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http://www.rte.ie/news/politics/2021/0921/1248205-mica-redress-doherty/

Please enlighten me as to which specific points I am wrong on? Or better still at least stop posting inaccurate rubbish that you can't back up with fact. Anyone informed on the issue would know that the government have sought legal advice from the Attorney General and are currently preparing to go after the insurance companies and banks to pay their part. This is actually old news if you bothered to do your research - See: https://www.google.com/amp/s/extra.ie/2021/06/17/news/irish-news/legal-banks-mica-scandal/amp Also, here is a chief Engineer on the Scheme clearly stating that the only viable long term solution is for all Mica-affected buildings to be completely demolished and rebuilt: https://www.breakingnews.ie/amp/ireland/full-demolition-of-mica-affected-homes-required-with-costs-of-e2-billion-1144447.html

You know one family property that has been repaired - good for you sir if you think that makes you an expert on the issue. I know and live amongst thousands of families who cannot afford the expensive remedial work (which actually does not repair the building but only delays the inevitable eventual deterioration/collapse ). Nor can the vast majority of the affected homeowners afford the costs to get on the Redress Scheme as it stands. Many will be left with no choice but to stop paying their mortgages if they do not get 100% Redress similar to what the Leinster Pyrite families got. Its a ticking time bomb and the banks will be made pay their part either way.

I would kindly suggest that you educate yourself on the issue before posting again.

Irish_Renegade I would suggest that you do some research on the issue before you post innacurate statements. The approved engineers currently working on the Redress Scheme have told the Government that anything short of complete demolition of all affected Mica Buildings will render them highly likely to deteriorate further and become structurally unsafe. In fact one of the chief engineers has called for demolition and complete rebuild of all Mica buildings as engineers are reluctant (many now refusing outright) to sign off on any other form of remedial work short of full rebuild. In addition, insurance companies are refusing to insure any Mica buildings that have only been partially remediated (Eg. Outer leaf replacement only leaves the home uninsurable). So on that basis it is clear that the banks have a problem if this is not sorted out. They could easily be left with thousands of defaults on uninsurable and unsellable 'assets' - or should it be 'liabilities' - on their bad loan books.
You are right that it is widely expected that Mica affected families will get more financial assistance from the government (up to 100% Redress) but what you fail to recognise is that the banks will be pursued by the government to help make up the difference. It is anticipated the final scheme will cost over €2 Billion and more likely over €3 Billion. You don't need to be an expert mathematician to realise this will cost the banking sector and especially Bank of Ireland which is one of the banks with the biggest presence and share of the customer base in the Mica and Pyrite affected areas.

I wonder how many of the thousands of buildings in Ireland with defective blocks (Mica & Pyrite contaminated) have their mortgages with Bank of Ireland. If the government don't come up with an adequate redress scheme then the bank could potentially be facing thousands of mortgage defaults - leaving the bank with valueless crumbling assets.
Also be interesting to know how many of these defective assets are currently being used in loan books to secure financing from other banks/institutional investors.
It looks to me like a significant risk of another banking crisis could be on the cards if this is not handled correctly. Estimated 25 - 40k buildings impacted by defective deleterious blocks in Ireland. Any opinions on this?

https://www.irishtimes.com/business/financial-services/bank-of-ireland-s-uk-subsidiary-reports-70-fall-in-underlying-profit-1.4511848

Bought back in here a few weeks ago and although I believe it is a good medium to longterm investment I didn't expect it to rise quite so soon the way it has. Still plenty of risks out there but I cannot see another lockdown after this one is lifted and the slow gradual reopening of the economy from the Summer onwards will keep this share price moving in the right direction.
What are peoples opinions on the reasons for this recent rise? A post results boost? More positive sentiment about the near future? Rumour has it BIRG is circling Davy following the recent scandal and may buy the stockbroker back. ESRI also just updated its economic forecast to a more positive outlook.

Hi, not sure about the implications of the block application myself. Was also considering buying shares in kingspan but would be cautious considering the current high share price. It is at an all time high, at the peak of where it was during the boom and I wonder if it's becoming overpriced. I know that Kingspan is a bigger company now than it was during the boom due to recent acquisitions, but I wonder if the sp has the legs to go much further considering the strong consistent run it has been on this past few years.

Hopefully this will move as fast when the first bit of decent news comes. Even EOY results should result in a significant re-rate here. As a long term holder with an average of 20 p, I must admit I would be tempted to sell if this spiked up to even near 15p with a view to buying back in lower again or moving it else where. As a matter of interest how many here would consider selling if they got close to their high averages? I'm just looking at GEL and hope I'm wrong for the guys loading in there on yesterday's spike but I can see it falling back well below 1p again and lots getting locked in for a long time till the next spike. It seems to be the way on most aim shares.

Fair play to you. Good to hear that someone is going to cut straight to the hard questions. Doubt RG will give any straight answers though but we wait in hope! Thanks to all the guys attending the AGM and who share the feedback with the rest of us who can't be there. Can't remember who it was now but we had some fantastic posts following the AGM last year. It's such info sharing that keeps us all in the loop. Respect

I guess Randeep reported me! He still has a lot of questions to answer

Thanks for the replies. That's sickening but I knew this one was a speculative gamble. The writing was on the wall for over a year as they failed to get any significant orders from trials. I definitely need gdl to come good now!

Prob a silly question but is that it for shareholders? All money lost?? I'm a novice investor and have held shares in here for over a year now.. More in hope that it wud turn a corner than realism. I presume that I can't sell my shares once trading is suspended. If liquidated will shareholders be guaranteed the current sp value or just watever is left if any?

Good informative posts. Thanks to all those who contribute here now and again. I still hold these but sort of took my eye off for a while. Still remain optimistic and will continue to hold as the potential upside is huge if we can get a few decent sized orders. Just need an Rns announcing a nice order to get the sp rising.

Could well be. It's been quiet here lately until today with a few chunky trades. An RNS on successful completion of Africa trial and order for over 100 units would do for starters ;)

Totally agree. This company has a great product and is attracting interest from all the right quarters. I also like the fact that the sp is quite stable compared to most others on aim and moves according to news rather than rumour. Should be news on Africa and Philippines trials due any day in coming weeks. And once even one decent sized large order is received, sp will move quite fast. More than happy to sit and wait. Just hope orders come soon and cash won't be a problem. GL

to the month. Good news we weren't expecting and plenty still to come. Think the sp will continue the slow steady rise towards end of the month and into October. Think we might see investors sitting on the fence taking their positions from here in.

Is they didn't get it shipped out to Africa until end of June. Installed, up and running early July and 3 month trial completed early October? I'm sure some kind of figures and order quantities have already been discussed so if trial is a success may only take days to sign an order contract.

I would expect the Africa trial to be nearing completion in a couple of weeks and news b4 end of this month. And yea, October for Philippines result. Africa may be earlier but I would prefer a good rns on it at end of month so less of a gap to Philippines news which could keep a nice upward momentum going. Who knows but glad I'm holding here right now.

next week would be sweet. Looking good here with all the trials near completion and if good orders arrive this could fly. Here's hoping..

Looks like we have resumed a decent uptrend once again. Would be nice to break into double digits soon. Positive news on trial and single digits are history imho.