TBC Bank Group PLC TBC PLC Investment in JSC TBC Bank (9911S)
30 December 2016 - 2:16AM
UK Regulatory
TIDMTBCG
RNS Number : 9911S
TBC Bank Group PLC
29 December 2016
TBC PLC Investment in JSC TBC Bank
TBC Bank Group PLC ("TBC PLC") announces that it has invested
GEL 100 million into its subsidiary, JSC TBC Bank ("TBC Bank"), for
the purpose of optimization of the group's capital structure. To
enable this transaction, TBC Bank intends to increase its
authorized share capital by 2,620,638 new ordinary shares which
will be offered pro-rata to all existing shareholders of TBC Bank.
TBC PLC has subscribed for 2,578,649 new ordinary shares and the
minority shareholders of TBC Bank are granted an option to
subscribe for the remaining 41,989 new ordinary shares during a 30
calendar day period that will expire on 27 January 2017.
If you have any questions, please contact:
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About 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 TBC Bank on 10 August 2016. TBC PLC is listed on
the London Stock Exchange under the symbol TBCG.
About TBC Bank
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking
deposits (35.5% with Bank Republic) as at 30 September 2016,
according to the data published by the NBG.
This information is provided by RNS
The company news service from the London Stock Exchange
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