Irish Continental Group plc (LSE:ICGC) commences share repurchases on May 17, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2022. As per the mandate, the company is authorized to repurchase up to 27,149,935 shares, representing 15% of its issued share capital. The minimum price which shall be paid for a share shall be an amount not less than the nominal value of the share.

The maximum price which may be paid for an ordinary share is an amount equal to higher of 5% above the average of the closing price for the ordinary shares taken from the Euronext Dublin Daily Official List and/or the London Stock Exchange Daily Official List for five business days immediately preceding the day on which that share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. Unless previously varied, revoked or renewed, the authority will be valid till the next Annual General Meeting in 2023, or 15 months from the passing of this resolution, whichever is earlier. As of April 6, 2022, the company had 180,999,567 issued and outstanding shares.