Information  X 
Enter a valid email address

Allied Irish Banks, p.l.c. (ALBK)

  Print      Mail a friend

Thursday 23 June, 2011

Allied Irish Banks, p.l.c.

AIB - Capital Update

 For Immediate Release   23(rd) June 2011

                              AIB - Capital Update

Allied  Irish  Banks,  p.l.c.  ("AIB")[NYSE:AIB]  announces that discussions are
continuing  with  the  Government  in  respect  of  the terms and structure of a
capital   raising   in   order  to  satisfy  AIB's  revised  regulatory  capital
requirements  following on from previously indicated  capital support for AIB as
one  of the two Pillar Banks.  While discussions remain ongoing it is evident to
AIB  that any subscription for shares by the State would likely be at a very low
price,  being a very significant discount  relative to the current share price.
If  this is the  case, it is  likely that the  State's shareholding in AIB would
increase   substantially   beyond  its  current  c.  93% ordinary  shareholding,
resulting  in potentially significant additional  dilution for existing ordinary
shareholders  other than  the State.   It is  expected that discussions with the
Government  will finalise within the next week, at which point AIB expects to be
in  a position to announce the final  terms and structure of any capital raising
transaction  with the State.   AIB expects to  remain as a  listed company which
will allow shareholders continue to trade their shares.

                                    - ENDS -

For further information, please contact:
Alan Kelly                            Catherine Burke

Director of Corporate Affairs &       Head of Corporate Relations and
Marketing                             Communications

AIB Group                             AIB Group

Dublin                                Dublin

Tel: +353-1-6412162                   Tel: +353-1-6413894

email: [email protected]            email: [email protected]


This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE



a d v e r t i s e m e n t