Edition:
United States

Allied Irish Banks files application to get approval for new holding co


Monday, 2 Oct 2017 11:45am EDT 

Oct 2 (Reuters) - Allied Irish Banks Plc :HAS TODAY FILED AN APPLICATION WITH HIGH COURT TO COMMENCE PROCESS FOR SHAREHOLDER AND COURT APPROVAL FOR NEW HOLDING CO.‍NEW COMPANY, AIB GROUP PLC ("AIB HOLDCO"), IS A RECENTLY INCORPORATED COMPANY REGISTERED IN IRELAND​.‍INTENDED THAT THIS NEW CORPORATE STRUCTURE WILL BE IMPLEMENTED BY MEANS OF A SCHEME OF ARRANGEMENT​.‍SCHEME REQUIRES APPROVAL BY SHAREHOLDERS OF AIB BANK AND BY COURT​.‍EXTRAORDINARY GENERAL MEETING OF ALL SHAREHOLDERS IN AIB BANK ARE EXPECTED TO BE CONVENED​. 

Latest Key Developments inBanks