Key Post - Predicting the date of Irish Nationwide demutualisation

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Tom_31

Guest
Surely Fingleton will want to have this all tied up before he reaches the age of 70 to make sure he gets a payout. Doesn't he have to retire at that age or am I over simplifying things? Anyway, does anyone know when that will be?
 

Brendan Burgess

Founder
Messages
40,220
19th January 2008.

He has to retire from the board at that stage.

He will probably try to stay on as General Manager.

I think that it is now highly unlikely that the Society will have been demutualised by then as the process has not yet started.

No advisors have been appointed yet, so the process has not begun. There must be some big internal issue holding it up.

The Annual Report will be out in the next few weeks, I reckon that the 10th April is the absolute latest. It will make very interesting reading.

Brendan
 

DirtyH2O

Frequent Poster
Messages
238
Somw staff I know in INBS including branch managers have been leaving this year losing their potential payouts, make of it what you will.
 

Brendan Burgess

Founder
Messages
40,220
The Chairman said at today's AGM that he expects the whole thing to be done and dusted by the end of the year.

Come to think of it, I don't think he specified which year.

My own opinion, is that it will happen early next year.

Brendan
 

sunnygirl

Frequent Poster
Messages
56
Hi Brendan,

Any chance of an update on this? In your opinion what is now the date for demutualisation.

Many Thks
Sunnygirl
 

oysterman

Frequent Poster
Messages
581
Fingers must be feeling the heat again - so clearly it was time for another bit of guff to be briefed off the record to the financial journos on an otherwise quiet news day.
 

sunnygirl

Frequent Poster
Messages
56
Sunny Girl

Please don't post repetitive posts.

your question is being asked all the time. This is a FAQ and not suited to the same question being asked time and time again

Brendan
Administrator.
 

sunnygirl

Frequent Poster
Messages
56
ok....fair point. Last time timescale was reviewed looks like 18th January on page 1. It might be helpful to bring this up to date with whatever limited info is available?
 

gar32

Frequent Poster
Messages
120
Staff getting their share???

Hi I have been with INBS for 11 years now & all and all not very happy with them. Hagging in with them for this pay out. I hear from friends of friends that the staff are very unhappy their. they have not get a rise in over 2 years & are just getting told that they will get a big pay off. I am thinking that they are tring to get rid of staff as too have a bigger pice of the pie when its comes. Does any one have an Idea how much staff would get? I know I would not be happy working there hearing the stories.

Gar32
 

mosii

Registered User
Messages
48
11 months to go to qualify,what r my chances do u think?does any body know whats going on? hassard a guess on this thread brendan?
 

election0

Registered User
Messages
22
No person here really has the slightest idea when demutualisation will occur . It was widely predicted for last year but nothing came of it .
I dont think Brendan or anyone will hazzard a guess because all past predictions have been very wide of the mark .

Nobody knows when it will happen and actually nobody knows for sure what the exact qualifying conditions will be . In short we are all clueless !
 

Rita

Registered User
Messages
10
Is it possible that this could go on and on and on like standard life where the original estimates for windfalls dwindled from £10,000 in 1999 when it was all supposed to happen to less than €1,000 in 2006 when it eventually happened??
 
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smcgiff

Guest
Rita, it would seem as if Fingers et al were going out of their way to do just that!
 

fnannery

Registered User
Messages
21
I am disgusted with the Irish Nationwide management. They have sat on their hands for the past year following the change in legislation and missed out on the oppurtunity to sell the business at the peak of an economic boom. Now the stock markets are in freefall and the fear of a crash in the mortgage market is going to have huge consequenses for the value of I.N. We can all kiss our €10000+ windfalls goodbye. We will be lucky to get €2k or €3k the way its going. The silence from management is deafening. Its time to act! Its literally time to get the "Finger" out.
 
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smcgiff

Guest
I hate to say it fnannery, but now is probably not the time to sell INBS. They should hold out for a better market. If they sold it now it would be at fire sale prices.

With that said, what you said about missing the boat is true.
 
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