Permanent TSB Group Holdings
plc
Results of Odd-lot
Offer
14 October 2024
NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
Permanent TSB Group Holdings plc (the
"Company" or "PTSBGH") announces that following the closure of the
Odd-lot Offer on 4 October 2024, the Company has purchased a total
of 592,943 of its own ordinary shares at €1.74 each.
The Odd-lot Offer was launched on 6
September 2024 in order to reduce the Company's shareholder base,
which because of the Company's demutualisation from being a
building society in 1994 was unusually large for a company of its
size. The Odd-lot Offer facilitated the disposal by eligible
Odd-lot Holders of their shares at a 5% premium, without the
dealing costs that would typically render such disposal uneconomic,
whilst giving interested Shareholders the ability to opt-out of
such a disposal. The Odd-lot Offer is to the benefit of
shareholders as a whole as it will lower the Company's cost base.
Following the implementation of the Odd-lot Offer, the number of
certificated shareholders has been reduced by approximately 90.61
per cent. (116,376 shareholders).
As set out in the announcement made
on 6 September 2024, the purchase price of €1.74 per share
represents a 5 per cent. premium to the volume weighted average
price of the Company's ordinary shares traded on the Euronext
Dublin over the five trading days prior to 6 September
2024.
Eligible Odd-lot Holders who have not
elected to opt-out of the Odd-lot Offer will receive their payment
by cheque. Shareholders with a registered address in Ireland will
be paid in euros by cheque and shareholders with a registered
address in the United Kingdom will be paid in sterling (GBP) by
cheque. It is expected that cheques will be despatched no later
than 21 October 2024.
The shares purchased by the Company
represent approximately 0.11 per cent. of the existing issued share
capital of the Company and will be cancelled. Following this
cancellation, the Company's issued ordinary share capital will be
544,996,176 Ordinary Shares and the total number of voting rights
in the Company will be 544,996,176. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Transparency
(Directive 2004/109/EC) Regulations 2007.
Capitalised terms in this
announcement, unless otherwise defined have the same meaning given
to them in the Annual General Meeting circular issued to
shareholders dated 3 April 2024 (the "Circular").
For
Further Information Please Contact:
Market/Media
Shareholders
Shareholder support-line Ireland:
+353 (0)1 526 0116 (or if dialling from the UK on 020 3059
8256).
Email address: enquiries@linkgroup.ie
quoting "PTSB Odd-Lot Offer" in the Subject Line.
