NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, SWITZERLAND OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
Exercise of Over Allotment Option
The Department of Finance announces the exercise of the over-allotment option in relation to Allied Irish Banks, plc (“AIB”). Given the positive aftermarket performance of AIB's share price since the IPO listing date, there have been no stabilising transactions by the Stabilisation Manager, Deutsche Bank. As a result Deutsche Bank will announce that the Stabilisation period ended on the 5th July 2017 allowing the remaining €448m proceeds from the AIB IPO to be remitted to the Exchequer bringing the total proceeds received from the IPO to approximately €3.4 billion.
Note to editors:
The over-allotment shares were allocated to investors at the IPO price of €4.40 on the day of the IPO along with the base offer shares (25% of AIB's issued share capital). The c. €448m of cash raised from the sale of the over-allotment shares has been held by the stabilisation agent as part of the stabilisation agreement with the Department of Finance. As no shares have been bought back in the market using this cash reserve and the agreement has now been terminated, this cash will be transferred to the Exchequer.
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.
This announcement is not for publication or distribution, in whole or in part, directly or indirectly, in or into Australia, Canada, Japan, South Africa, the United States of America (including its territories and possessions, any State of the United States of America and the District of Columbia) (the "United States"), Switzerland or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, the securities referred to herein to any person in any jurisdiction, including Australia, Canada, Japan, South Africa, the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
The securities of the Issuer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state, district or other jurisdiction of the United States, and may not be offered or sold, resold, pledged, delivered, distributed or transferred directly or indirectly within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offer of securities in the United States. The securities referred to herein have not been registered under the applicable securities laws of Australia, Canada, Japan or South Africa and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Japan, South Africa or Switzerland or to any national, resident or citizen of Australia, Canada, Japan, South Africa or Switzerland. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions.
In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the offer are only addressed to and directed at persons in that Member State who are "qualified investors" within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be made) and must not be acted on or relied on by other persons in that Member State