Allied Irish Banks, p.l.c.

May 13, 2011 12:21 ET

Allied Irish Banks, p.l.c. - Issue of Ordinary Shares to NPRFC

DUBLIN 4, IRELAND--(Marketwire - May 13, 2011) -

For Immediate Release 13th May 2011


As a result of the operation of a "Dividend Stopper" in one of its Capital Instruments, Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] is precluded from paying dividends on certain of its securities. As a result, the annual cash dividend on the National Pensions Reserve Fund Commission's (NPRFC) EUR3.5bn preference shares, amounting to EUR280m, due today 13(th) May, will not be paid. In these circumstances, under its articles of association, AIB becomes obliged to issue and allot ordinary shares to the NPRFC equal in value to the amount of the dividend that would otherwise have been payable.

As a consequence, AIB will be issuing and allotting 1,209,155,030* ordinary shares to the NPRFC by way of bonus issue. This number of shares is equal to the aggregate cash amount of the annual dividend of EUR280m on the NPRFC's holding of preference shares, divided by the average price per share in the 30 trading days prior to today's date (EUR0.23156 per share). 484,902,878 shares have been issued and allotted today. The remainder will be issued and allotted following the annual general meeting at which a resolution will be proposed increasing AIB's authorised share capital. Application will be made in due course for the listing of all of these new shares.

Once this issue of shares is complete, the total number of AIB ordinary shares in issue will be 13,455,007,742. The NPRFC would then hold c. 93.5%, (currently c. 92.8%), of the enlarged issued share capital of the Bank.

* before application of late issuance adjustment that may apply


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Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE


Contact Information

  • For further information please contact:
    Alan Kelly

    General Manager, Corporate Services

    AIB Group


    Tel: ?1-6412162

    email: Email Contact

    Catherine Burke

    Head of Corporate Relations and

    AIB Group

    Tel: ?1-6413894
    email: Email Contact