Allied Irish Banks (AIB)

[mlkrborn]

What a stupid decision: ADR's delisting without an alternative listing!

Dublin 4, Ireland, Aug 04, 2011 (Thomson Reuters ONE via COMTEX) --
For Immediate Release 4th August 2011




Allied Irish Banks, p.l.c. announces its intention to delist from the NYSE

Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] announces that its Board of Directors has resolved to delist its American Depositary Shares (ADSs), each representing ten ordinary shares, par value EUR0.01 per share, from the New York Stock Exchange (NYSE), terminate the deposit agreement with The Bank of New York Mellon as depositary (the Depositary) governing the ADSs (the Deposit Agreement) and, in due course, terminate the registration of AIB's securities with the US Securities and Exchange Commission (the SEC) under the US Securities Exchange Act of 1934 (the Exchange Act), in each case after the completion of the required legal steps.

The Board of Directors made the decision in light of the increase in the Irish Government's shareholding (through the National Pension Reserve Fund Commission) to 99.8% on 27 July 2011, and the savings in costs and administrative efforts that would result from the delisting and any subsequent deregistration under the Exchange Act.

AIB plans to file the related Form 25 with the SEC on or about 15 August 2011. AIB expects the delisting to become effective at the close of business on or about 25 August 2011, from which time AIB's ADSs will no longer be traded on the NYSE. Concurrently with or following delisting, AIB intends to terminate the ADS facility by terminating the ADS deposit agreement between AIB and the Depositary. The Depositary will contact ADS holders in due course with further information, including with regard to any further action to be taken.

In due course, AIB also intends to deregister its securities and terminate its obligations under the Exchange Act by filing a Form 15F. AIB's aim is to meet the applicable criteria for deregistration of its securities.

AIB reserves the right, for any reason, to delay these filings or to withdraw them prior to their effectiveness.

AIB has not arranged for listing and/or registration on another US national securities exchange or for quotation of its securities in a US quotation medium, but expects that, after delisting the ADSs, its ordinary shares will continue to trade on the Enterprise Securities Market of the Irish Stock Exchange. Information required to be made available pursuant to Rule 12g3-2(b) under the Exchange Act will be made available on AIB's website at www.aibgroup.com .

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