24th Dec 2024 11:26
Georgia Capital PLC - Tbilisi-based investor in Georgian businesses - Completes disposal of its beer and distribution business for net proceeds around USD63 million to a subsidiary of Royal Swinkels NV. The company says the business is now held in a Netherlands-based holding company with Georgia Capital and its minority co-investor holding 20% in a put/call structure and Royal Swinkels holding 80%.
Georgia Capital also on Monday says it will launch a share buyback programme worth USD25 million. The programme will be in effect for six months or until the company's annual general meeting. The purpose of the buyback is to reduce the share capital. The company has appointed Numis Securities Ltd to manage the programme.
Current stock price: 1,172.00 pence, up 5.2% in London on Tuesday morning
12-month change: up 15%
By Michael Hennessey, Alliance News reporter
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