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TBC Bank Abolishes Shares Alienated from BNYM

TBC Bank Abolishes Shares Alienated from BNYM

TBC Bank pals alienation and abolishment of own shares from Bank New York Mellon (BNYM).

The decision is adopted after the expiration of deposit agreement program with BNYM. TBC Bank Group, holder of TBC will alienate the remained 94 553 shares. The shares will be abolished after the finish of transaction and respectively, TBC Bank’s capital will be declined by the same volume of shares.

At the same time, chartered capital will be determined by 22,44 million GEL, which is divided into 56,111,974 shares, with a nominal value of 0,4 GEL. To remind, TBC Bank placed GDRs on London Stock Exchange in June, 2014.

Bank New York Mellon has been the placement agent to those GDRs (price: $13), by the participation of Barclays bank PLC and UBS Investment Banks, which have been acted as joint global coordinators and book runners. There also has been Renaissance Capital Investment Bank (joint book runner) and co-manager broker Peel Hunt. To note, TBC Bank shares moved in the premium listing on London Stock Exchange from August, 2016.