Bank will apply to High Court to simplify capital structure
Each AIB share of one cent will be sub-divided into one new ordinary share of a quarter of one cent nominal value and one deferred share of three quarters of one cent nominal value.
These deferred shares will have no value and AIB will apply to the High Court to acquire these shares for nil consideration. The bank will then cancel these deferred shares and transfer an amount equal to the aggregate nominal amount of the deferred shares to the bank’s capital redemption reserve.
