8th May 2025 15:06
AIB Group PLC - Dublin-based bank - Agrees with Irish Minister for Finance Paschal Donohoe to buy back 191.7 million shares off-market from the government, for total consideration of EUR1.2 billion at 626.07 euro cents each. Shareholders approved the share purchase deed between AIB and the minister at the annual general meeting on Thursday last week, and the contract was signed on Wednesday. As a result the minister will own approximately 3.3% of AIB's issued share capital and will hold 271.2 million warrants to subscribe for shares representing around 12.7%. The warrants' exercise price has due to the buyback reduced to EUR6.752 per share from EUR7.455.
"This agreement with the Minister for Finance follows a EUR500 million directed buyback in September 2024 and a EUR1 billion directed buyback in May 2024," comments Chief Executive Officer Colin Hunt. "Today's development represents another important milestone in the process of repaying the taxpayer for their support, the normalisation of the group's share register and enhancing liquidity in AIB shares.
"After reporting a strong performance in the first quarter, we are building great momentum in our business, supporting our 3.35 million customers, the Irish economy, and delivering significant shareholder returns."
Current stock price: 532.00 pence, up 0.8% on Thursday afternoon in London
12-month change: up 20%
By Emma Curzon, Alliance News reporter
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