The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
mkt cap of 11million. i think your missing the point,that is the point,artificaly makeing a bank insolvent by saying they need to raise 4bn on hypothetical senarios,not real ones that are happening now.at the moment excisting CT1 1.66bn,sale of irish life 1.1bn contingency fund 400m,dividend 243m,LME 1bn, mkt cap 11mn dont you think a crime is about to happen ? you vote for noonan and bod everyones got there opinion.
piotr as now got over 10% of shareholder votes and is going to call an EGM,please get involved dont let the state steal your investment,remember what it says below PTSB could have excess capital of 1.5bn by 2013 thats an amazing 5 euros/share.
irish taxpayers have bourne the brunt of the countrys banking colapse E70 bn hit so have shareholders.they have been wiped out at anglo irish,and dilluted to the point of emaciation at allied irish and bank of ireland.now the death cart has been summoned for shareholders at irish life and permanent wich is facing a mandatory 4bn recapitalisation of its banking division.some ILP investors have started a fightback.thats good. the stress tests in march had ultra pessimistic assumptions about mortgage defaults and loan losses.the authorities wanted to draw a line under the banking crisis.the long term outcome,unless armagedon arives,is the bank will be overcapitalised.ILPs permanent TSB bank reported a robust core tier one capital ratio of 10.6% at the end of 2010.the group rekons the forced recapitalisation will lift the ratio to 33% by 2013,leaving ptsb with excesss capital of 1.5bn the recapitalisation will be funded by selling ILPs life insurance division-which could be worth 2bn-and by the state.and theres the rub.the goverment is demanding almost full ownership of ILP in return.angry investors say its tantamount to expropration.the life business belongs to shareholders,and the states ILP stake should be no more than 56%,to reflect its maximum contributioin to the recapitalisation.one shareholder scotchstone capital,insists PTSB does not need such a big recapitalisation,the dissedents are pressing for a better soulution,such as giving a call option on the states stake. the investors have a case.ILP recapitalisation looks arbitrary and should be re-examined.irelands bankink colapse was an exercise in wanton value distruction,fixing it must not do likewise.
http://boards.fool.co.uk/irish-life-permanent-lseipm-12269577.aspx
overall,at this point we have support of shareholders representing more than 9% of the votting share capital-c.25 million shares.if we got another 1% or so support,we would be likely able to call an EGM and try to vote the board down and prupose other motions to our liking.and if we get another 10% support c.25 to 50 million shares,we would be very likely able to freely call the shots and overpower all of the boards current proxies c. 50 million shares. http://www.ilpshareholders.com/your_feedback.php what youve got to remember from the horses mouth allan crook at the agm,ptsb is far from insolvent.dont be mugged by these directors that are lying in bed with the irish state,give piotr your voting rights.
get involved in the shareholder movement, unless you just want to lie down and have your investment wiped out, nominate scotchstone capital to represnt you at the agm.if your not going time is running out.
theres 1,2 billion of subordinated debt on ipm books,2.6 for aib and 2.7 for boi,noonans after an 80% discount on these LMEs but its a bit up in the air at the moment because some bond holders are fighting it.the sale of its life buisiness should bring 1.1 billion plus the 643 million contingency funds thats on the life side to be transferd over,maybe the sale of its 30% stake in allianz ? there is still value there and if the fire sale of its uk loan book/irish corparate dont happen with a loss of 2.2b this could end up a very overcapitalised bank,with all those billions sloshing about and a mkt cap of 30 million, just maybe hey.
yer sorry for posting,got a bit excited myself.sadly theres always someone to stick the boot in.when investors are at a big loss,good luck with your investmants and hope most can pull back most of there losses in these awful irish banks so cauled investments atb.
mark3tmaker last post from advfn the article states irish life and permanent shareholders to be left with 8% equity at 130 million wich equates to 047/share looks good for those who held on well done not holding myself. dont shoot the mesenger theres some sick fu ckers on these bb gla
i dont know if you can read these posts. http://www.advfn.com/cmn/fbb/thread.php3?id=23908466
someone posting on advfn not sure if hes bulls hiting hasnt got any links, but saying ipm shareholders to keep 8% of company equaiting to 130 million 0.47/share dont know mate but hes causing a bit of a stir.at moment take with pinch of salt.
rekons on advfn there will 130 million to shareholders that hung on 0.47 cents/share.according to article what he cant post.
seen the post but cant find any substance behind it ie links or news.
get it sold anythings better than getting wipped out. http://www.bloomberg.com/news/2011-03-30/irish-life-said-to-weigh-sale-of-life-asset-management-units.html
http://www.advfn.com/p.php?pid=nmona&article=47074441&symbol=L%5EIPM
imo i think there going to make them wright down there so called npls,according to recent results what stood at about 8.9% of the loan book,so i would imagine between 1 and 1.5 billion cash injection,they have stated they can reach ct1 of 12% by themselves,theres still 400 million on the life side which is overcapitaliseds,plus an lme one of these debt swaps that aib and boi have done what apparantly can raise between 200/400 mill,then if ipm said they could raise the rest through a ri on condition they split the giant bankassure/ilim with the ptsb tombstone the share price would soar, the company would be split youd have a fully capitalised bank with no toxic loans on its books,fully stressed for any economic senario with no state owenership,and a very profitable life and investmant business.if the worst come to the worst they could always sell the profitable side i think its value would be between 1.5/2 billion going of ten times earnings.this is just an oppinon and im probaly bonkers but i believe the value is in the equity.ps if bkir as got to raise 5 billion its of to the naughty boy exchange with aib.
come on lets have a bit of relief,i refuse to believe this share is worthless,next thursday d day stress test results GLA. http://britishbulls.com/StockPage.asp?CompanyTicker=IPM&MarketTicker=Financials&TYP=S
should help keep defaults down. http://www.independent.ie/business/personal-finance/property-mortgages/firsttime-buyer-relief-on-mortgage-ends-in-june-2584247.html