Allied Irish Banks, p.l.c.
LSE : ALBK
NYSE : AIB

June 23, 2011 13:51 ET

AIB - Capital Update

DUBLIN, IRELAND--(Marketwire - Jun 23, 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.

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Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE

[HUG#1525743]

Contact Information


  • For further information, please contact:
    Alan Kelly
    Director of Corporate Affairs &
    Marketing
    AIB Group
    Dublin
    Tel: +353-1-6412162
    email: Email Contact

    Catherine Burke
    Head of Corporate Relations and
    Communications
    AIB Group
    Dublin
    Tel: +353-1-6413894
    email: Email Contact