AIB Group PLC AIB Group plc - Statement on State Divestment (5659S)
November 07 2023 - 1:08AM
UK Regulatory
TIDMAIBG
RNS Number : 5659S
AIB Group PLC
07 November 2023
7 November 2023
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 . 41%.
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, Mr Michael McGrath, which
has led to a further divestment of the State's shareholding in AIB
Group plc to c. 41%.
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.
As we conclude the successful delivery of our three year
strategy, we are now preparing for the next phase of the Group's
development and remain committed to the creation of value for all
our stakeholders and delivery of sustainable returns."
-ENDS-
Contact details:
Niamh Hore / Siobhain Walsh Paddy McDonnell / Louise Kelly
Investor Relations Media Relations
AIB Group AIB Group
Dublin Dublin
Tel: +353-86-3135647 / +353-87-3956864 Tel: +353-87-7390743 / +353-87 216 1545
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 23 to 25
of the Annual Financial Report 2022 and updated on page 33 of the
Half-Yearly Financial Report 2023. 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 23 to 25 of the Annual
Financial Report 2022 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.
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END
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