Statement from TBC Bank Group PLC:
"TBC Bank Group PLC (TBC) confirms that it has been informed that the Chairman and Deputy Chairman are considering entering into a repurchase transaction with a third party financial institution(s) over TBC ordinary shares representing up to approximately 8% of the total share capital of TBC (or to pledge such shares as part of some other form of lending arrangement).
Pursuant to the repurchase transaction the Chairman and Deputy Chairman would sell their shares to the third party financial institution and agree to repurchase them at a specified date in the future, as a form of borrowing secured on their shares of TBC. Entry into any such transaction would be subject to market conditions."
Currently, the market capitalization of TBC is over £879 million pounds, Khazaradze and Japaridze own 20% of total shares.
