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Update – Conversion and Redemption 28/08/2020

Donegal Investment Group plc

(“Donegal” or the “Company”)


28 August 2020


Update – Conversion and Redemption


Following approval at the EGM of 26 August 2020 and pursuant to the terms of the Return of Capital as set out in the EGM Circular of 31 July 2020 (the “EGM Circular”) we are updating shareholders on the timing of the Return of Capital as set out in the Expected Timetable of Principal Events included in the EGM Circular.  All capitalised terms and definitions pertaining to the Return of Capital contained in this Announcement shall have the meaning ascribed thereto in the EGM Circular unless stated otherwise.


The Conversion Date shall now be 6:00pm on Monday, 31 August 2020 and the Redemption Date shall be 12:01am on Tuesday, 1 September 2020. 


Under the Conversion and Redemption to implement the Return of Capital, approximately 22.25 per cent of each Shareholder’s total holding of Ordinary Shares as at the conversion date of 6:00pm on Monday, 31 August 2020 shall be converted into Redeemable Ordinary Shares and redeemed at €12.50 per share.  It is expected that Redemption Payments will be despatched to Shareholders by Friday 11 September 2020.


Up to and including the Conversion Date of 6:00pm on Monday, 31 August 2020 Ordinary Shares will continue to be traded under the current ISIN and the new ISIN shall be enabled on Tuesday 1 September 2020.











Donegal Investment Group plc

Padraic Lenehan, Finance Director

Tel: +353749121766 



Investec Europe Limited

Jonathan Simmons, Director

Tel: +35316115945