AMP: Wirklich armselig! - 500 Beiträge pro Seite

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Aus The West. Die Aktie wird wohl so schnell kein Vertrauen zurück gewinnen. D.h. nur zum Zocken geeignet.

We were misled: AMP investors

By Anthony Hughes



A SURVEY of shareholders at last Thursday`s AMP annual meeting has found that they overwhelmingly believe they have been misled by the company.

Of 240 people interviewed during and after the meeting by marketing and research consultancy Brand Management, 73 per cent agreed they had been profoundly misled, more than half thought the company was untrustworthy and 66 per cent described the company as poor or very poor.

The better news for AMP chief executive Andrew Mohl is that more than 80 per cent thought he was doing a good job in trying to turn the company around and that AMP was a good long-term bet.

When asked who was responsible for AMP`s woes, shareholders fingered, in order, Paul Batchelor and George Trumbull, while AMP`s two longest serving directors who came up for re-election, Richard Grellman and Lord Killearn, also came in for a mention along with former chairman Stan Wallis.

According to Brand Management, more than half of the shareholders surveyed still had their shares from the time of AMP`s 1998 demutualisation and listing, and many were also customers.

Nearly 75 per cent said their AMP agent or adviser might be better off away from AMP.

The survey results came as Mr Mohl said on Channel 9`s Business Sunday program that while AMP would not be raising more equity capital beyond its $1.7 billion offer, it could refinance a lot of its debt, including its hybrid equity instruments.

He said each of AMP`s life funds in the UK had sufficient capital and met regulatory capital requirements.

He said as long as AMP got regulatory approvals the demerger would go ahead, despite reports on Friday that a possible bid for the UK life assets could emerge to alter the demerger plan.

Some sources said the chances of a Kohlberg Kravis & Roberts-led consortium putting together a successful deal was less than 50-50, but there is certainly an air of takeover talk creeping into the struggling UK life industry.

Last week, there was also speculation that Legal & General might be subject to a bid, but as AMP told shareholders on Thursday, many of its rivals were in a similar financial position to AMP and therefore not in a position to fund a big takeover.

AMP will get another read on the views of small shareholders from Wednesday when the share purchase plan underwritten by UBS Warburg to $500 million opens.

"We`ve got close to one million shareholders," Mr Mohl said. "If we get about 10 per cent then we will fill the $500 million.

"The retail shareholders have been very loyal throughout, they`ve continued to buy shares and I think a lot of them feel that AMP is good value and they want to back the company."



TS

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AMP Sells NZ Rural Loan Book to Rabobank
By InvestorWeb, 22 May 2003



Financial services group AMP Limited (AMP) has announced the sale of its A$222 million New Zealand rural loan portfolio to Dutch-owned Rabobank.

The sale is expected to complete by 1 July 2003, subject to regulatory approval and contractual obligations. The final sale price will be dependent on a number of factors, including account balances at the date of completion, and is expected to be in line with book value.

Discussions continue in relation to the proposed divestment of construction and other property finance loans retained by AMP Bank and AMP Finance.

AMP shares are trading at $5.06, up 1 cent.