| 15:22 10/09/2011 | ESM Share Certificate received.... |
| Now that the cancellation of the listing of the shares on the Dublin and London Stock Exchanges is complete my UK Broker has sent me the a share certificate as they are unable to cover trading on the Irish Enterprise Securities Market (ESM). I see that Registrars are now Capita Registras (Ireland) for my ESM holding of around 10K shares. Out of interest what is the process for selling ESM shares now I have the new share certificate ? I note that one year ago these were over 1.5 euros a share - today less than 3 cents...... I guess the certificate goes into the bottom draw hoping that they may be worth something for the grandchildren in years to come. SJ By San Jaime |
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| 18:18 31/08/2011 | Northern Rock offloads Irish arm |
| The sale of its solitary Irish branch will see Northern Rock offload €650m (£576m) of deposits to the business's buyer. Irish Life & Permanent's banking arm, Permanent tsb, has entered into an agreement to buy Northern Rock Ireland (NRI), the Dublin-based branch of the nationalised lender from which it operated its Irish online and postal savings business. NRI represents less than 5pc of Northern Rock's total retail deposits and the sale of the business follows a review by the lender of its business, focused on improving the lender's funding margins. The sale to Permanent tsb is expected to be completed by the end of the year and will require the approval of the Irish finance ministry. "The company considers the sale of the branch in Ireland (Berlin: IIK.BE - news) to be a necessary step as we continue to refine our funding strategy and focus on our commercial objectives," said Ron Sandler, executive chairman of Northern Rock. Northern Rock itself is currently in the midst of a sales process that the Government hopes will lead to its privatisation. Several options are being looked at, though a sale to a single buyer is thought the most likely option. Virgin Money is among those to have submitted bids for the lender. Advisors to Northern Rock hope to identify a buyer before the end of the year. http://uk.finance.yahoo.com/news/Northern-Rock-offloads-Irish-tele-432070016.html?x=0 By fluffy5heep |
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| 0:07 03/08/2011 | Rip Off - Court Action Confirmed |
| Check this out. http://www.businessworld.ie/livenews.htm?a=2821528 GLA By DanDaDan |
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| 11:21 02/08/2011 | Rip Off - Court Action Stage 1 |
| Looks like it is time for that shareholder appeal to start. IMO the instigators of this Rip Off will 'Rue the Day'. The majority of Irish shareholders have long memories Minister. 'Trust and honesty is an investment you put in people' GLA. By DanDaDan |
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| 9:05 28/07/2011 | Re: ouch |
| Got this note from my Broker this morning : ----- Irish Life & Permanent Group Holdings – Ord EUR0.32 Renominalisation (Capital Reorganisation) and cancellation of listing The following proposals were made at the recent Irish Life & Permanent Group Holdings EGM, however were not approved by shareholders: 1. To subdivide and consolidate shares with the net result being shareholders will receive 1 Ordinary share of EUR0.031 For every existing Ordinary share held, 2. To cancel the company’s share listing on the London and Dublin stock exchanges as soon as practicable. It is intended that the Ordinary shares will be admitted to trading on the Enterprise Securities Market (ESM) of the Irish Stock Exchange in due course. We have received an update to say that the company has been directed by the High Court of Ireland to amongst other things subdivide and consolidate the company’s Ordinary shares and to apply to cancel its listing on the London Stock Exchange and Irish Stock Exchange as soon as practicable. Should we receive any further information we will accordingly update you by email. ----- Ouch, looks like I will have to take a loss on my Irish investments ! GLA, SJ By San Jaime |
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| 0:48 27/07/2011 | Rip Off -Attacked by the Ministry of Clones. |
| The High Court has made an order forcing Irish Life and Permanent to accept a €2.7bn cash injection from the public purse. €2.7bn will come from the State, with €200m from Irish Life and Permanent's own resources. Finance Minister Michael Noonan has now secured what was described in court as a necessary order to push this through under the Credit Institutions Stabilisation Act. Shareholders at Irish Life and Permanent have five working days to mount a legal challenge to the order. More details at http://breakingnews.ie/ireland/high-court-issues-order-to-force-ilp-to-accept-27bn-from-state-514301.html#ixzz1TEAEfepR The Order provides that all the powers exercisable by the members of IL&PGH and IL&P in a general meeting under the Companies Acts, any enactment, the memorandum and articles of association of IL&PGH or IL&P, any agreement or any rule or other instrument, shall instead be exercisable by the Minister for the purposes of the Order. The Order further directs the Company, notwithstanding the passing of resolutions at the EGM on 20 July 2011, not to proceed with the appointment of additional financial and legal advisers to review and report on alternative capitalisation options and not to proceed with any request to the relevant authorities to extend the 31 July capitalisation deadline for IL&P. As expected - judge, jury and executioner all wrapped up together. Rip Off Ireland - it looks like it is time for some European courts and press to find out the sorry truths on this rip off saga of unlawful expropriation . Time to blow some whistles. GB... GLA. By DanDaDan |
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| 20:38 25/07/2011 | Rip Off - Shareholder Strikes Back. |
| Just picked this up from the ADVFN BB thanks to Shareholder.: Thought it would be of interest here as well….. *** Alleged letter from Piotr to Noonan: -------------------------------------------------------------------- Dear Sirs, As you may know by now, we are a shareholder in Irish Life & Permanent Group Holdings pls (“IL&P” or the “Company”). We are supported by a very large group of IL&P shareholders, mostly individual shareholders, together with whom we now seem to represent more than 17% of the IL&P voting share capital. We have written to you openly three times already and you have completely ignored us thus far. Following an extensive legal correspondence, there is still time to avoid costly litigation that is not in the interest of the Irish taxpayers or the IL&P shareholders. The IL&P shareholders have spoken loud a clear – within 30 days we will find private investors to participate in the IL&P recapitalisation, which will ease the burden for the Irish taxpayers. Do not obstruct this process. From the State’s perspective, it should be absolutely imperative that the authorities do not under false pretences waste taxpayers’ money by unnecessarily pumping in billions of Euros into a bank that does not need it, while illegally expropriating the IL&P shareholders. We have already spoken to one investment bank and they have confirmed that there are private investors interested in participating in recapitalisation of Irish banks, of which IL&P is a leading franchise. According to an independent comprehensive valuation by a leading Irish broker: the IL&P's fair value -- no less than €2.0bn (€7.2 per share) and the "worst case scenario" value -- no less than €1.0bn (€3.6 per share). IL&P has c. 130,000 shareholders, about 100,000 of whom are Irish citizens. It seems completely inconceivable that the Irish authorities would want to unduly and crudely deprive 100,000 of their own citizens of the most basic ownership rights, while wasting taxpayers’ money under false pretences. But it is unfortunately true! The IL&P recapitalisation will have widespread national and social implications in Ireland. Any unfair and illegal treatment of the IL&P shareholders will also adversely impact the future foreign investments in Ireland. Sincerely, .............. *** IMO it is now time for Irish citizen investors of IPM to support Piotr and stop being ripped off. GLA. By DanDaDan |
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| 16:45 22/07/2011 | Rip Off - Weekend Thoughts |
| 6 months ago this Boards accounts stated that there was net asset value and equity of about 5 Euro per share. The Board proposals that were rejected on 20th July, would have you believe that this has vanished with enforced capitalisation and the threat of Government expropriation. They also assume that 2 billion will be gone by 2013, by some crystal ball gazing. Why would you keep a bank running with these losses? IMO it is time for an independent auditor and let us have a new Board that uses Brain power…. Now Minister of Finance – Maybe it is time for shareholders to examine your stated aims for IPM and consider the legality of ‘unlawful expropriation ’. Good Luck Piotr . GLA. By DanDaDan |
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| 19:54 20/07/2011 | Rip Off - Shareholders Revolt |
| Finance Minister Noonan says on RTE radio interview today 'We expected this to happen'. He then acknowledged that he is being instructed by European Central Bank. What has happened to 'Irish Sovereign Power'. Are these politicians just 'puppets' doing as they are told. I reckon Mr Noonan had already made up his mind on the extinction of IPM shareholders. He has choosen a method by changing the rules and now saying 'Yes we have to go to Court and we have to proceed also' then blaming the ECB. As a sovereign power Minister, you can't hide behind the excuse that 'someone else is telling me to do this'...... Shutting down the banking arm of this company has always been an option. Perhaps the shareholders would then not need your money. It is time for the boardroom cronyism and politics to be exposed. GLA. By DanDaDan |
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| 14:00 20/07/2011 | rejected |
| Just read that the re-cap has been rejected by the shareholders, not sure were that leaves us, im qiute tempted to punt a few grand on this one after the stress test results,,,,or is that good money after bad, sitting on a 96% loss at the moment. By derosa633 |
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| 13:58 20/07/2011 | Rip Off - Reaction |
| When your back is against the wall of extinction the only way is to come out fighting. What else did they expect? http://www.rte.ie/news/2011/0720/ilp-business.html Now lets see if the alleged banker and political crooks can justify over capitalisation and shareholder robbery. It is time to close down the Banking arm and watch the polical ripples IMO. GLA. By DanDaDan |
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| 9:40 20/07/2011 | Recovery underway |
| EGM today. Confidence returning. Hopefully a slow rise in the sp up to levels of a few months ago. Huge buying opportunity IMO By acremead |
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| 13:55 16/07/2011 | Rip Off Ireland |
| The Bankers and Politicians are at it again. It looks like they are over capitalising and projecting losses in 2013 with some mystical crystal ball gazing. The Independent says ‘IL&P has emerged as the second best capitalised bank on the continent. Shareholders will be strongly represented at an extraordinary general meeting on Wednesday, where they'll argue against accepting a €4bn state bailout that will leave private investors owning just 0.1pc.’ Check out. http://www.independent.ie/business/irish/ilampp-comes-in-second-place-but-boi-lies-in-bottom-half-of-table-2823195.html How can you trust this lot? It looks like the Courts will be hearing from some disgruntled shareholders next. GLA. By DanDaDan |
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| 13:27 10/07/2011 | Re: ouch |
| Looks like a black ski slope By extramild |
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| 13:58 07/07/2011 | Corporate Action - delisting..... |
| Help! I'm very green to this world and with this corporate action news of delisting from the LSE I would love some advice....!! Do I take the loss or leave it in there and see what they do with the business? There will be no liquidity if the stock is not on the market so how would I get any money out if I don't run now??? Advice VERY welcome. By Guido Le |
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