COLM KEENA Public Affairs Correspondent

SHAREHOLDERS AT AIB yesterday voted overwhelmingly in favour of working with the National Asset Management Agency (Nama).

Executive chairman Dan O’Connor had earlier told investors that approval of the measure would help reduce uncertainty and assist AIB in raising capital.

Speaking at an extraordinary general meeting (egm), he said it would become clear over the next three months whether AIB needed to get more capital from the State. Asked whether the bank was going to be nationalised, Mr O’Connor said current uncertainty was reflected in the bank’s share price.

“We may have to take equity from the Government. That will become clearer over the next three months.”

Mr O’Connor said he and the board “fully accept that many of AIB’s problems have been self-inflicted”.

“I want to put on record our acknowledgement of, and gratitude for, the support of the Irish Government and taxpayers and the key role they have played in helping us deal with these unprecedented events. I also want to express our deep regret to all our shareholders for the part AIB has played in the events which have led us here today.”

AIB's egm votes for working with Nama - The Irish Times - Thu, Dec 24, 2009