Impact on ordinary shareholders
The following FAQs are based on the Irish Government's document 'Anglo Irish Bank Corporation plc - Nationalisation FAQs' published 03/02/09. This section refers to items 14 and 15.
I am an owner of ordinary shares in Anglo. What has happened to my shares?
With effect from 21 January 2009, your shares have been automatically transferred from your ownership to the Minister of Finance's ownership. Anglo's shares have been de-listed from the Irish Stock Exchange and the London Stock Exchange so they cannot now be bought or sold.
The Minister for Finance has confirmed that shareholder rights will be respected in the nationalisation process.
Will I receive any compensation?
An Assessor will be appointed by the Minister for Finance to assess whether compensation should be paid to those persons whose shares will be transferred to the Minister for Finance and, if so, to determine the fair and reasonable amount payable as such compensation. At this time, it cannot be said whether you will receive any compensation or, if you are entitled to compensation, how much you will receive.
If the Assessor determines that compensation should be payable, a scheme will be established called the 'Anglo Irish Bank Compensation Scheme' to effect any compensation payments.
To view the full pdf 'Anglo Irish Bank Corporation plc - Nationalisation FAQs' on the Department of Finance website, please click here.