Georgia Capital PLC (the "Company" or "Georgia Capital") announces today that its board of directors (the “Board”) has approved an increase to the current US$ 50 million share buyback and cancellation programme of an additional US$ 18 million, which will be put in place immediately. 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.
The US$ 18 million increase to the existing share buyback and cancellation programme will complete the Company’s previously announced intention to commit GEL 300 million to capital returns through the end of 2026, significantly ahead of schedule. As announced on 26 June 2025, the Company will announce the use of proceeds from the exercise of its option to put a 20% equity stake in Georgia Global Utilities JSC following the receipt of funds at the end of July.
In 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 5,233,275. 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). The programme is extended by three months, until 2 October 2025.
The Company has appointed Numis Securities Limited (“Deutsche Numis”) to manage an irrevocable, non‐discretionary 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.
The Company will make further announcements in due course following the completion of any share repurchases.
