Tuesday 21 November 2017

Ryanair concludes €600m share buyback programme

Ryanair boss Michael O'Leary. Photo: PA
Ryanair boss Michael O'Leary. Photo: PA
Ellie Donnelly

Ellie Donnelly

Ryanair has confirmed that it has completed its €600m share buyback programme which it announced in May of this year.

In a statement to the Irish Stock Exchange the company said that on 25 September it purchased for cancellation a total of 445,563 ordinary shares of nominal value €0.006 each in the capital of the company concluding the buyback programme.

The average price paid for the shares yesterday was €16.3386.

Read more: Airline capitalises on slump by buying back €12m of its shares

Following the cancellation of the ordinary shares repurchased the company will have 1,183,788,409 ordinary shares in issue.

Ryanair has seen its share price slump recently on the back of a European Court of Justice ruling in relation to employment rights, as well as its cancelling of thousands of flights because of what it described as a "significant management failure in our rostering department".

This is the company's second share buyback programme in 12 months, with Citigroup and Davy Stockbrokers working as brokers for Ryanair.

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