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
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Tel: +353-87-7390743 / +353-87 216
1545
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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.