The shareholders of Irish Continental Group plc (ISE:IR5A) authorized a share repurchase program at its Annual General Meeting on May 30, 2012. Under the plan, the company will repurchase up to 15% of its issued share capital. The minimum price which may be paid for any share is an amount equal to its nominal value. The maximum price which may be paid for any share is an amount equal to 105% of the higher of, either the average middle market price (if there is one) derived from Irish Stock Exchange Daily Official List, or the average closing quotation price as published in Irish Stock Exchange Daily Official List or the mid-point between the high and low market guide prices as published in the List or (if there is only one such market guide price published) the market guide price so published whether it is the high or the low market guide price on the day of purchase. All shares purchased will be cancelled and will not be available for re-issue. The repurchase program is considered to be in the best interests of shareholders. The plan will expire at the conclusion of the next Annual General Meeting of the company or if earlier, on November 30, 2013, unless previously varied, revoked or renewed.