i think this is highly unlikely.First of all, a significant...

i think this is highly unlikely.

First of all, a significant holding such as IBA would easily be sold off-market.
Secondly, I would actually be very surprised AEP were even forced into this position given their cash position.

While I am trying to find details on their debt levels, I would remind you all that AEP was established as a 'cash-box'. The fact they have a healthy cash position, have elected to pay an interim dividend of 5c per share and have just sompleted end of January a buyback of 5% of their issued securities would suggest debt is of little problem.

The holding by Allco Principals of AEP will be sold in an orderly fashion by the bank I'm sure - if they can't find a buyer offmarket.

NAB would be attempting to extract the best possible price, and given the NTA is safely above the current share price, you would think that this holding will not be of significant risk to NAB at this point.

Who knows, we may even see the holding sold off to a BNB or MQG or that other crowd which have made an offer for AEP.

Other than negative market sentiment (and quite possibly large selling from overseas holders), I think fundamentally this company is in good shape.

Unfortunately, until the general market sentiment begins to turn, It may be end of year before we see the share price back to the $1. That is unless they announce a significant contract or IBA are actually taken over by a competitor.