REG - AIB Group PLC - AIB Group plc - Statement on State Divestment

AIBAnnouncement

27/06/2024 07:15

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RNS Number : 0636U  AIB Group PLC  27 June 2024

 27 June 2024

 

AIB Group plc  - STATement on STATE DIVESTMENT

 

AIB Group plc notes the announcement by the Irish Department of Finance
regarding the sell down of c. 5% of the issued ordinary capital of the Group,
which brings the State's shareholding below 30% to c. 25.5%.

 

Commenting on the share sale, AIB Group Chief Executive Officer Colin Hunt,
said:

 

"We very much welcome the decision and subsequent transaction undertaken by
the Minister for Finance,  which has led to a further divestment of the
State's shareholding in AIB Group plc to c. 25.5%.

 

This well-supported transaction is another important milestone in the
normalisation of the share register and will yield a further c. €593 million
for the Irish taxpayer to whom AIB owes an immense debt of gratitude for its
support during the financial crisis. This brings the total proceeds returned
to the State to over €16 billion.

 

We are in the first year of our new strategic cycle and our transformed Group
is well-positioned, generating sustainable profits, supporting our 3.3 million
customers and delivering attractive shareholder returns."

 

-ENDS-

 

Contact details:

 Niamh Hore / Siobhain Walsh             Paddy McDonnell / Louise Kelly
 Investor Relations                      Media Relations
 AIB Group plc                           AIB Group plc
 Dublin                                  Dublin
 Tel: +353-86-3135647 / +353-87-3956864  Tel: +353-87-7390743 / +353-87 216 1545

 

 

 

Forward Looking Statements

This document contains certain forward looking statements with respect to the
financial condition, results of operations and business of AIB Group and
certain of the plans and objectives of the Group. These forward looking
statements can be identified by the fact that they do not relate only to
historical or current facts. Forward looking statements sometimes use words
such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan',
'goal', 'believe', 'may', 'could', 'will', 'seek', 'continue', 'should',
'assume', or other words of similar meaning. Examples of forward looking
statements include, among others, statements regarding the Group's future
financial position, capital structure, Government shareholding in the Group,
income growth, loan losses, business strategy, projected costs, capital
ratios, estimates of capital expenditures, and plans and objectives for future
operations. Because such statements are inherently subject to risks and
uncertainties, actual results may differ materially from those expressed or
implied by such forward looking information. By their nature, forward looking
statements involve risk and uncertainty because they relate to events and
depend on circumstances that will occur in the future. There are a number of
factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward looking statements. These are
set out in the Principal risks on pages 27 to 30 in the 2023 Annual Financial
Report. In addition to matters relating to the Group's business, future
performance will be impacted by the Group's ability along with governments and
other stakeholders to measure, manage and mitigate the impacts of climate
change effectively, the impact of higher inflation on customer sentiment and
by Irish, UK and wider European and global economic and financial market
considerations. Future performance will further be impacted by the direct and
indirect consequences of the Russia-Ukraine War on European and global
macroeconomic conditions. Any forward looking statements made by or on behalf
of the Group speak only as of the date they are made. The Group cautions that
the list of important factors on pages 27 to 30 of the 2023 Annual Financial
Report is not exhaustive. Investors and others should carefully consider the
foregoing factors and other uncertainties and events when making an investment
decision based on any forward looking statement.

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