RNS Number : 0186Z

Georgia Capital PLC

20 January 2022

London, 20 January 2022

US$ 5 million increase to the existing buyback programme

Georgia Capital PLC (the "Company" or "Georgia Capital") announces today that its board of directors (the "Board") has approved an increase in the current US$ 10 million share buyback and cancellation programme of an additional US$ 5 million. Since the commencement of the buyback programme in August 2021, 1,058,582 shares with the total value of US$ 9,166,650 have been repurchased, of which 823,582 shares have been cancelled. The programme continues for the 12-month period beginning 10 August 2021 and the shares continue to be purchased in the open market. The purpose of buyback is to reduce the share capital and the cancellation of the treasury shares is executed on a monthly basis.

In accordance with the authority granted by the shareholders at the 2021 annual general meeting ("AGM"), the maximum number of shares that may be repurchased is 7,180,777. The programme is conducted within certain pre-set parameters, and in accordance with the general authority to repurchase shares granted at the 2021 AGM, Chapter 12 of the FCA Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the UK, from time to time, including, where relevant, pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019).

The Company has appointed Numis Securities Limited ("Numis") to manage an irrevocable, non--discretionary share buyback programme until the end of the programme on 9 August 2022. 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 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: Giorgi Alpaidze, Chief Financial Officer

About Georgia Capital PLC

Georgia Capital 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 Group's focus is typically on larger-scale investment opportunities in Georgia, which have the potential to reach at least GEL 0.5 billion 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 healthcare services business; (ii) a water utility business; (iii) a retail (pharmacy) business, (iv) an insurance business (P&C and medical insurance); (v) a renewable energy business (hydro and wind assets) and (vi) an education business; Georgia Capital also holds other small private businesses across different industries in Georgia and a 19.9% equity stake in LSE premium-listed Bank of Georgia Group PLC ("BoG"), a leading universal bank in Georgia.

 JSC Georgia Capital has, as of 
  the date hereof, the following 
  credit ratings: 
 S&P Global      'B'/FC & 'B'/LC 
 Moody's         B2/CFR & B2/PDR 

For further information, please visit 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                      +995 322 005 000          +44 203 178 4034                + 995 322 005 045 
                                 ir@gcap.ge                ir@gcap.ge                      ir@gcap.ge 

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January 20, 2022 02:00 ET (07:00 GMT)

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