Share purchase programme

International Cons Airlines Group

16 June 2023

 

INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. ("IAG" or the "Company") announces that it has agreed to undertake a share purchase programme (the "Programme"), in accordance with the authorisation granted by the Annual General Shareholders' Meeting held on 15 June 2023, for the purposes of satisfying share awards to executives and employees (including executive directors) made under the IAG share-based incentive plans. The Programme will be carried out in accordance with the Market Abuse Regulation (EU) 596/2014 and Commission Delegated Regulation (EU) 2016/1052 and in accordance with Chapter 12 of the UK Listing Rules.

The Programme will have the following characteristics:

a)     Regulated market: the shares will be purchased on the London Stock Exchange (the "Exchange").

b)     Maximum pecuniary amount allocated to the programme: €35,000,000.

c)      Maximum number of shares to be acquired: up to 15,000,000 shares, which represent 0.3 per cent of the Company's share capital as of today's date (16 June 2023).

d)     Maximum consideration per share: the shares will be purchased at a maximum price of the higher of the price of the last independent trade and the highest then current independent purchase bid on the Exchange where the purchase is carried out.

e)     Maximum volume per trading session: no more than 25 per cent of the average daily volume of the shares traded on the Exchange in the 20 trading days preceding the date of purchase.

f)      Duration: The Programme will start on 16 June 2023 and end no later than 31 August 2023, unless terminated by the Company or Deutsche Bank in the event of any circumstance that so advises or requires.

Shares purchased under the Programme will be held in treasury.

Deutsche Bank Aktiengesellschaft ("Deutsche Bank') has been engaged to implement the Programme. Deutsche Bank (or any of its delegates) will make the share purchases on the Company's behalf and make all trading decisions independently of, and uninfluenced by, the Company.

Nicholas Cadbury

Chief Financial Officer

16 June 2023

LEI: 959800TZHQRUSH1ESL13

 

END