REG - Irish Dept Finance AIB Group PLC - Resumption of the AIB Group Plc share trading plan

AIBAnnouncement

30/09/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220930:nRSd2442Ba&default-theme=true

RNS Number : 2442B  Irish Department of Finance  30 September 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA,
JAPAN, THE REPUBLIC OF SOUTH AFRICA, SWITZERLAND OR ANY OTHER JURISDICTION
WHERE TO DO SO MIGHT CONSTITUTE A BREACH OF APPLICABLE LAW OR REGULATION.

Press Release

Minister announces the resumption of the AIB share trading plan

The AIB Group plc ("AIB") share trading plan, first announced in December 2021
and subsequently extended in June 2022, was paused on 28 June 2022 following
the Irish State's successful disposal of shares in AIB by way of an
accelerated bookbuild. As is the convention with such a sales process, the
State, as the seller of shares, agreed to a "lock-up" period which meant that
the State was unable to sell further shares in AIB for a period of 90 days.

Following the completion of the lock-up period, Merrill Lynch International
("BofA Securities") has resumed the AIB share trading plan under the same
terms and conditions as were agreed in June 2022. BofA Securities will
continue to target that up to, but no more than, 15% of the expected aggregate
total trading volume in AIB 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. 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.

In announcing the resumption of the share trading plan, the Minister
commented:

"Following the successful disposal of 5% of the issued share capital of AIB by
the State in June, the share trading plan has now resumed following a
"lock-up" period and this will allow us to continue to reduce our shareholding
in the bank gradually over time. I will continue to keep other monetisation
options open, should these opportunities present themselves.

It continues to be this Government's belief that banking in the main is an
activity that should be provided by the private sector and that taxpayer funds
which were used to rescue the banks should be recovered and used for more
productive purposes."

The share trading plan will end no later than 24 January 2023, unless further
extended by the Minister.

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

 

ENDS

30 September 2022

 

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCPPUMABUPPGQB