Result of Odd-lot Offer

Permanent TSB Group Holdings PLC

14 October 2024

 

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

Scott Rankin Head of Investor Relations Email: [e-mail]

Tríona Carroll Corporate Affairs & Communications Email: [e-mail]

Shareholders

Shareholder support-line Ireland: [phone] (or if dialling from the UK on 020 3059 8256).

Email address: [e-mail] quoting "PTSB Odd-Lot Offer" in the Subject Line.

 

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