Tirlán Co-op Announces Sale of Glanbia plc Shares and Bond Buyback

Tirlán Co-operative Society Limited plans to sell up to 17 million ordinary shares in Glanbia plc. These shares represent roughly 7% of the company's share capital. The generated funds will be used to repurchase Tirlán's outstanding €250 million 1.875% bonds due in January 2027. This move is in line with Tirlán's ongoing investment strategy.

The share placement is set to occur through a private placement targeting institutional investors. Glanbia plc intends to participate by placing an order for up to 45% of the offered shares. This sale will be conducted through a fast-paced bookbuilding process with the results to be announced shortly thereafter.

Simultaneously, Tirlán is inviting bondholders to submit offers to sell their bonds for cash. The invitation's settlement is contingent upon the successful completion of the equity placement.