REG - Irish Dept Finance AIB Group PLC - Extension of the AIB Group Plc Share Trading Plan

Rothschild & Co SCAAnnouncement

06/01/2023 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230106:nRSF8609La&default-theme=true

RNS Number : 8609L  Irish Department of Finance  06 January 2023

Press Release

Minister extends AIB share trading plan

The Minister for Finance, Michael McGrath TD, today announces the further
extension of the AIB Group Plc ("AIB" or the "Company") share trading plan
into a third phase. The trading 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 phase two of the AIB trading plan amount to c.
€121.5 million and the average price per share achieved was €2.85. The
trading plan has contributed to the State's directed shareholding in the
Company reducing from 71.12% at the beginning of 2022 to c. 57% currently.

Phase two of the trading plan was paused on 7 November 2022 for a period of 64
days following the latest AIB accelerated share sale by the State, and was
otherwise due to end no later than 24 January 2023. The extension announced
today will become operational in the coming days and will now end no later
than 23 July 2023, unless further extended by the Minister.

In total, c. €286.4 million has been raised from the AIB trading plan since
it became operational in January 2022.

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

"Given the success of the AIB trading plan since it became operational a year
ago, I can see the merit in renewing the trading plan into a third phase. The
plan has played an important role in reducing the State's shareholding in AIB
to c.57% currently, and I hope that it will continue to play a role in the
future alongside other monetisation options, should they 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 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 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.

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  MSCMZGGMNKNGFZM