Company Announcements

AIB Group plc - Statement on State Divestment

Source: RNS
RNS Number : 6024F
AIB Group PLC
08 November 2022
 

8 November 2022

 

AIB Group plc  - STATement on STATE DIVESTMENT

 

AIB Group plc notes the announcement by the Irish Department of Finance regarding the sell down of approximately 5% of the issued ordinary capital of the Group, which brings the State's shareholding to c. 57%.

 

Commenting on the share sale, Colin Hunt, AIB Group plc Chief Executive said:

 

"We very much welcome the decision and subsequent transaction undertaken by the Minister for Finance, Mr Paschal Donohoe, which has led to a further divestment of the State's shareholding in AIB Group plc to c. 57%.

 

It is another important development in the process of returning the State's investment in the Group and a normalisation of the share register. AIB owes the Irish taxpayer an immense debt of gratitude for its support during the financial crisis.

 

We remain focused on our strategy to grow and strengthen the Group to ensure we continue generating sustainable returns for all our shareholders."

 

 

-ENDS-

Contact details:

Niamh Hore / Siobhain Walsh

Paddy McDonnell / Graham Union

Investor Relations

Media Relations

AIB Group

AIB Group

Dublin

Dublin

Tel: +353-86-3135647 / +353-87-3956864

Tel: +353-87-7390743 / +353-85-2088343

 

 

 

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 Principal risks on pages 28 to 30 of the Annual Financial Report 2021 and updated on page 37 of the Half-Yearly Financial Report 2022. In addition to matters relating to the Group's business, future performance will be impacted by the direct and indirect impacts of the COVID-19 pandemic, the direct and indirect consequences of the Russia-Ukraine War on European and global macroeconomic conditions, the impact of higher inflation on customer sentiment and by Irish, UK and wider European and global economic and financial market considerations. 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 28 to 30 of the Annual Financial Report 2021 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.

Figures presented may be subject to rounding.

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