REG - Irish Dept Finance AIB Group PLC - Minister extends AIB share trading plan

AIBAnnouncement

24/06/2022 07:00

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RNS Number : 0411Q  Irish Department of Finance  24 June 2022

Press Release

Minister extends AIB share trading plan

Further to his announcement on 21 December 2021, The Minister for Finance,
Paschal Donohoe TD, today announces the extension of the AIB Group Plc ("AIB"
or the "Company") share trading plan. The plan has been successful to date in
gradually reducing the State's investment in the Company and improving
liquidity in the shares.

Proceeds generated from the share trading plan since its launch amount to c.
€161 million. The average price per share achieved to date is €2.32 and
the State's directed shareholding in the Company has reduced from 71.12% to c.
68%.

The share trading plan was due to end no later than 10 July 2022. The
extension announced today means that the plan will now end no later than 24
January 2023, unless further extended by the Minister.

In announcing the extension of the trading plan, the Minister commented:

"When I announced the launch of the share trading plan last December, I said
that the State's exit from its investment in AIB would be a multi-year
journey, so it is important, and I believe it is in the taxpayers' best
interest, to extend the share trading plan for a further period. I will
continue to keep other monetisation options open, should these opportunities
present themselves."

In line with the Government's commitment to deliver best value for the
taxpayer, shares will not be sold below a pre-determined floor price, which
the Department of Finance will keep under review.

Merrill Lynch International ("BofA Securities") will continue to act on behalf
of the Minister in executing the share trading plan. BofA Securities will
continue to target that up to, but no more than, 15% of the expected aggregate
total trading volume in the Company is to be sold over the duration of the
share trading plan. The number of shares sold will depend on market
conditions, amongst other factors.

The Department of Finance is being advised by N.M. Rothschild & Sons
Limited ("Rothschild & Co") and William Fry LLP in relation to this
transaction.

 

ENDS

 

 

This press release, is not for publication or distribution, in whole or in
part, directly or indirectly, in, into or from the United States of America
(including its territories or possessions, any state of the United States of
America and the District of Columbia) (the "United States"), Australia,
Canada, Japan, the Republic of South Africa, Switzerland or any other
jurisdiction where to do so would constitute a violation of the relevant laws
or regulations of such jurisdiction. The distribution of this press release
may be restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction.

This press release does not contain or constitute an offer of, or the
solicitation of an offer to buy, the securities referred to herein to any
person in any jurisdiction, including in the United States, Australia, Canada,
Japan, the Republic of South Africa, Switzerland or in any jurisdiction to
whom or in which such offer or solicitati0n is unlawful.

The securities of AIB Group Plc described in this press release have not been
and will not be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), or any applicable state or foreign securities laws and
may not be offered or sold in the United States absent registration or an
exemption from the registration requirements of the Securities Act. There
shall be no public offering of securities in the United States or any other
jurisdiction.

Merrill Lynch International ("MLI"), which is authorised by the Prudential
Regulation Authority (the "PRA") and regulated in the United Kingdom by the
Financial Conduct Authority (the "FCA") and the PRA, is acting exclusively for
the Minister for Finance and no one else in connection with the trading plan
and will not regard any other person(s) as its client in relation to the
trading plan and will not be responsible to anyone other than the Minister for
Finance for providing the protections afforded to clients of Citi nor for
providing advice in relation to the trading plan.

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is
authorised and regulated by the FCA in the United Kingdom, is acting
exclusively for the Minister for Finance and no one else in connection with
the trading plan and will not be responsible to anyone other than the Minister
for Finance for providing the protections afforded to clients of Rothschild
& Co, nor for providing financial advice in connection with the trading
plan. Neither Rothschild & Co nor any of its directors, officers,
employees, affiliates, alliance partners and/or agents owes or accepts any
duty, liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any person(s) who
is/are not a client(s) of Rothschild & Co in connection with the trading
plan.

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