Irish Life&P.Gp Share Discussion Threads

[shareho1der] 17/2/2012 17:14

smcl, my long term target is 4 euro in 2015.

cudman. The irish government is NOT in charge of the Irish economy, the troika is. Have a good weekend too.

[cudman] 17/2/2012 16:54

I know Shareho1der, but its not guaranteed so I won't be buying anymore.
In the long run the governement will do whats best for themselves, not shareholders.
Have a good weekend anyway.

[smcl] 17/2/2012 16:44

Shareho1der,

This share is traded on the 'Aim' equivalent on the Irish Stock exchange. Up nearly 40% today to 5 cent ...... its been there before.

There are currently 36 billion shares in issue with market cap around 1.8billion.

It has a limited upside based on the above.........what's your target?....

Thanks

sm

[shareho1der] 17/2/2012 16:40

Cudman, that is exactly what I have been saying all along and the reason I bought at 2 cent. They could have by now sold the Irish Life and wind down this bank if they meant to.
I wouldn't be surprised me at all if someone admits to getting the figures wrong in the stress test.

Ireland is not Greece, therefore IL&P is not EBS.

[cudman] 17/2/2012 09:50

t is understood that the IMF/ECB/EU have been concerned that the merging of AIB and EBS has sucked competition out of the banking market. This has meant there is an eagerness to see Permanent TSB become a properly functioning lender again.

Well thats a good sign anyway.

[sage of suffolk] 15/2/2012 07:49

Last paragraph of above article.....
On the capital front, the overwhelming likelihood is that the state, which already owns 99.8pc of IL&P, will put the outstanding €1.3bn into the bancassurer at the end of June.

Does this explain recent price rise?

S

[shareho1der] 14/2/2012 08:49

Investorpeasant.
Reading between the lines, it looks that the sale of the the group assets had been cancelled and the group will remain intact to provide strong competition for the so called pillar banks. They now realise Ireland needs more than 2 banks going forward.
As I have always said, why else they would invest the time and the money to appoint the CEO if they plan to wind down IL&P.

[investorpesant] 14/2/2012 08:21

WTF is going on here 10 bidders and they dont offload its uk mortgage book.even if it was merged into AIB the loan book would have to be sold.

[squire007] 10/2/2012 00:31

Some people have made 100-200% here in the last few months !!!! bizarre !

[napoleon111] 09/2/2012 15:00

By Joe Brennan and Donal Griffin
Feb. 9 (Bloomberg) -- Irish Prime Minister Enda Kenny said
he won't impose losses on holders of the country's sovereign
debt, as his government sought to take advantage of any European
Central Bank concessions on Greek securities.
"It's very clear that Ireland will not seek any write-
down," Kenny, 60, said in an interview won Bloomberg
Television's "InBusiness with Margaret Brennan" yesterday in
New York. "We'll pay our dues in full and on time."
Ireland wants to refinance about 30 billion euros ($39.8
billion) of so-called promissory notes it used to rescue the
former Anglo Irish Bank Corp., now known as Irish Bank
Resolution Corp., on better terms and over a longer period.
Finance Minister Michael Noonan said yesterday that any
concessions that Greece gets from the ECB could help Ireland's
negotiating position.
The ECB is considering using its bond holdings to bolster
Greece's next rescue program and support efforts to contain the
sovereign debt crisis, three euro-region officials said on Feb.
4. While the ECB has not commented on any plan, its president,
Mario Draghi, will today be grilled on the ECB's role in any new
bailout at a press conference after its monthly interest rate
decision.
"My view is that by coming out of the woods in the Greek
debt swap deal, the ECB may have opened a Pandora's box," said
Thomas Costerg, an economist at Standard Chartered Bank in
London. "The bottom line is that the ECB's help in the Greek PSI
is definitely affecting the ECB's negotiation power with other
countries."
Bailout
Ireland stepped out of bond markets and sought a 67.5
billion-euro international rescue in November 2010, amid concern
that the nation's banking woes would push it into bankruptcy.
Anglo Irish was nationalized in 2009. As the bill for the
bank soared in 2010, the previous government decided to hold off
injecting all the cash into the bank straight away.
Instead, it promised to give the cash over 10 years, by
issuing promissory notes to the lender for the full amount. The
bank then used the notes as collateral to access emergency
funding from the country's central bank.
Under the current plan, the state will have to raise about
3.1 billion euros a year for at least a decade to pay down the
notes.
Having different lending facilities could "ease the burden
somewhat" as the country tries to recover, Kenny said. "And
while it's difficult for our people and challenging for our
country, we know we're headed in the right direction.
Deal
Noonan linked the government's campaign for a better deal
to the Greek process. Under one plan being weighed, the ECB
could sell its Greek bonds to the European Financial Stability
Facility at the price it paid for them rather than accept a loss
along with private creditors, two of the people familiar said.
The EFSF is against that proposal because it may stretch
its capacity, the officials said. Another plan is for euro-area
central banks to give up profits or take losses on Greek bonds
in their investment portfolios.
Several options are under informal consideration and none
have gained traction so far, two of the officials said.
Spokespeople for the ECB and the EFSF declined to comment.
"I see it as strengthening our negotiating position,"
Noonan said in an interview with broadcaster RTE yesterday. "If
the ECB are prepared to make this kind of concession to Greece,
it would encourage me to think that they might be prepared to
make a concession on the promissory note."
Ireland's October 2020 bonds, regarded as the benchmark,
yielded 7.01 percent, down from 9.1 percent at the start of
December. The yield on the equivalent Greek security is 33
percent and 13.5 percent on the Portuguese note.
Kenny said bonds yields need to fall below 7 percent before
re-entering international credit markets. The government is
aiming to sell treasury bills from June, as it seeks to avoid
the need for further aid.
"I'm not contemplating a second bailout at all," Kenny
said.

[squire007] 09/2/2012 13:03

I will wait 3yrs ........ then see !

[bongo bwana] 09/2/2012 10:41

Thanks Nap - I must have been really pi$$ed off that afternoon. It seems that the share price has been improving on the IEX but it has a long LONG way to go before my beneficiaries will see any reward LOL

[uggly buggly] 07/2/2012 11:53

The spread is probably huge on that market. Let's hope Piotr wins his case. The bottom fishers may get a profit but long term holders like myself and investorpeasant got cleaned out.

[cudman] 07/2/2012 10:49

AIB are up 70% on the ESM in the last month.

[shareho1der] 07/2/2012 10:07

Cudman, I will be polite and explain things to you in a civilised manner:

We sell Life Assurance for £917m.... capitalisation completed!
Government money at 6.345 cent is £1.92 bn and 99.4 % stakes.
We need white knights to give the government back roughly £288m and govt stakes will be reduced to less than 85%,meaning back to main exchange. Give them an addtional £672m and the govt stakes fall below 50%. Not impossible imo.

Nice rise this morning as well .....

[cudman] 07/2/2012 09:33

Will the government take their grubby hands off a Life Assurance company worth about a billion, for €288m????
And congrats for being up 150% shareho1der, it wasn't a risk I was willing to take until there is a clearer picture of what is happening.

[shareho1der] 07/2/2012 06:52

squire. By my calculations, it needs someone to give the government £288 million and we are back on the main market (assuming we got rid of irish life).
Imagine the positive sentiments when that happened. aimho

[squire007] 07/2/2012 00:13

SH ......... keeping chucking out that kinda advise, interesting !!!