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TBC Bank has Established a Company in the UK in Order to Achieve the LSE’s Premium Listing

TBC Bank has Established a Company in the UK in Order to Achieve the LSE’s Premium Listing

TBC Bank announces about the renovated plans affiliated to the Premium Listing.

In line with its previous announcement, the TBC Bank confirms it plans to launch a tender offer process in due course, enabling the Premium Listing to potentially take place in the middle of the third quarter of 2016.

In order to achieve the Premium Listing, it is intended that a newly-incorporated UK company (called “TBC Bank Group PLC”), which has been established for this purpose, will launch the tender offer to acquire all of the outstanding share capital of the Bank in exchange for ordinary shares in TBC Bank Group PLC. The tender offer process is expected to last around two months from the launch date.

If the tender offer is successful, TBC Bank Group PLC will become the new parent company of the Bank and will seek to complete the Premium Listing shortly thereafter.

Moreover, the Bank plans to engage with its founders and selected institutional shareholders in the coming weeks to seek their support for the Premium Listing.