Bank of Ireland Group PLC Capital Reorganisation Approved (3132M)
July 27 2017 - 7:01AM
UK Regulatory
TIDMBIRG
RNS Number : 3132M
Bank of Ireland Group PLC
27 July 2017
Bank of Ireland Group plc ("BOIG plc" or the "Company")
Capital Reorganisation Approved
27 July 2017
BOIG plc is pleased to confirm that it has today received the
approval of the High Court for a reorganisation of the Company's
capital through the reduction of (i) EUR5,394,142,155.20 standing
to the credit of the Company's undenominated capital account and
(ii) EUR105,857,844.80 of the EUR562,139,426 standing to the credit
of the Company's share premium account, and the transfer of total
amount of EUR5,500,000,000 to the distributable reserves account of
the Company. These distributable reserves will be available to form
part of any distributions to shareholders, or for any other
corporate purposes the directors of the Company may consider
appropriate, in the future. The capital reorganisation will not
have any impact on the operating performance of the Bank of Ireland
Group (the "Group") or the Group's capital ratios.
The capital reorganisation will become effective when the High
Court order and minute are registered with the Companies
Registration Office.
Ends
For further information please contact:
Bank of Ireland
Helen Nolan Group Secretary +353 (0)766 23 4710
Alan Hartley Director of Group Investor Relations +353 (0)766 23
4850
Pat Farrell Head of Group Communications +353 (0)766 23 4770
Forward Looking Statement
This announcement contains certain forward-looking statements
with respect to certain of the Group's plans and its current goals
and expectations relating to its future financial condition and
performance, the markets in which it operates, and its future
capital requirements. These forward-looking statements often can be
identified by the fact that they do not relate only to historical
or current facts. Generally, but not always, words such as 'may,'
'could,' 'should,' 'will,' 'expect,' 'intend,' 'estimate,'
'anticipate,' 'assume,' 'believe, ' 'plan,' 'seek,' 'continue,'
'target,' 'goal', 'would,' or their negative variations or similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not forward looking. Examples of
forward-looking statements include among others, statements
regarding the Group's near term and longer term future capital
requirements and ratios, level of ownership by the Irish
Government, loan to deposit ratios, expected impairment charges,
the level of the Group's assets, the Group's financial position,
future income, business strategy, projected costs, margins, future
payment of dividends, the implementation of changes in respect of
certain of the Group's pension schemes, estimates of capital
expenditures, discussions with Irish, United Kingdom, European and
other regulators and plans and objectives for future
operations.
Nothing in this announcement should be considered to be a
forecast of future profitability, dividends or financial position
and none of the information in this document is or is intended to
be a profit forecast, profit estimate or dividend forecast. Any
forward-looking statement speaks only as at the date it is made.
The Group does not undertake to release publicly any revision to
these forward-looking statements to reflect events, circumstances
or unanticipated events occurring after the date hereof.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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