Business
Commencement of $50 million buyback programme
Georgia Capital PLC announced the commencement of a US$50 million share buyback and cancellation programme, effective for nine months, following a previous US$68 million programme. The buyback, aiming to reduce share capital, will purchase shares on the open market, with cancellations occurring monthly. The maximum price per share will not exceed the latest reported NAV per share. This programme aligns with the company's GEL 700 million capital return programme (running until the end of 2027), encompassing share buybacks, dividends, and potential early bond repayment (US$150 million). A maximum of 4,620,275 shares can be repurchased, under authority granted at the 2025 AGM and within FCA Listing Rules and Market Abuse Regulation guidelines. Numis Securities Limited manages the buyback. JSC Georgia Capital holds a 'BB-'/FC & 'BB-'/LC credit rating from S&P Global. Disclaimer*
About this update from Georgia Capital Plc
[{"type":"text","content":"\n\nLondon, 19 August 2025\n \n \n\n\nCommencement of US$ 50 million share buyback and cancellation programme\n \nGeorgia Capital PLC (the \"Company\" or \"Georgia Capital\") announces that, following the completion of its previously announced US$ 68 million share buyback and cancellation programme, the Company has today launched the US$ 50 million share buyback and cancellation programme (the \"Programme\") approved by its board of directors on 5 August 2025. The Programme will remain in effect for a period of nine months. 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.\n \nThe Programme is consistent with the Company's GEL 700 million capital return programme, announced on 6 August 2025, which will run through the end of 2027 and cover capital returns through share buybacks, dividends, and the potential early paydown of the existing US$ 150 million local Holding Company bonds.\n \nIn 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 4,620,275. 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).\n \nThe Company has appointed Numis Securities Limited (\"Deutsche Numis\") to manage an irrevocable, nonâdiscretionary 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.\n \nThe Company will make further announcements in due course following the completion of any share repurchases.\n \n \n \nName of authorised official of issuer responsible for making notification: Shalva Bukia, Head of Investor Relations and Funding\nAbout Georgia Capital PLC\nGeorgia Capit...