Business Irish

Thursday 19 July 2018

Ryanair purchases over 500,000 shares as part of its buyback scheme

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

Ellie Donnelly

Ryanair has announced the purchase for cancellation a total of 586,500 ordinary shares of nominal value €0.006 each in the capital of the company.

Following the cancellation of the ordinary shares repurchased, the company will have 1.2 billion ordinary shares in issue.

"To the extent that further ordinary shares are repurchased under the programme, these will also be cancelled," the airline said in a statement released to the Irish Stock Exchange.

Read more: Ryanair out to be travel's Amazon - selling for rivals

These share purchases form part of the company's existing €600m share buyback programme, details of which were announced in May this year.

In respect of this programme, which will operate until no later than 31 October 2017, Citigroup and Davy will make trading decisions in relation to Ryanair's ordinary shares repurchased under the buy-back programme independently of Ryanair.

Speaking on BBC Newsnight last month, Mr O’Leary said that the company was buying back 5pc of the stock every year.

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