FBD Holdings has taken part in a share buy-back in today's placing of 4.5 million shares by Farmer Business Developments. Of the 4.5 million shares place, FBD has purchased 3.8 million or 10% of the issued share capital. This is the maximum allowed.
FBD now has a total of 34.4 million shares in issue.
The company said the decision to buyback the shares, which was taken because of the purchase price and the positive impact on earnings per share, has delivered on its commitment to maximise its capital for the benefit of shareholders.
Farmer Business Developments has been the largest shareholder in FBD Holdings since the foundation of the group and FBD's CEO Philip Fitzsimons says it has indicated its intention to continue as a strategic long term investor.
FBD shares closed €1.05 higher at €35.85 in Dublin this evening - a gain of 3%.
