RNS Number : 1548J
TBC Bank Group PLC
15 August 2019
Establishment of Employee Benefit Trust
TBC Bank Group PLC ("TBC PLC") announces that it has established the TBC Bank Group PLC Employee
Benefit Trust (the "EBT"). It is intended that the EBT will be used to satisfy obligations
arising from the TBC Bank Group PLC Deferred Share Plan (the "Deferred Share Plan"), the TBC
Bank Group PLC Long Term Incentive Plan and other shares awards granted to employees. The
EBT may purchase ordinary shares of TBC PLC through on-market transactions and may subscribe
for newly issued shares. Unless the Deferred Share Plan receives the approval of the shareholders
of TBC PLC, the EBT will only use purchased ordinary shares of TBC PLC to satisfy awards granted
under the Deferred Share Plan. It may also purchase ordinary shares where an option or award
holder wishes to sell their ordinary shares immediately on exercise or vesting. The EBT will
be administered by Sanne Fiduciary Services Limited.
For further enquiries, please contact:
Director of International Media and Investor Relations
Head of Investor Relations
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact email@example.com or visit www.rns.com.
(END) Dow Jones Newswires
August 15, 2019 02:30 ET (06:30 GMT)