The directors at Bank of Ireland have withdrawn a stock alternative offer priced at €8.10 per unit.
The stock alternative was announced on May 21when the bank also announced a final dividend of 39.4c per unit of ordinary stock.
Now the bank has decided to withdraw the stock alternative due to market conditions which the bank says "make the stock alternative unattractive relative to current market prices".
It is not possible under the bank's bye-laws to reset the price of the stock alternative but in a statement today, the bank said it intended to offer stock alternatives again in the future.
Stockholders who want to increase their holdings have been advised to buy shares through the low-cost dealing service offered by the bank's registrar, Computershare.