BRISTOL AND WEST PERMANENT INTEREST-BEARING SHARES OFFER BY BANK OF IRELAND

Early day motion 1935, tabled 15 June 2011 by Baroness Burt of Solihull (Liberal Democrat). Signed by 4 members.

That this House notes the offer of 20 pencein cash being made to small stakeholders by the Bank of Ireland for their erstwhile Bristol and West permanent interest-bearing share bonds; finds it unusual that the Irish Government's equity stake is being protected whilst smaller bondholders, some of whom paid over 2 each per bond, are expected to sell their bonds at a greater discount; finds it unfair that the smaller holders, who comprise over 97 per cent. of the register, are prevented from participating in the debt for equity offer at 40 pence; further notes that the scheduled meeting venue is too small to allow any reasonable number of bondholders to attend; and calls on the Bank of Ireland to withdraw the offer and reissue an offer which allows retail holders to fully participate and which has a meeting venue which is large enough for them to attend.

Signatures by party: Liberal Democrat 3, Labour 1.