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Dan O’Connor Executive Chairman AIB Group - PowerPoint PPT Presentation


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Allied Irish Banks, p.l.c. EGM 23 December 2009. Dan O’Connor Executive Chairman AIB Group. To approve the Company’s participation in the NAMA Programme To permit the Company to convene certain shareholder meetings on 14 days’ notice. Two resolutions for consideration.

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Presentation Transcript
slide1

Allied Irish Banks, p.l.c.

EGM

23 December 2009

Dan O’ConnorExecutive Chairman AIB Group

two resolutions for consideration
To approve the Company’s participation in the NAMA Programme

To permit the Company to convene certain shareholder meetings on 14 days’ notice.

Two resolutions for consideration
nama programme overview
Restore stability to the banking system

Facilitate restructuring of credit institutions of systemic importance

AIB of systemic importance

Guarantee Scheme (Sept 2008)

€3.5bn NPRFC investment (May 2009)

NAMA Programme Overview
benefits of nama participation
Reduce uncertainty relating to AIB

Improve liquidity and funding position

Reduce balance sheet leverage

Enable sale of loans and thereby determine Group’s losses

Restore confidence in AIB

Benefits of NAMA participation
alternatives to nama participation
No viable alternative within required timeframe

Company would require additional term funding and raising of further capital by mid-January

Alternatives to NAMA Participation
capital
Intention to raise additional capital

Asset sales

Strategic investor

Public share issue, which might require Government support

Capital
shareholders rights directive
Implemented in August 2009

Change to notice period for certain General Meetings

Shareholder approval required to maintain 14 day notice period

Shareholders’ Rights Directive
recommendation
NAMA participation and resolutions in the best interest of shareholders

Board recommends that Shareholders vote in favour of the resolutions

Recommendation
slide10

Allied Irish Banks, p.l.c.

EGM

23 December 2009