26 Jun 2019 07:01
Ryanair Holdings plc
Buyback Programme Update
In May 2019, Ryanair Holdings plc (the "Company") announced that it had entered into arrangements with its brokers, Citigroup Global Markets Limited ("Citigroup") and J&E Davy ("Davy"), to commence a share buy-back programme to repurchase on its behalf, ordinary shares of €0.006 each (the "Shares"), including Shares underlying American Depositary Shares, during the period commencing on 21 May 2019 and, subject to market conditions, ending not later than 20 May 2020.
Ryanair today (Weds 26 June 2019) advises that it is amending the terms of the arrangements to allow for Shares to be repurchased by way of block trades from EU holders of Shares. Any such block repurchases from UK holders of Shares will, in the event of a no-deal or "hard" Brexit, limit the proportionate number of Shares held by or on behalf of non-EU shareholders and should therefore reduce the period that the resolutions announced by the Company on 11 March 2019 would need to remain in place.
The maximum consideration payable by the Company in respect of repurchases of Shares and Shares underlying American Depositary Shares under the updated arrangements remain unchanged at €700 million. The timing, the actual number of Shares repurchased and the split between Shares and Shares underlying American Depositary Receipts repurchased will be dependent on market conditions and legal and regulatory requirements.
ENDS
Enquires:
Contact:
Neil Sorahan
Ryanair Holdings Plc
Tel: + 353 1 945 1212