Allied Irish Banks Intends To Delist ADSs From NYSE

Allied Irish Banks PLC (AIB), said Thursday it has resolved to delist its American Depositary Shares or ADSs, each representing ten ordinary shares, par value EUR0.01 per share, from the New York Stock Exchange

MAIN FACTS:

-AIB will terminate the deposit agreement with The Bank of New York Mellon as depositary governing the ADSs and, in due course, terminate the registration of AIB's securities with the U.S. Securities and Exchange Commission or SEC under the U.S. Securities Exchange Act of 1934, in each case after the completion of the required legal steps.

-The Board of Directors made the decision in light of the increase in the Irish Government's shareholding through the National Pension Reserve Fund Commission to 99.8% on July 27, and the savings in costs and administrative efforts that would result from the delisting and any subsequent deregistration under the Exchange Act.

-AIB plans to file the related Form 25 with the SEC on or about August 15.

-AIB expects the delisting to become effective at the close of business on or about Aug. 25, from which time AIB's ADSs will no longer be traded on the NYSE.

-Concurrently with or following delisting, AIB intends to terminate the ADS facility by terminating the ADS deposit agreement between AIB and the Depositary.

-AIB's aim is to meet the applicable criteria for deregistration of its securities.

-AIB reserves the right, for any reason, to delay these filings or to withdraw them prior to their effectiveness.

-AIB has not arranged for listing and/or registration on another U.S. national securities exchange or for quotation of its securities in a U.S. quotation medium, but expects that, after delisting the ADSs, its ordinary shares will continue to trade on the Enterprise Securities Market of the Irish Stock Exchange.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com

Allied Irish (NYSE:AIB)
Historical Stock Chart
From Apr 2024 to May 2024