Business
Establishment of Employee Benefit Trust
Establishment of Employee Benefit Trust.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \nRNS Number : 1548J TBC Bank Group PLC 15 August 2019 \n\n \n\n\n\nEstablishment of Employee Benefit Trust\n \n \nTBC 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. \n \n \n \nFor further enquiries, please contact:\nDirector of International Media and Investor Relations\nZoltan Szalai\n \nOr\n \nHead of Investor Relations\nAnna Romelashvili\[email protected]\n \nAbout TBC Bank Group PLC (\"TBC PLC\")\nTBC 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.\nTBC 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.\n \n\n\n\n \n\nThis 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 protected] or visit www.rns.com. END MSCKMGMRKKMGLZG\n ","length":3801,"tagName":"div"}]