The board of PTSB confirmed today that no offer has been made by Axis Capital for the bank.
In a statement today, PTSB said it is firmly of the view that yesterday’s Axis announcement remains highly speculative and conditional.
“No new information has been provided by Axis or its advisors that has changed that position,” it added.
The bank said that a High Court sitting will proceed as planned on October 27 to sanction the deal to sell the bank to Austria’s BAWAG Group for €1.6 billion.
PTSB said it remains focused on delivering value and certainty to its shareholders and, in accordance with its legal obligations, is continuing to work with BAWAG to satisfy the remaining conditions of the deal.
The lender noted that just four shareholders, out of a total of approximately 12,000 shareholders, and who hold only 0.002890% of its shares, have indicated to the High Court that they intend to object to the sale.
“These shareholders have, over a prolonged period, pursued a number of unsuccessful legal proceedings concerning PTSB and the [Finance] Minister’s shareholding in the company,” the bank said.
The Court hearing is expected to take place over a number of days.
“The timing of the judgment, following the satisfaction of scheme conditions and the conclusion of the application for sanction of the scheme, will be a matter for the High Court,” PTSB said.
