ANGL Anglo Irish BK.

    RNS Number : 5572K
  Anglo Irish Bank Corp PLC
  22 December 2008
   


    Anglo Irish Bank Corporation plc

    Capital investment of EUR1.5 billion

    Anglo Irish Bank Corporation plc announces today the initial investment of EUR1.5 billion in preference shares from the Government,
through the National Treasury Management Agency, to assist in reinforcing the Bank's core capital position.  

    The Government's investment will be in the form of perpetual preference shares which will rank pari passu to ordinary share capital. A
fixed annual coupon of 10% will be payable on these shares and will be paid in priority to dividends on ordinary shares. The preference
shares will carry 75% of the voting rights of Anglo Irish Bank. These shares may only be redeemed with the approval of the Financial
Regulator. Redemption can take place at par within five years from the date of issue or at 125% of nominal value thereafter.

    An Extraordinary General Meeting will be convened in January 2009 at which shareholder approval will be sought for resolutions, the
passing of which will allow the additional preference share capital to be raised. A Circular outlining in detail the terms of the new
preference shares and the proposed resolutions will be posted to shareholders by Wednesday 24 December 2008.

    The Group's Regulatory Core Tier 1 capital ratio increases from 5.9% at 30 September 2008 to 7.7% with this additional share capital.

    Commenting on the investment, Donal O'Connor, Anglo Irish Bank Chairman said; 

    "We welcome the announcement of an initial investment of EUR1.5 billion in preference shares to assist in reinforcing the Bank's core
capital. The Government's commitment to make further capital available ensures that the Bank will continue to be a sound and viable
institution. We are very grateful to the Government for this clear demonstration of support."

    Ends
    21st December 2008 


    CONTACTS--

    Drury Communications - +353 1 2605000
    Billy Murphy

    Davy Corporate Finance - +353 1 6796363 
    Ivan Murphy
    
JPMorgan Cazenove - +44 20 7588 2828
Conor Hillery, David Marks

This information is provided by RNS
The company news service from the London Stock Exchange
 
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