J&E Davy Reports Share Transactions in Permanent TSB Group Holdings PLC Under Irish Takeover Panel Rules on 2 July 2026

Context of the Irish Takeover Panel Disclosure Requirement for Permanent TSB

The disclosure was made pursuant to Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. Under this framework, connected exempt principal traders dealing in securities of an offeror or offeree during an offer period must publicly disclose such dealings through a Regulatory Information Service. This ensures market transparency and prevents undisclosed accumulations that could distort the market for shares in a company subject to a potential or actual takeover bid.

Permanent TSB Group Holdings PLC is identified as both the offeror or offeree and the party connected to J&E Davy Unlimited Company in the disclosure. The dealings concern ordinary shares with a EUR 0.50 nominal value, the group's main listed equity class. The filing confirms that Permanent TSB is currently within an offer period under the Irish Takeover Rules, a situation investors are closely watching.

J&E Davy Unlimited Company's Role as Connected Exempt Principal Trader

J&E Davy Unlimited Company is described as a connected exempt principal trader with Recognised Intermediary Status, acting in a client-serving capacity. Under Irish Takeover Rules, such traders are exempt from certain dealing restrictions during offer periods because their transactions are part of ordinary market-making or client-serving activities rather than strategic proprietary trading.

The connection between J&E Davy Unlimited Company and Permanent TSB Group Holdings PLC triggers the disclosure obligations under Rule 38.5(a). The dealings do not indicate strategic proprietary activity but reflect normal intermediary functions. Regulatory rules require full transparency of these transactions during the offer period, which this disclosure fulfills.

Details of Share Purchases on 2 July 2026

The announcement states that J&E Davy Unlimited Company purchased 39,385 ordinary shares of EUR 0.50 nominal value in Permanent TSB Group Holdings PLC on 2 July 2026. Purchase prices ranged narrowly between EUR 2.99 and EUR 3.00, indicating a tight intraday trading range.

These purchases were made on behalf of clients rather than for proprietary holdings. The minimal price spread of one euro cent suggests transactions occurred within a short timeframe or during low volatility. While the volume is modest relative to Permanent TSB’s total issued share capital, disclosure is required regardless of size during an offer period.

Details of Share Sales on 2 July 2026

On the same day, J&E Davy Unlimited Company sold 95,305 ordinary shares in Permanent TSB Group Holdings PLC. Sale prices ranged from EUR 2.99 to EUR 3.03, also reflecting a limited trading range.

The sales volume exceeded purchases by approximately 55,920 shares, likely reflecting client orders with differing objectives. The disclosure does not specify the composition of client mandates, nor is such detail required. No derivative transactions were reported as part of these dealings.

No Derivative Transactions or Additional Arrangements Reported

The Form 38.5(a) filing confirms no cash-settled derivatives, such as contracts for difference, or stock-settled derivatives, including options, were transacted on 2 July 2026. No exercises of options or other dealings like subscriptions or conversions were recorded.

This straightforward equity-only disclosure simplifies interpretation for investors and regulators. The absence of derivative activity means no hidden or leveraged exposures are associated with this disclosure.

No Indemnity or Voting Rights Arrangements Declared

J&E Davy Unlimited Company declared no indemnity or option arrangements, nor any agreements or understandings that might influence dealing behavior in Permanent TSB securities. This section is designed to capture side arrangements that could distort the market or provide unfair advantages during the offer period.

Additionally, no agreements relating to voting rights or future acquisition or disposal of securities tied to derivatives were reported. These “N/A” declarations indicate a straightforward series of equity transactions without structural complexities requiring further regulatory scrutiny.

Regulatory Framework for Rule 38.5(a) Disclosures in Ireland

The Irish Takeover Panel Act, 1997, along with the 2022 Takeover Rules, governs takeover bids and mergers involving Irish-incorporated or Euronext Dublin-listed companies. Rule 38 requires connected parties, including exempt principal traders, to file standardised disclosures for any dealings during offer periods via a Regulatory Information Service promptly.

This regime preserves market integrity and fairness when share prices are sensitive to offer developments and prevents undisclosed stake accumulations that could impair shareholder decision-making. The Irish Takeover Panel enforces compliance and has investigative powers. Permanent TSB, as an Irish banking group listed on Euronext Dublin, falls under this jurisdiction, with all connected parties subject to these rules.

Insights on Trading Activity in Permanent TSB Shares

Though procedural, the disclosure’s price data provides insight into trading conditions on 2 July 2026. Purchase and sale prices between EUR 2.99 and EUR 3.03 suggest an orderly, liquid market with narrow bid-offer spreads and no significant intraday price swings evident from this data.

The combined volume of 134,690 shares traded by J&E Davy on that day reflects client-serving activity by one connected trader and should not be interpreted as total market volume. The immediate price impact of these transactions is not publicly available; investors should consult exchange data for broader market context.

Implications for Shareholders and Investors During the Permanent TSB Offer Period

For investors holding or considering Permanent TSB shares, these Rule 38.5(a) filings are standard regulatory disclosures during an offer period, demonstrating functioning transparency mechanisms. Regular disclosures from connected parties provide ongoing visibility into dealing activity and help prevent undisclosed share accumulations.

Investors should watch for further disclosures from J&E Davy and others, as well as any formal updates from Permanent TSB regarding the offer period. Material developments, such as formal offer announcements or regulatory decisions, will be published via a Regulatory Information Service in line with Irish and EU market regulations. Helen Byrne is the contact named in the filing for queries about the specific dealing data.

Accessing Additional Information and Monitoring Future Disclosures

The disclosure was filed on 3 July 2026, covering dealings on 2 July 2026, by J&E Davy Unlimited Company as a connected exempt principal trader with Recognised Intermediary Status. The filing was made available through a Regulatory Information Service to ensure public access and equal market treatment.

Investors and analysts seeking comprehensive insight into Permanent TSB dealing activity during the offer period should monitor the Regulatory Information Service daily for further Form 38 disclosures. The Irish Takeover Panel’s website offers guidance on connected parties’ obligations during offer periods. For specific regulatory questions, investors are encouraged to consult the Panel’s materials or obtain independent financial or legal advice.