Bank of Ireland Grp (BIRG)
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Thursday 27 July, 2017
Bank of Ireland GrpCapital Reorganisation Approved
RNS Number : 3132M
Bank of Ireland Group PLC
27 July 2017
Bank of Ireland Group plc ("BOIG plc" or the "Company")
Capital Reorganisation Approved
27 July 2017
BOIG plc is pleased to confirm that it has today received the approval of the High Court for a reorganisation of the Company's capital through the reduction of (i) €5,394,142,155.20 standing to the credit of the Company's undenominated capital account and (ii) €105,857,844.80 of the €562,139,426 standing to the credit of the Company's share premium account, and the transfer of total amount of €5,500,000,000 to the distributable reserves account of the Company. These distributable reserves will be available to form part of any distributions to shareholders, or for any other corporate purposes the directors of the Company may consider appropriate, in the future. The capital reorganisation will not have any impact on the operating performance of the Bank of Ireland Group (the "Group") or the Group's capital ratios.
The capital reorganisation will become effective when the High Court order and minute are registered with the Companies Registration Office.