Member Info for PatMcG

There is something very odd about these recent after the bell trades. The very large after hours buys on Monday were all listed, on Digital Look, as NTs, that is privately negotiated trades between buyer and seller where the price is bargained. Very often these are trades between large institutions who agree a private deal in order to avoid paying commission to a broker. But they can also be anonymous so you don’t know who the buyer or seller is. Likewise on Tuesday the very large after hours sells were also mostly NTs. I can’t help wondering (beware, conspiracy theory approaching) if these are buy/sell trades agreed between private institutions to manipulate the sp. Also, when I received my new shares on Monday, I also received an invitation to ‘donate’ any unwanted shares. There would, they promised, be no commission charged for buying them and the proceeds would go to charity. Stamped addressed envelope enclosed! My sister in Dublin, who also received her new shares on Monday, got the same offer. As we both have substantial holdings, we both just laughed. But it occurs to me that both the odd after hours trades and the invitation to donate ‘unwanted shares’ is an attempt to drive small shareholders out of the market. And the current low sp could be part and parcel of this same strategy. Just a thought.

Torquay - I too received my new share certificate today. But the conversation rate was perfect. One new share for each previous 30 plus an extra share to make up the fraction.

No, I don't think it was a buy at all. I think it was just recording in BIRG what it already owned in BKIR - that is, just administrative record keeping. And I think JohnMcC is right, the other 'big institutional buys' are just recording what are now defunct BKIR shareholdings as new BIRG shareholdings. PatMc

I think you are right, especially since the first of them was 13% by NAMA. And it's highly unlikely that NAMA would be be buying a share it's contemplating selling.

Sorry to hear that, but yes candles will be lit and prayers said that you make a full recovery. You had a tremendous fight last time, but you came out on top. You can do so again. Keep positive and do what the doctors tell you. We will see you in Mulligan’s when Hotdog’s prediction of Euro12 makes good. Meantime BIRG is holding up and will do better when results come out later in the month and possibly with a promise of a dividend. PatMc

Ah, that's better. Many thanks. PatMc

Page not available! How interesting!

Spot –on analysis on all points. Totally agree. I also would love to see Boris booted, not from the Cabinet, but from the House of Commons. My respect for May came when she appointed Boris Foreign Sec. Brilliant move. Kept him tied in by collective responsibility and where she could keep an eye on him long enough for him to make a complete fool of himself, which he has obligingly done. Also kept him off the back benches where he could continue to play to the gallery with his totally mindless bluster which some in this country take for intelligence. She is some strategist! But Boris is in my next door constituency and I do not see them electing anybody but a Tory. Also wonder abt. the impact on NI, and also think they might go for a combined UK and Stormont election on the same day. Am having lunch in Dublin next week with someone from NI who will well clued up. Might get some insights then. Meantime BKIR holds its breath until after consolidation. Interesting times. PatMc

According to the documents issued by BOI, and I quote, “fractional entitlements in BOIG plc Shares will be rounded up to the nearest whole BOIG plc share, such that any Scheme Stockholder with a fractional entitlement shall be allocated and issued with one BOIG plc Share, credited as fully paid, in respect of the fractional entitlement.” So, don’t worry, you will lose nothing and may actually gain a little. To those unfamiliar with the notion of a reverse split or consolidation, if it’s 1 for 30, then divide the number of shares you have by 30 and the result is the number of new shares you will be issued with, plus an extra share for any fraction. This should not result in any loss of value as if BKIR was worth say 0.25 Euros, then the value of each share should rise by 3000% to say 7.50 Euros. The total value of your share holding should remain the same. The advantage is it’s no longer a penny share, is easier to administer in terms of coast, and it gets rid of the penny share day traders who have played havoc with the volatility of the sp of BKIR. This in turn will make it more attractive to large institutions, especially if they intend issuing a dividend in 2018. It may also help sell off their UK loan book which, with the fall of the pound sterling, has hit the Euro value of BKIR very hard. Institutions in the UK Sterling area may be interested in buying it. It's all good. PatMc

At a meeting to be held on 28th April 2017 at the Aviva Stadium (Lansdowne Road to you and me) a shareholder vote will be taken to: 1) Create a new Irish Incorporated holding company, Bank of Ireland Group plc (BOIG plc), which will become a 100% owner of BKIR. 2) Ordinary shareholders (that’s you and me again folks) will receive 1 unit of ordinary stock in BOIG for every 30 units of stock held in BKIR. So in effect, reverse split, I for 30, and an entirely Irish incorporated company from now on out. Good news. No more a penny stock. This should move things along. PatMc

That a private members bill passes in the commons requiring the government to hold a second referendum if the Brexit package is rejected by parliament. This would encourage MPs to reject it and hopefully in a second referendum, faced with the facts and not the fantasies promised by the Brexiters, the lemmings would refrain from jumping over the cliff. PatMc

Bloomberg analysts predict that pound sterling is heading for £1.20 to the dollar and may go even lower. As Martin 1 said, BKIR expansion into UK market and the Post Office as a UK wide network of outlets looked to us, well to me at any rate, as a real winner because none of us foresaw Brexit. Crash of the £ will bring BKIR down. Over 40% of BKIR mortgages are in UK. Only hope is for BKIR to try and sell off its UK loan book and reinvest elsewhere. https://www.bloomberg.com/news/articles/2017-02-08/analysts-aren-t-buying-sterling-rebound-as-brexit-deadline-looms PatMc

It is now quite clear how Donald Trump intends to govern. He intends going over the head of Congress and appealing directly to the American public via his Twitter account. Google reported that after he criticized Congress for agreeing to repeal the Ethics Bill in a secret session, 'who is my representative' became the most searched for item in the USA as voters swamped their representatives with complaints. The optimistic belief that he will be held in check by Congress is an illusion. Happy New Year everybody, and an interesting new year it's going to be. PatMcG

Dear X4, Delighted by your news. Have thought about you often and wondered how you were getting on. You are a great and courageous guy and I hope you continue to go from strength to strength - I think it was those candles I lit for you last Easter in Christ Church Cathedral, next to Strongbow, what did it!! Very best, PatMc

Although what you say is true, Dublin has the opportunity to develop the necessary infrastructure and this is an opportunity not to be missed. The old Customs House is huge and currently housing only the Department of the Environment. It is located right next to the Financial Centre and the interior could without much difficulty be converted into modern offices. And Cleary’s huge building is standing empty in O’Connell’s Street and likewise could be converted. Travel problems from the airport could be overcome by running a regular helicopter service from the Financial Centre to the airport and housing addressed by building more modern apartments in the further reaches of the Liffey. Yes, this will take effort and commitment, but what city with aspirations would not take advantage of such an opportunity to develop and expand? Especially since the US Department of Commerce has written to all US companies located in London and recommended relocation to Dublin on the grounds that it’s a English speaking city, has a well developed, if small, financial services sector, strong and friendly American connections, and is politically stable. Go Dublin Go! PatMc

Boy, were you on the money in your early Wed post about pro-Trump support experienced while travelling in the US. Who were the pollsters polling I wonder? By the way, Wilbur Ross slated as Commerce Secretary in Trump Administration.