LONDON: Georgia Capital PLC has initiated a new US$ 50 million share buyback and cancellation programme, following the successful completion of its previously announced US$ 68 million initiative. The new programme, approved by the board on Aug. 5, will run for nine months and aims to reduce the company’s share capital.
Shares will be repurchased on the open market, with cancellations executed monthly. The maximum price per share will not exceed the latest reported net asset value (NAV), the company said Tuesday.
The buyback forms part of Georgia Capital’s broader GEL 700 million capital return strategy, unveiled on Aug. 6, which includes dividends and potential early repayment of US$ 150 million in local Holding Company bonds. The capital return programme is scheduled to run through the end of 2027.
Under the authority granted at the 2025 annual general meeting, the company may repurchase up to 4,620,275 shares. The programme will operate within pre-set parameters and comply with Chapter 12 of the FCA Listing Rules, the Market Abuse Regulation (EU) 596/2014, and Commission Delegated Regulation (EU) 2016/1052, as adopted into UK law.
Georgia Capital has appointed Numis Securities Limited (Deutsche Numis) to manage the buyback on an irrevocable, non-discretionary basis. During closed periods, the company and its directors will not influence the programme, which will be executed solely at Deutsche Numis’s discretion.
Further announcements will be made upon completion of any repurchases.