BWSA.L Regulatory News (BWSA)

1 Oct 2007 12:33

Bank of Ireland(Governor&Co)01 October 2007 B&W Transfer Further to the announcements on 19 February 2007, 6 and 14 June 2007, and 18September 2007, the Governor and Company of the Bank of Ireland is pleased toannounce that the business of Bristol & West plc ("Bristol & West") transferredto the United Kingdom branch of the Governor and Company of the Bank of Ireland("Bank of Ireland") today pursuant a banking business transfer scheme under PartVII of the Financial Services and Markets Act 2000 ("B&W Transfer"). Further to the announcement made on 6 June 2007, Bank of Ireland has replacedBristol & West as issuer in respect of GBP 75,000,000 13 per cent. UnsecuredPerpetual Subordinated Bonds and GBP 75,000,000 103/4 per cent. SubordinatedBonds due 2018 (together, the "Bonds"). Certain consequential changes to theTrust Deeds relating to the Bonds have also been made today pursuant tosupplemental trust deeds. These changes have been made to reflect thesubstitution of Bank of Ireland in place of Bristol & West as the principaldebtor and issuer under the Bonds and the Trust Deeds. The Bonds have accordingly been delisted as Bristol & West debt securities andsimultaneously listed today on the Official List of the United Kingdom ListingAuthority and admitted for trading on the London Stock Exchange as Bank ofIreland debt securities. Further to the announcement on 19 February 2007, the Bank of Ireland is alsopleased to announce the transfer today of the business of Bank of Ireland HomeMortgages Limited to the Bank of Ireland pursuant to a business sale agreement ("BIM Transfer", together with the B&W Transfer, the "Transfers"). Bank of Ireland has replaced Bristol & West and Bank of Ireland Home MortgagesLimited as the principal employer for their respective pension schemes and willtake on all funding responsibilities. There is no intention to make any otherchanges to the pension arrangements as a result of the Transfers. Furtherdetails of the replacement and the agreement reached with the trustees areincluded in a separate communication which has been sent to the members of theschemes directly. 1 October 2007 Contacts:John Clifford, Group Secretary, Tel: 00 353 1 604 3400Dan Loughrey, Head of Group Corporate Communications, Tel: 00 353 1 604 3833 This information is provided by RNS The company news service from the London Stock Exchange