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Allied Irish Banks Investors - ALBK

Share Name	Share Symbol	Market	Stock Type
Allied Irish Bk	ALBK	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	5.425	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
				5.425

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Posted at 31/7/2014 16:24 by lbo There are more than 521 billion AIB shares in issue, which gives it a market cap of about 51 billion. Crazy stuff. Read Full Thread Reply
Posted at 23/12/2010 15:48 by napoleon111 DUBLIN, Ireland (23 December 2010) ("AIB") [NYSE:AIB] - Allied Irish Banks, p.l.c. ("AIB" or the "Company") has today received notice that the High Court issued a Direction Order (the "Order") under the Credit Institutions (Stabilisation) Act 2010 (the "Act") directing AIB to issue immediately approximately 3.7 billion (net of expenses) of new equity capital ("Capital Increase") to the National Pensions Reserve Fund Commission ("NPRFC"). The new shares to be issued to the NPRFC will comprise ordinary shares and convertible non-voting shares ("CNV shares"), to be issued at a price of 0.3793 per new ordinary share and 0.3396 per new CNV share. This additional equity will ensure that AIB meets the year-end regulatory capital requirements of the Central Bank of Ireland. It is expected that the Capital Increase will be completed shortly. To facilitate completion before year-end, AIB's shareholders will not be entitled to subscribe for the new equity and pre-emption rights will be disapplied. The Order also includes a direction that AIB increases its authorised share capital and adopts amended articles of association in place of the existing articles of association of the Company to give effect to the Capital Increase. The NPRFC Holding Following the Capital Increase Pursuant to the Capital Increase, AIB will issue 675,107,845 new ordinary shares to the NPRFC. Upon closing of the Capital Increase, and in order to facilitate the ongoing disposal of AIB's Polish interests, the NPRFC will hold 49.9% of the ordinary shares of the Company, representing 876,220,621 ordinary shares. Following the Capital Increase, AIB will have a total number of 1,755,953,148 ordinary shares in issue. In addition, AIB will issue to the NPRFC a further 10,489,899,564 CNV shares, which will rank pari passu with the ordinary shares other than in respect of voting, and will be convertible into ordinary shares on a one-for-one basis. The NPRFC intends to increase its holding in AIB's ordinary shares by converting all of the CNV shares following completion of the sale of AIB's Polish interests. This would increase the NPRFC's ownership of the ordinary shares of the Company to 92.8%. Further Capital Measures to be Undertaken by AIB Pursuant to the Capital Increase, AIB will receive net proceeds of approximately 3.7 billion and will be required to generate approximately 6.1 billion of additional equity capital in order to meet its revised PCAR equity capital requirement of 9.765 billion, as announced on 28 November 2010. AIB is considering a number of options to fulfill this requirement prior to 28 February 2011, including the possibility of issuing further new shares to the State and undertaking liability management exercises in relation to its subordinated capital. Preference Shares It is also anticipated that prior to 28 February 2011, subject to receipt of appropriate authorities, the NPRFC will convert up to 3.5 billion of its existing 2009 Preference Shares into ordinary or CNV shares at a price of 0.342 per share. Delisting from the Official List and Main Market of the London Stock Exchange and Move to the Enterprise Securities Market of the Irish Stock Exchange The High Court has directed AIB to apply to cancel its listing of ordinary shares on the Main Securities Market of the Irish Stock Exchange ("ISE") ("Irish Main Market Delisting") and to apply for admission to trading on the Enterprise Securities Market ("ESM") of the ISE. The High Court has also directed AIB to apply to cancel the admission of its ordinary shares to the Official List maintained by the UK Financial Services Authority and to cancel trading on the main market of the London Stock Exchange ("LSE") ("UK Delisting"). The Capital Increase by year-end is, in the opinion of AIB's Board of Directors, critical for the continued activities of the Company and cannot be fully completed while AIB remains listed on the main markets of the ISE and LSE. Given the current financial position of AIB, the Capital Increase is required to ensure that AIB complies with the minimum regulatory capital requirements of the Central Bank of Ireland at 31 December 2010. Failure to complete the transaction prior to year-end would likely prompt further action from the Irish State, including the possibility of full nationalisation. As a result, the Company believes that cancellation of the main market listings is in the best interests of AIB and its stakeholders as a whole. The Company and the State wish to ensure that shareholders retain access to a public trading facility for their shares. Shareholders' ownership of the existing ordinary shares will be unaffected by this move. The Company will advise all shareholders of this move to the ESM in a letter to be sent to shareholders by year-end. In the meantime, information in the form of questions and answers will shortly be made available on the Company's investor relations website. The proposed admission to trading on the ESM will mean that AIB will continue to have market oversight, disclosure and reporting obligations. It will also facilitate AIB's intention to maintain investor relationships and market analyst coverage. The ordinary shares will continue to trade on the ISE up to and including 25 January 2011. It is expected that the Company will be delisted from the Main Securities Market of the ISE following the close on 25 January 2011, being 20 business days from the date of this announcement and that the Company currently expects to be admitted to trading on the ESM on 26 January 2011. Given the timetable for the Capital Increase, the Company will not therefore seek shareholder approval for the UK Delisting in reliance on UK Listing Rule 5.2.7. The Company's ordinary shares will continue to trade on the LSE up to and including 25 January 2011. Following the UK Delisting, the Company's ordinary shares will trade on the ESM. The Sale of AIB's Polish Interests In the Order, the High Court has directed AIB to complete the sale of its Polish interests to Banco Santander S.A. pursuant to the Share Purchase Agreement dated 10 September 2010 when all the regulatory conditions other than the approval of AIB's shareholders have been satisfied, but not before the admission to trading on the ESM and the UK Delisting have occurred. As a result, there will not be a requirement for shareholder approval, an associated circular or an extraordinary general meeting in order to complete that sale. Cancellation of NPRFC Warrants In connection with the Capital Increase, the Company has agreed with the Minister and the NPRFC that the 294,251,819 warrants to subscribe for ordinary shares in AIB, granted to the NPRFC as part of the Government's 2009 3.5 billion recapitalisation, are to be cancelled in consideration of the payment of approximately 52.5 million by AIB to the NPRFC. The AIB Board of Directors AIB's Board of Directors acknowledges the continued support of the Minister for Finance and the Irish State. It notes its new duty under the Act to have regard to the public interest in the performance of their functions and, if that public interest conflicts with the best interests of the Company, that the new statutory requirement provides for the public interest to prevail. Read Full Thread Reply
Posted at 23/12/2010 11:37 by bongo bwana There is a serious danger that London/Uk based investors do not have the FULL picture here. But then, perhaps most of the Irish dont know whats going on in City of London either. Read Full Thread Reply
Posted at 22/12/2010 12:20 by craftyspeculator Anyone holding ALBK is dicing with wipeout....market cap of 400mn yet value of zero. Recipe for a wipeout: Irish Independent Brokers recommend AIB despite imminent wipeout Wednesday December 22 2010 TWO stockbrokers are still recommending that investors buy shares in AIB -- even though the bank's shareholders look set to be wiped out by imminent nationalisation. Data compiled by Bloomberg shows Credit Suisse rates AIB as an "outperform" while Societe General ranks the Irish bank a "buy". The Bloomberg data also lists Dublin-broker Goodbody's, which AIB is in the process of selling, as having an "add" recommendation on the bank. Analysts at Goodbody's last night said that all its Irish bank recommendations had been "pulled" recently in view of the sector's volatility. Shares in AIB closed at about 42c a piece last night, giving the bank a market capitalisation of just over 455m. The Government hopes to put in about 4.5bn of new cash by the end of the year, decimating the bank's existing shareholders. Any remaining shareholder equity will be diluted again in February, when the bank must take in another 5.3bn of capital. Despite this bleak prospect, Bloomberg data shows just three stockbrokers have a sell or equivalent recommendations on the near-nationalised AIB. AlphaValue rates the stock at "sell", JP Morgan has an "underweight" recommendation, RBS has "hold" and Barclays has "underweight/neutral. Of the Irish brokers, Davy has a "neutral" recommendation on AIB, while NCB has a "hold" on the bank. Brokers have been strongly criticised for issuing glowing recommendations on stocks in the run-up to the financial collapse. Read Full Thread Reply
Posted at 23/11/2010 18:18 by crosswire Investors Staying Clear of Irish Banks on Bailout Concerns Posted on: Tue, 23 Nov 2010 11:25:11 EST Symbols: AIB, EWP NEW YORK, NY, Nov 23, 2010 (MARKETWIRE via COMTEX) -- On Sunday Ireland became the second euro zone country to ask for aid and will officially begin talks with the European Union regarding a bailout that could reach $110 billion. The talks are expected to focus on the restructuring of the country's banking system as well as the government's deficit cutting plans. The news was met with skepticism with investors questioning whether an Irish bailout would be enough to restore financial stability in the Euro Zone. Irish Banks plummeted on the news, as did the iShares Spain Index. Investors appear concerned that Spain could become the market's next target after the Irish bailout. The Bedford Report examines the outlook for companies affected by the Irish bailout and provides research reports on Allied Irish Banks plc (NYSE: AIB Shares of Allied Irish Banks fell more than 9% yesterday as investors appear concerned that bank shareholders are of little priority following a bailout. According to reports from The Wall Street Journal, Irish government officials said the banks would need more capital as part of the country's massive bailout package. Government officials say the banking sector will face downsizing that will likely see a series of asset sales intended to reset the industry to its core function of serving the local market. The report warned that this could potentially leave shareholders with a fraction of their investments. The Bedford Report releases regular market updates on International Markets so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters. Shares of iShares MSCI Spain Index slipped close to 4% yesterday amid concerns it could be next in sight for bond traders. Spanish borrowing costs rose sharply as the Irish crisis took hold, with the 10-year yield seen at 4.73% compared to less than 4% in early October. The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at Read Full Thread Reply
Posted at 17/11/2010 11:43 by lbo AIB's bonds fell on speculation investors will be forced to take losses under a bailout from the European Union and International Monetary Fund. The lender's E868 million of 12.5pc subordinated bonds due 2019 were quoted at a bid price of 51 cents on the euro, down from about 54 cents yesterday, according to Jefferies International in London. AIB's Stg 368 million of 12.5pc 2019 notes were quoted at 50 pence on the pound, down from 52, according to Jefferies. Read Full Thread Reply
Posted at 13/11/2010 07:50 by crosswire The Department of Finance issued a statement reiterating that Ireland had made no application for emergency EU funding. "Ireland is fully funded into the middle of 2011." Meanwhile NCB Stockbrokers said in a report yesterday that it was "rational" for investors to buy Irish bonds as prices overstate the likelihood of default. "On the assumption of a 70 per cent recovery rate, the Irish 10-year bond yield and 10-year credit-default swap imply that there is an 85 per cent probability of Ireland defaulting some time in the next 10 years," Brian Devine, chief economist at NCB, wrote. "This overstates the probability of Ireland defaulting, and we, therefore, conclude that it is rational for investors to purchase Irish bonds as opposed to risk-free bonds at the prevailing rates." Read Full Thread Reply
Posted at 30/9/2010 06:14 by crosswire Ireland braces for Anglo Irish Bank rescue bill By Andrew Bushe (AFP) 6 hours ago DUBLIN - Ireland will reveal Thursday the total cost of the state bailout of Anglo Irish Bank, with analysts suggesting that the enormous bill could be more than the country's annual tax revenues. Media reports put the rescue costs at a potentially crippling 30 billion euros (41 billion dollars) in all. That would also equal around one fifth of Ireland's total annual economic output at a time when the eurozone member nation is struggling to cut a huge public deficit sparked by the global financial crisis. "At 30 billion euros, the cost of the bail-out is very similar to the annual Irish tax take," said Jane Foley, senior foreign-exchange strategist at Rabobank. "It follows that there is no quick fix to the appalling state of Irish government finances," Foley said. "To date, the Irish government have been fairly successful at fire-fighting but as more details about the size of the Anglo problem have become known, it has become less easy to see how the government can afford this bailout without some holders of Anglo (debt) paper being subject to some kind of default." Irish Prime Minister Brian Cowen said Wednesday that the bailout costs were being finalised by the country's regulatory authorities. Finance Minister Brian Lenihan pledged to stand behind Anglo Irish and warned that a failure of the institution would "bring down" Ireland. "Any Anglo failure would bring down the sovereign," the finance minister was quoted as saying in the Financial Times on Thursday. "No country could contemplate the failure of such an institution." Foley at Rabobank added: "Given the extent of current market worries, the central bank may be able to regain some confidence by showing that it can tackle this problem head-on." Despite the Anglo Irish overhang, EU Economic Affairs Commissioner Olli Rehn insisted on Wednesday that Ireland would not need emergency funding from the European Union or the International Monetary Fund. The Irish Times, without citing its source, reported earlier that the bailout cost would be "about 28 billion to 29 billion euros ... rising well above 30 billion euros under a worst case or 'stress' scenario." The newspaper said the announcement would be "an estimate in the lower range, rising to the potential higher cost should losses rise on further market declines." "The report in the Irish Times highlighting that the overall cost of winding down Anglo Irish may rise well above 30 billion euros is hampering sentiment," noted City Index analyst Joshua Raymond. In London, the Financial Times said that about 5.0 billion euros would be injected into Anglo Irish, which would take Dublin's total bailout spending on the bank close to 30 billion euros. A spokeswoman for the Irish finance ministry declined to comment on the reports and the extent of the aid. However, she added that the government has committed up to 24.5 billion euros of public money, of which 22.9 billion euros has already been injected. Highlighting the extent of Ireland's weakness, the yields -- the rate of return for investors -- on Irish debt hit record highs on Wednesday on concerns over the parlous state of its public finances. Meanwhile, Irish politicians returning to work after the summer break were greeted by protesting union members angered by huge cuts to state spending. A 41-year-old man was arrested after a cement mixer truck with "Toxic Bank Anglo" written on it crashed into the front gates of the parliament building. Ratings agency Standard & Poor's on Tuesday warned that the total cost of the Anglo Irish rescue could exceed 35 billion euros as Cowen attempted to reassure financial markets by saying the government would present a "manageable" plan to resolve the issue. Ireland is struggling to ride out the financial storm and the Anglo Irish plight has only added to the uncertainty. Ireland was the first eurozone member nation to plunge into recession in 2008, slammed by the global financial crisis, a domestic property market meltdown and soaring unemployment. It returned to growth in the first quarter but then shrank by a huge 1.2 percent in the second quarter, stoking fears that with its public finances under immense strain the country could fall back into recession. The government has strongly rejected speculation that it could have difficulty raising funds and might have to seek help from a huge EU rescue fund set up after the Greek debt crisis earlier this year. Ireland, alongside other weaker eurozone nations Italy, Portugal and Spain, is struggling to maintain investor confidence in its ability to control its huge public debt and deficit. Read Full Thread Reply
Posted at 12/3/2010 14:30 by lbo A 52-acre residential site in Shankill, Co Dublin, owned by developer Joe O'Reilly and a group of investors put together by Davy has been written down to 5 cent in the euro. Investors in the project have been told if the site is sold today they will get nothing back. The Woodbrook residential site has not got full planning permission and is now likely to go into NAMA, the toxic loan agency. An investors' update covering 2009, seen by the Irish Independent, states: "To reflect the significant risk to recovering capital, the investment has been written down to 0.05.'' Davy Investors declined to comment through their representatives yesterday. Read Full Thread Reply
Posted at 05/3/2010 08:31 by crosswire The Irish Times - Friday, March 5, 2010 AIB shares up 20% on back of plan to sell its overseas assets SIMON CARSWELL and UNA McCAFFREY THE STATE'S largest bank, Allied Irish Banks (AIB), climbed 20 per cent on the stock market, its biggest gain since September, after investors reacted favourably to its plan to sell businesses which would generate cash to help absorb mounting losses. The bank has been presenting its capital-raising plan to investors in London over the past two days after saying this week that it could raise up to 4 billion by its own means and avoid a further Government bailout. The bank's shares climbed 20 cent to 1.25 as global institutional investors warmed to the bank's plan which involves selling some of the bank's most valuable assets. The rising share price also lifted Bank of Ireland which increased 9.1 per cent, or 9 cent, to 1.09. AIB will be left with a capital hole of more than 4 billion after selling 23 billion in development loans at a discounted price to the National Asset Management Agency (Nama). The bank said that it could raise capital by selling key businesses, which include its UK banking business, Polish lender Bank Zachodni WBK, and its interest in US bank MT, before having to turn to shareholders for cash. Analysts estimate that AIB could net about 2.5 billion from the sale of its Polish and US businesses. Colm Doherty, managing director of AIB, said this week that it has had discussions with a number of investors who were interested in taking a "strategic" stake in the bank. He said that there were an "inordinate" number of parties interested in AIB's Polish business, which he described as "the jewel in the crown". The bank reported losses of 2.6 billion for 2009 earlier this week the first annual loss in its history. AIB has said that it plans to raise capital through "self-help" options before turning to investors or even the Government for cash. The positive reaction from the international investment community improves the bank's prospects of tapping these investors for cash through the issuing of new shares after the sale of its businesses. "They are getting a positive reaction to the 'self-help' programme, even if it means selling prized assets," said banking analyst Sebastian Orsi at Dublin stockbroking firm Merrion Capital. The share price values AIB at just over 1 billion. Further gains on the market will improve the bank's chances of raising sufficient capital from a "rights issue" cash call of shareholders. Investors were said to be particularly encouraged by the potential sale of AIB's UK business in private presentations given by Mr Doherty over the past two days. The sale of the business, which has a well-established commercial banking operation, could generate 650 million in a capital gain for AIB, according to analysts at French bank Société Générale. AIB's plan to swap debt with bondholders for an estimated gain of up to 350 million will be made within days, sources said. Meanwhile, Anglo Irish Bank director Alan Dukes said the bank may become part of "a third force" banking group to rival AIB and Bank of Ireland formed out of the smaller financial institutions Read Full Thread Reply

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