Ryanair Holdings PLC Transaction in Own Shares (2219X)
February 17 2017 - 9:59AM
UK Regulatory
TIDMRYA
RNS Number : 2219X
Ryanair Holdings PLC
17 February 2017
AMERICAN DEPOSITARY SHARE BUY-BACK PROGRAMME
Following completion of Ryanair's latest share buy-back
programme (EUR550m) announced on 08 November 2016 and as outlined
in the Q3 results on 06 February 2017, Ryanair Holdings plc (the
"Company") announces that it has entered into arrangements with its
brokers, Citigroup Global Markets Limited ("Citigroup") and J&E
Davy ("Davy"), to commence an ADS buy-back programme to repurchase
on its behalf, ordinary shares of EUR0.006 each (the "Shares")
underlying American Depositary Shares ("ADS"), during the period
commencing on 17 February 2017 and ending on such date as the
Company may announce. These arrangements include the provision for
the Company to give irrevocable instructions to Citigroup and Davy
to purchase ADS during the Company's closed periods without
influence from the Company. The purpose of the ADS buy-back
programme is to reduce the share capital of the Company.
Accordingly, all Shares repurchased will be cancelled.
These arrangements are in accordance with the Company's general
authority to repurchase Shares and Shares underlying ADS, Chapter 9
of the Listing Rules of the Irish Stock Exchange, the applicable
laws and regulations of the Irish Stock Exchange and where
relevant, those provisions of Market Abuse Regulation 596/2014/EU
dealing with buy-back programmes and Rule 10b-18 and Rule 10b-5 of
the Securities Exchange Act of 1934. Citigroup and/or Davy may be
undertaking transactions in the Shares (which may include
participation in block purchases) during this period in order to
meet their respective obligations pursuant to this buy-back.
The maximum consideration payable by the Company in respect of
repurchases of Shares underlying ADS under these arrangements is up
to EUR150 million. The timing and the actual number of Shares
repurchased will be dependent on market conditions, legal and
regulatory requirements and the other terms and limitations
contained in the plans.
For further information
please contact: Robin Kiely Piaras Kelly
Ryanair DAC Edelman Ireland
Tel: +353-1-9451271 Tel: +353-1-6789 333
press@ryanair.com ryanair@edelman.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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