I think that depends on how management responds to the issue. It will certainly be a concern if it transpires that management didn't get on top of the acquired business and failed to identify deficiencies in AML controls. In any event, I don't believe the issue is worth 50% of the market cap and, hopefully, it will be a wake-up call for management and the Board on managing these issues going forward, in a way which will be positive for shareholders. One way or another, we will learn a lot over the coming months.
Ann: Central Bank of Ireland correspondence, page-30
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Mkt cap ! $246.5M | |||
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