Banking

TBC Bank Abolishes Shares Alienated from BNYM

TBC Bank Abolishes Shares Alienated from BNYM December 4, 2017Leave a comment
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TBC Bank pals alienation and abolishment of own shares from Bank New York Mellon (BNYM).

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

At duration, chartered capital is decided by 22,44 million GEL, which can be broken into 56,111,974 shares, using a nominal importance of 0,4 GEL. To remind, TBC Bank placed GDRs on London Currency markets in June, 2014.

Bank Ny Mellon is the position agent to prospects GDRs (price: $13), via the participation of Barclays bank PLC and UBS Investment Banks, that 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 be aware of, TBC Bank shares moved in the premium listing on London Currency markets from August, 2016.

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