The Governor and the Company of the Bank of Ireland (the "Bank")
Update regarding the Migration of the Bank's stock to Euroclear Bank's central securities depository
11 March 2021
Further to its announcement on 19 January 2021, the Bank provides the following update in relation to the migration of Irish corporate securities from CREST to Euroclear Bank (the "Migration") under the Migration of Participating Securities Act 2019 (the "2019 Act").
Stockholders' attention is drawn to the statement published by Euronext Dublin on Monday, 8 March 2021, which can be found at the following link: https://www.euronext.com/en/media/4354.
In its statement, Euronext Dublin has advised that the Live Date on which Migration is to take effect is 15 March 2021 and further that this date will be formally appointed by Euronext Dublin as the Live Date for Migration on the evening of Friday, 12 March 2021.
Following the approval of all resolutions necessary to facilitate participation of the Bank's preference stock in Migration at the extraordinary general court of the Bank held on 19 January 2021 ("EGC"), the court of directors of the Bank confirm that in accordance with Resolutions 1 and 3 as approved by the Stockholders at the EGC the Bank has consented to the migration of its preference stock to the Euroclear Bank SA/NV central securities depository.
Accordingly, the timetable of principal events set out below reflects the Bank's current expectations, and no change is anticipated to the other aspects of the indicative timetable set out in the circular issued to Stockholders and dated 17 December 2020 (the "Circular"):
Timetable for Key Migration Steps(1) (2)
| Latest time and date for Stockholders who hold their Stock in uncertificated (i.e. dematerialised) form and who do not want their Stock to be subject to Migration to withdraw the relevant Stock from the CREST System and hold them in certificated (i.e. paper) form | 12.00 pm on Thursday, 11 March 2021 |
| EUI to stop settlement of trades in Irish Securities pursuant to the Irish CREST Regulations | 6.00 pm on Friday, 12 March 2021 |
| Migration Record Date | 7.00 pm on Friday, 12 March 2021 |
| Live Date(3) | Monday, 15 March 2021 |
Notes:
(1) All references to times are to times in Dublin, Ireland.
(2) If there are any inconsistencies between this announcement and the indicative timetable included in the Circular, this announcement shall prevail.
(3) If, in exceptional circumstances, the Migration does not proceed as planned over the weekend of 13-14 March and the Live Date is therefore postponed the Bank will give notice of that fact by issuing an announcement.
The defined terms set out in Part 9 of the Circular have the same meaning when used in this announcement.
Stockholders should consult their own broker, custodian or other independent professional advisers if they have queries in relation to Migration, and/or how to hold Stock in the Bank following Migration.
For further information, please contact:
| Myles O'Grady | Group Chief Financial Officer | +353 (0) 76 624 3291 |
| Sarah McLaughlin | Group Secretary | +353 (0) 76 624 8577 |
| Darach O'Leary | Head of Group Investor Relations | +353 (0) 76 624 4711 |
| Damien Garvey | Head of Group External Communications and Public Affairs | +353 (0) 76 624 6716 |
END
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