it will be executed at the sole
discretion of Cavendish.

 

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:
Nini Arshakuni, Head of Investor Relations

About Lion Finance Group PLC

Lion Finance Group PLC (LSE: BGEO LN) is a FTSE 250 holding company whose main
subsidiaries provide banking and financial services focused in the high-growth
Georgian and Armenian markets through leading, customer-centric, universal
banks - Bank of Georgia in Georgia and Ameriabank in Armenia. By building on
our competitive strengths, we are committed to driving business growth,
sustaining high profitability, and generating strong returns, while creating
opportunities for our stakeholders and making a positive contribution in the
communities where we operate.

Legal Entity Identifier: 213800XKDG12NQG8VC53

For further information, please visit www.lionfinancegroup.uk
(https://lionfinancegroup.uk/) or contact:

 

 Michael Oliver                          Sam Goodacre                                Nini Arshakuni
 Adviser to the CEO                      Adviser to the CEO                          Head of Investor Relations
 +44 203 178 4034                        +44 745 398 8513                            +44 203 178 4034
 moliver@lfg.uk (mailto:moliver@lfg.uk)  sgoodacre@lfg.uk (mailto:sgoodacre@lfg.uk)  ir@lfg.uk

 

 

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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