AA PLC Bond Purchase Programme

AA PLC

(the Company)

The Company announces a bond purchase programme of up to £20m

The following release was issued to the Irish Stock Exchange this morning by the Company:

FOR DISTRIBUTION ONLY OUTSIDE THE UNITED STATES TO PERSONS OTHER THAN "U.S. PERSONS" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED). NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. 

The Company announced today that as part of its commitment to proactive debt management, it has authorised a purchase programme (the Purchase Programme) of up to £20m to be managed by Peel Hunt LLP, through which the Company intends to purchase, through open market purchases or private transactions, 5.500% Class B2 Secured Notes due 2043 (the Notes) issued by AA Bond Co Limited (the Issuer).

The Company will decide in its sole discretion whether to purchase any Notes.

The Company intends for the Purchase Programme to be conducted in tranches, the first of which remains open between 10:00 a.m., London time, on 21 February 2019 and 3:00 p.m., London time, on Wednesday, 27th February 2019 (the Purchase Period). However, the Purchase Period is subject to change and may be extended, amended or terminated by the Company in its sole discretion.

Noteholders wishing to offer their Notes for purchase by the Company should contact Peel Hunt LLP. Noteholders that do not have an account with Peel Hunt LLP and wish to sell any Notes may do so through the broker, dealer, commercial bank, trust company, other financial institution or other custodian that it customarily uses, which has an account with Peel Hunt LLP. Such broker, dealer, commercial bank, trust company, other financial institution or other custodian must contact Peel Hunt LLP at any time during the Purchase Period.

The Company is not under any obligation to accept any Notes offered for purchase.

DISCLAIMER This announcement contains important information which should be read carefully before any decision is made. If any noteholder is in any doubt as to the action it should take, it is recommended to seek its own financial advice, including as to any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to sell such Notes. None of the Company, the Issuer or Peel Hunt makes any recommendation as to whether noteholders should sell their Notes.

Enquiries

Peel Hunt

Sales: Patrick King, [email protected] +44 20 3597 8622 

Debt Capital Markets: Stuart Galvin, [email protected] +44 20 7418 8975

Investors

Zeeshan Maqbool +44 20 7395 7303

Media: Finsbury +44 20 7251 3801

Jenny Davey

Philip Walters