High Court approval of capital reduction

RNS Number : 9446T

Permanent TSB Group Holdings PLC

23 July 2015

 



Permanent TSB Group Holdings p.l.c.

For Immediate Release                                                                                                             23 July 2015

Headline: permanent tsb Group Holdings p.l.c. ("Company") announces High Court approval of capital reduction

Further to resolutions passed by shareholders at the Company's Annual General Meeting on 8 April 2015, the Company announces that the Irish High Court has approved the Company's application to confirm a special resolution to cancel an amount of €1,490,000,000 standing to the credit of the Company's share premium account and treat the reserve resulting therefrom as profits available for distribution under section 117 of the Companies Act 2014. There is no current intention to utilise distributable reserves and the taking of any action which utilises distributable reserves at a future date, as and when conditions permit, will be subject to all relevant approvals (including any applicable regulatory approval).

The reduction of the share capital has no impact on ordinary shareholders, the operating performance of the bank or the Group's capital ratios.

-ENDS-

Further information:

Investor Relations

Rajesh Manirajan

Head of Investor Relations

Landline: [phone]

Email: [e-mail]

Media

Ray Gordon

Gordon MRM

Landline: [phone]

Mobile: [phone]

Email: [e-mail]

 

END

 

 

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