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Ireland
Computershare Services (Ireland)
Computershare Services (Ireland) commenced business
in July 1998 with the migration of 65 former clients of
CMG National Share Ltd. and Allied Irish Banks PLC onto
the Computershare SCRIP system, supported by a team
of 15 staff. |
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Since that time there have been significant developments in the business,
including moving to a new state-of-the-art 8,000 square foot registry office in
the southern suburbs of Dublin, and staff numbers increasing to 55.
The Irish economy has been performing exceptionally well with annual
growth of 10% over the past 4 years and similar projected figures
for the next two to three years. The low tax regime and excellent
telecommunications infrastructure has encouraged many of the world’s
leading multinational computer companies to locate their European
headquarters in Ireland.
This growth has seen considerable increases in the numbers of shareholders on our
client registers. Stock market activity was at record levels in 1998 and projections
show that on average, Irish companies are expected to have returns of 25% or
higher in 1999, which is leading to continued interest in equities as interest rates
have fallen dramatically following the introduction of the Euro.
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We have seen significant growth in the company this year with the addition of
17 new clients, the largest of which is Telecom Eireann. The float was the largest in
Ireland’s history and its success was a tremendous achievement by the
Computershare teams in the UK, Dublin and even Australia. We now have
approximately 890,000 shareholders under management. The vast majority of our
clients are Irish registered companies who are likely to have approximately 50% of
their shareholder base in Ireland and the balance mainly in the UK.
Our client base has now risen to 82 and we anticipate further growth in
the year 2000. We continue to maintain strong links with the major
corporate finance houses and accountancy practices in Dublin and
strategic links are being formed with KMPG, BDO and the corporate
finance departments of the major stockbrokers.
Our staff in Dublin are highly committed and looking forward to the
future with great anticipation. We are very lucky to be attracting quality
staff in a difficult environment for employers. In the past 12 months we
have made a major impact into the share registry market in Ireland
ensuring that the Computershare name is widely known and the rise of
our market presence is a commitment to further development.
The outlook for the coming year is very promising, especially
with the possibility of a further state owned company
having an IPO. The introduction of new products such as
Internet Access, Share Save Schemes and On-line Links will
be marketed strongly and developed where appropriate. The
share registry team in Dublin is now recognised as the most
experienced in the Irish market and is qualified in all aspects
of share registration. It is a compliment to their
commitment and ability that we have in place a platform for
further expansion within the Irish market embracing the
best ideals of Computershare on a global basis.
www.cshare.ie |
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