Deal a bonanza for loyal investors

THE bid by Royal Bank of Scotland of €6.20 per share for First Active has sparked one of the biggest bonanzas for investors in this country in a long time.

Hundreds of thousands lost their shirts on the eircom flotation but the First Active process has been a gravy train for investors from day one.

When the building society converted to a public company in September 1998 the majority of the members got shares worth €2,574. That is based on 990 shares per member, based on two entitlements plus loyalty shares.