REG - Intl Con Airline Grp - Share purchase programme

International Consolidated Airlines SAAnnouncement

01/07/2024 11:15

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RNS Number : 5671U  International Cons Airlines Group  01 July 2024

INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. ("IAG" or the "Company")
announces that, in accordance with the authorisation granted by the Annual
General Shareholders' Meeting held on 26 June 2024, it will undertake a share
purchase programme (the "Programme") for the purposes of hedging its
requirement to deliver shares to Globalia as part of the consideration for its
proposed acquisition of the remaining 80 per cent. of the issued share capital
of Air Europa.

As announced on 24 February 2023, the proposed acquisition of Air Europa is
subject to regulatory and other approvals. If the proposed acquisition is not
completed, the shares purchased under the Programme alternatively may be used
to satisfy share awards to executives and employees (including executive
directors) made under the IAG share-based incentive plans.

Goldman Sachs Bank Europe SE ("Goldman Sachs") has been engaged to implement
the Programme. Goldman Sachs (and/or its delegates) will make the share
purchases on the Company's behalf (acting as riskless principal and not as
agent) and make all trading decisions independently of, and uninfluenced by,
the Company.

The Programme will have the following characteristics:

a)    Regulated market: the shares will be purchased on both the London
Stock Exchange and the Spanish Stock Exchanges (each an "Exchange").

b)    Maximum pecuniary amount allocated to the programme: €70,000,000.

c)    Maximum number of shares to be acquired: up to 27,064,575 ordinary
shares, which represent 0.5 per cent. of the Company's share capital as of
today's date (1 July 2024).

d)    Maximum consideration per share: the shares will be purchased at a
maximum price of the higher of the price of the last independent trade and the
highest then current independent purchase bid on the Exchange where the
purchase is carried out.

e)    Maximum volume per trading session: no more than 25 per cent. of the
average daily volume of the shares traded on the Exchange in the 20 trading
days immediately preceding the date of purchase.

f)     Duration: The Programme will start on 1 July 2024 and end no
later than 2 August 2024, unless terminated by the Company or Goldman Sachs
in the event of any circumstance that so advises or requires.

Shares purchased under the Programme will be held in treasury.

 

 

Nicholas Cadbury

Chief Financial and Sustainability Officer

 

 

1 July 2024
             LEI: 959800TZHQRUSH1ESL13

 

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