Response to Announcement by Axis Capital Limited
PTSBGH confirms no offer from Axis; remains focused on BAWAG acquisition with High Court sanction scheduled 27 October 2026.
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Permanent TSB Group Holdings PLC ("PTSBGH" or the "Company") notes the public statements made by Axis Capital Limited and its principals ("Axis") since 2 October 2026.
PTSBGH confirms that no offer has been made by Axis for the Company and that the announcement by Axis is highly speculative and conditional.
PTSBGH remains fully focused on the Board recommended proposal from BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft ("BAWAG PSK"), a wholly owned subsidiary of BAWAG Group AG ("BAWAG"), which was approved by PTSBGH shareholders.
Update on the Recommended Offer for PTSBGH by BAWAG
PTSBGH commenced a formal sale process on 30 October 2025, in which all credible interested and potential bidders for the Company could participate.
Following a rigorous and competitive process, BAWAG PSK was selected by the Board of PTSBGH as the preferred bidder.
On 14 April 2026, BAWAG PSK announced a firm intention to make an offer for the Company which was unanimously recommended by the Board of PTSBGH (the "Recommended BAWAG Offer").
On 30 July 2026, PTSBGH shareholders overwhelmingly approved the Recommended BAWAG Offer at the Scheme Meeting and Extraordinary General Meeting.
The Board of PTSBGH is focused on delivering value and certainty to the Company's shareholders and, in accordance with its legal obligations, is continuing to work with BAWAG PSK to satisfy the remaining conditions set out in the Scheme Document dated 15 May 2026, including the sanction by the High Court of the Scheme at the Court Hearing scheduled for 27 October 2026.
The Directors of PTSBGH 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.
Advisers
Disclosure requirements of the Irish Takeover Rules
Other Matters
Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the circular relating to the Scheme published by PTSBGH on 15 May 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.