Tbilisi (GBC) - Georgia Capital PLC (GCAP) has reduced its capital by 350,000 shares under a share buyback and cancellation program.

As a result of the cancellation, the number of ordinary shares with voting rights in the group was determined at 36,537,357 (with an additional 30,000 shares in treasury).

The program was approved by the Board of Directors in early July, increasing the previous USD 50 million share buyback and cancellation program by USD 18 million.

The maximum price paid per share under the program shall not exceed the most recently published net asset value per share (NAV per share).

The increase in the program represents the culmination of GCAP’s previously announced intention to allocate GEL 300 million for capital return by the end of 2026, a significant advance on this target.

The 2025 Annual General Meeting (AGM) has approved a maximum of 5,233,275 shares to be repurchased. The program has been extended for three months, until October 2, 2025.