23 Jul 2015 16:15
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: +353 (0)1 6695622
Email: rajesh.manirajan@permanenttsb.ie
Media
Ray Gordon
Gordon MRM
Landline: +353 (0)1 6650452
Mobile: +353(0)87 2417373
Email: ptsb@gordonmrm.ie