2010 Preliminary Results Presentation - Corporate Aer Lingus
2010 Preliminary Results Presentation - Corporate Aer Lingus
2010 Preliminary Results Presentation - Corporate Aer Lingus
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ESOT transaction - a significant development<br />
Prior to the ESOT<br />
transaction…<br />
• 12.5% single illiquid share block held in trust by the ESOT<br />
• Free float restricted<br />
• ESOT profit share: a potentially open ended liability<br />
• Once-off payment of €25.3m extinguished ESOT debt<br />
Summary details<br />
• Obligation to pay future profit share cancelled<br />
• Transfer of c.62.5m shares directly to current & former employees<br />
• Major change to the structure of the share register<br />
Benefits to<br />
shareholders<br />
• Free float increase from c.33% to c.45%<br />
• Increased free float should contribute to better liquidity<br />
<strong>2010</strong> <strong>Preliminary</strong> <strong>Results</strong> | February 2011<br />
Slide 22
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