Key Developments: Allied Irish Banks PLC (AIBYY.PK)
0.99USD
26 Feb 2013
$0.00 (-0.50%)
$1.00
$0.97
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75,659
68,722
$1.32
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Latest Key Developments (Source: Significant Developments)
Allied Irish Banks PLC's AIB Mortgage Bank Raises EUR 500 Million, 3.5-Year Asset Covered Securities (ACS) Bond
Allied Irish Banks PLC announced that AIB Mortgage Bank (AIBMB) has agreed a EUR 500 million 3.5-year secured ACS bond issue under its EUR 20 billion Mortgage Covered Securities Programme. AIBMB is a wholly owned subsidiary of Allied Irish Banks PLC. Full Article
Allied Irish Banks, plc Announces Decision To Cease Operations On The Isle Of Man And Jersey
Allied Irish Banks, plc (AIB) announced that it is winding down operations on the islands of Jersey and the Isle of Man and will cease operations on December 31, 2013. AIB currently has two subsidiaries in these locations, AIB Bank (CI) Limited and AIB International Savings Limited. The decision to wind-down the business by the end of next year is part of an on-going strategic review being undertaken by AIB. It forms part of the overall plan to become a smaller, domestically focused bank. A consultation period with staff will begin immediately. Customers of the subsidiaries will be contacted shortly to discuss future arrangements and will be facilitated with banking services until alternative arrangements are put in place. Full Article
Allied Irish Banks, plc To Sell Its Polish Property Fund Management Subsidiary And Its Interests In The Polonia Property Funds
Allied Irish Banks, plc (AIB) announced that it has signed an agreement to sell its Polish property fund management subsidiary, AIB PPM sp. z o.o., and AIB Holdings Limited, a Guernsey subsidiary, to Peakside Capital. Agreements have also been signed to dispose of AIB's 9.87% interest in Polonia Property Fund LP and 7.5% interest in Polonia Property Fund II Limited, to Peakside Capital and Partners Group, on a 50:50 basis. The sales proceeds for the entire transaction is undisclosed. Goodbody Corporate Finance advised AIB on the transaction and the acquisition is expected to be completed during the third quarter of 2012. Full Article
Allied Irish Banks, plc Starts Talks With Unions To Cut 2,500 Jobs-DJ
Dow Jones reported that Allied Irish Banks, plc has started talks with trade union representatives as part of its voluntary severance program to reduce staff by around 2,500, saving EUR170 million in staff costs a year. It is expected that around half of those departures will be finalized in 2012. Bank is committed to reduce staff costs by EUR170 million and therefore, if it doesn't achieve objectives with this program, it will need to consider other options in due course. Full Article
Swedbank AB Buys Allied Irish Banks PLC's Mortgage Portfolio in Latvia-Reuters
Reuters reported that Swedbank AB has bought Allied Irish Banks PLC's mortgage portfolio in Latvia. The Company did not announce how much it paid for the mortgages of approximately 800 Allied Irish clients. Full Article
Allied Irish Banks, plc Announces CEO Appointment
Allied Irish Banks, plc announced the appointment of David Duffy as its Chief Executive Officer (CEO). Mr Duffy will take up his post in AIB in December 2011. His remuneration package will be in line with Government guidelines. Full Article
Allied Irish Banks, plc Sees Possible Private Equity Investment-Reuters
Reuters reported that according to Allied Irish Banks, plc's Executive Chairman, the Company hopes to sell a minority stake in the group to a private investor, likely a private equity group, in the early part of next year. Full Article
Allied Irish Banks, plc Updates On Delisting From NYSE
Allied Irish Banks, plc announced that following previous announcements on August 4 and August 16, 2011, Allied Irish Banks, p.l.c. announces that its American Depositary Shares (ADSs) have now been deemed to be delisted and have ceased to be traded on the New York Stock Exchange. Following delisting, AIB intends to terminate the ADS facility by terminating the ADS deposit agreement between AIB and the Bank of New York Mellon as depositary (the Depositary). The Depositary will contact ADS holders in due course with further information, including with regard to any further action to be taken. Following delisting and prior to termination of the Deposit Agreement, AIB's ADS will trade over the counter in the United States. In due course, AIB also intends to deregister its securities and terminate its obligations under the US Securities Exchange Act of 1934 (the Exchange Act) by filing a Form 15F. Full Article
Allied Irish Banks, plc Announces Its Intention To Delist From NYSE
Allied Irish Banks, plc announced that its Board of Directors has resolved to delist its American Depositary Shares (ADSs), each representing ten ordinary shares, par value EUR0.01 per share, from the New York Stock Exchange (NYSE), terminate the deposit agreement with The Bank of New York Mellon as depositary (Depositary) governing the ADSs (Deposit Agreement) and, in due course, terminate the registration of AIB's securities with the US Securities and Exchange Commission (the SEC) under the US Securities Exchange Act of 1934 (the Exchange Act), in each case after the completion of the required legal steps. Allied Irish Banks, plc plans to file the related Form 25 with the SEC on or about August 15, 2011. Allied Irish Banks, plc expects the delisting to become effective at the close of business on or about August 25, 2011, from which time Allied Irish Banks, plc's ADSs will no longer be traded on the NYSE. Concurrently with or following delisting, Allied Irish Banks, plc intends to terminate the ADS facility by terminating the ADS deposit agreement between Allied Irish Banks, plc and the Depositary. The Depositary will contact Allied Irish Banks, plc holders in due course with further information, including with regard to any further action to be taken. Full Article
Lloyds Banking Group plc And Allied Irish Banks, plc Plan Robert Dyas Sale-DJ
Dow Jones reported that the U.K. hardware retailer Robert Dyas is to be put up for sale by the state-controlled banks that took control of it two years ago, according to Sky News' Mark Kleinman. Lloyds Banking Group plc and Allied Irish Banks, plc, which own the majority of Robert Dyas's equity, held a beauty parade in recent days for an adviser to oversee a review of potential sale options for the chain. The company, which operates almost 100 shops in the U.K., is likely to command a price-tag of just GBP25 million. Full Article
Allied Irish to increase mortgage rates by up to 0.4 pct
DUBLIN, April 24 - State-owned Allied Irish Banks (AIB) said it will increase variable mortgage rates by up to 0.4 percent from June as it tries to curb losses.
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