REG - Permanent TSB Group - Formal Sale Process: Response to media speculation

Permanent TSB groupAnnouncement

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RNS Number : 0473X  Permanent TSB Group Holdings PLC  18 March 2026

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 OR REGULATIONS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE IRISH TAKEOVER PANEL ACT 1997,
TAKEOVER RULES, 2022 (THE "IRISH TAKEOVER RULES") AND IS NOT AN ANNOUNCEMENT
OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE IRISH TAKEOVER
RULES. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO
THE TERMS ON WHICH ANY SUCH OFFER WILL BE MADE.

FOR IMMEDIATE RELEASE

18 March 2026

Permanent TSB Group Holdings PLC

Response to media speculation

Permanent TSB Group Holdings PLC ("PTSB" or the "Company") notes the recent
media speculation and confirms that BAWAG Group AG ("BAWAG") is one of a
number of parties participating in the Formal Sale Process which was announced
by PTSB on 30 October 2025. The Formal Sale Process remains ongoing, and PTSB
continues to engage with all parties participating in the Formal Sale Process.

Shareholders are advised that this announcement does not represent a firm
intention by BAWAG or any other party to make an offer under Rule 2.7 of the
Irish Takeover Rules and there can be no certainty that any offers will be
made, that any sale or other transaction will be concluded, nor as to the
terms on which any offer or other transaction may be made.

The objective of the Formal Sale Process remains the same; to identify a new
owner that will enable PTSB to continue building on its recent strategic and
financial progress, and to support the Company in the next phase of its growth
and strategic development.

PTSB is an important part of the retail banking sector and wider Irish
economy, and its continued sustainable growth is critical to ensuring
competition in the market and providing choice to consumers. There is no
impact to customers as a result of this announcement, and PTSB's operations,
products and services remain unaffected by the Formal Sale Process. PTSB
continues to support and service customers as normal.

A further announcement will be made at the appropriate time.

Irish Takeover Rules Notes

As announced on 30 October 2025, the Irish Takeover Panel has agreed that any
discussions with third parties may be conducted within the context of the
Formal Sale Process.  Accordingly, BAWAG will not be subject to the 42-day
deadline referred to in Rule 2.6(a) of the Irish Takeover Rules for so long as
it is participating in the Formal Sale Process.

PTSB continues to be in an offer period as defined in the Irish Takeover Rules
and the dealing disclosure requirements set out below continue to apply.

Enquiries

 

Permanent TSB Group Holdings PLC
 
investorrelations@ptsb.ie

Scott Rankin
 
scott.rankin@ptsb.ie

Leontia Fannin
 
                                       leontia.fannin@ptsb.ie

 

Goldman Sachs International
 
+44 20 7774 1000

(Financial Adviser to PTSB)

Ronan Breen

Owain Evans

Sara Hanlon

Tom MacDonald

 

Davy
+353 1 6796363

(Corporate Broker and Sponsor to PTSB)

Brian Garrahy

Disclosure requirements of the Irish Takeover Rules

Under Rule 8.3(b) of the Irish Takeover Rules, any person 'interested'
(directly or indirectly) in 1% or more of any class of 'relevant securities'
of PTSB must disclose all 'dealings' in such 'relevant securities' during the
'offer period'. The disclosure of a 'dealing' in 'relevant securities' by a
person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm
(Irish time) on the business day following the date of the transaction. A
dealing disclosure must contain the details specified in Rule 8.6(b) of the
Irish Takeover Rules, including details of the dealing concerned and of the
person's interests and short positions in any 'relevant securities' of PTSB.

All 'dealings' in 'relevant securities' of PTSB by a bidder, or by any party
acting in concert with a bidder, must also be disclosed by no later than 12
noon (Irish time) on the 'business' day following the date of the relevant
transaction. If two or more persons co-operate on the basis of an agreement,
either express or tacit, either oral or written, to acquire for one or more of
them an interest in relevant securities, they will be deemed to be a single
person for these purposes.

Disclosure tables, giving details of the companies in whose 'relevant
securities' and 'dealings' should be disclosed, can be found on the Irish
Takeover Panel's website at www.irishtakeoverpanel.ie
(http://www.irishtakeoverpanel.ie) .

'Interests' in securities arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option
in respect of, or derivative referenced to, securities.

Terms in quotation marks in this section are defined in the Irish Takeover
Rules, which can also be found on the Irish Takeover Panel's website. If you
are in any doubt as to whether or not you are required to disclose a dealing
under Rule 8, please consult the Irish Takeover Panel's website at
www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone
number +353 1 678 9020.

Responsibility Statement

The Directors of PTSB accept responsibility for the information contained in
this announcement. To the best of their knowledge and belief (having taken all
reasonable care to ensure such is the case), the information contained in this
announcement is in accordance with the facts and does not omit anything likely
to affect the import of such information.

Publication on Website

In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this
announcement will be available on the Company's website at
https://www.permanenttsbgroup.ie/investors
(https://www.permanenttsbgroup.ie/investors) by no later than 12.00 (noon)
(Irish time) on the business day following publication of this announcement.
The content of the website referred to in this announcement is not
incorporated into, and does not form part of, this announcement.

Other notices

This announcement is not intended to, and does not, constitute or form part of
(1) an offer or invitation to purchase or otherwise acquire, subscribe for,
tender, exchange, sell or otherwise dispose of any securities, (2) the
solicitation of an offer or invitation to purchase or otherwise acquire,
subscribe for, tender, exchange, sell or otherwise dispose of any securities,
or (3) the solicitation of any vote or approval in any jurisdiction, pursuant
to this announcement or otherwise.

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting for the Company and no
one else in connection with the Formal Sale Process and will not be
responsible to anyone other than the Company for providing the protections
afforded to clients of Goldman Sachs International, or for giving advice in
connection with the Formal Sale Process or any matter referred to herein

The release, publication or distribution of this announcement in, into, or
from, certain jurisdictions other than Ireland may be restricted or affected
by the laws of those jurisdictions. Accordingly, copies of this announcement
are not being, and must not be, mailed or otherwise forwarded, distributed or
sent in, into, or from any such jurisdiction. Therefore, persons who receive
this announcement (including without limitation nominees, trustees and
custodians) and are subject to the laws of any jurisdiction other than Ireland
who are not resident in Ireland will need to inform themselves about, and
observe any applicable restrictions or requirements. Any failure to do so may
constitute a violation of the securities laws of any such jurisdiction.

No statement in this announcement is intended to constitute a profit forecast
for any period, nor should any statements be interpreted to mean that earnings
or earnings per share will necessarily be greater or lesser than those for the
relevant preceding financial periods for the Company. No statement in this
announcement constitutes an asset valuation. No statement in this announcement
constitutes an estimate of the anticipated financial effects of an acquisition
of the Company, whether for the Company or any other person.

J&E Davy, which is authorised and regulated in Ireland by the Central Bank
of Ireland, is acting exclusively for the Company and no one else in
connection with the matters referred to in this Announcement and will not be
responsible to anyone other than the Company for providing the protections
afforded to clients of Davy or for providing advice in connection with the
matters referred to herein.

 

 

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