21 May 2019 07:00
Ryanair Holdings plc
Share buy-back programme
Ryanair Holdings plc (the "Company") announces that it has entered into irrevocable 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. The purpose of the 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 American Depositary Shares, Chapter 9 of the Listing Rules of Euronext Dublin, the applicable laws and regulations of Euronext Dublin and 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 and Shares underlying American Depositary Shares under these arrangements is €700 million. The timing, the actual number of Shares repurchased, and the split between Shares and Shares underlying American Depositary Shares repurchased, will be dependent on market conditions, legal and regulatory requirements and the other terms and limitations contained in the arrangements.
In light of the commencement of the above programme, the American Depositary Shares buy-back programme, announced on 17 February 2017, has been terminated.
ENDS
21 May 2019
Enquires:
Contact:
Neil Sorahan
Ryanair Holdings Plc
Tel: + 353 1 945 1212