"The Commercial Court has given the go ahead for Permanent TSB to convene a meeting of shareholders for the proposed €1.6bn sale of the bank to Austrian banking group Bawag."
"PTSB shareholder Piotr Skoczylas and two other minority shareholders had asked the court to decide, before the meeting takes place,what the composition of the class of shareholders should be in circumstances where the Minister for Finance holds 57.5pc of PTSB."
"The minister is supporting the sale of the bank."
The Commercial Court approved Permanent TSB to convene a shareholder meeting regarding a proposed €1.6bn sale of the bank to Austrian banking group Bawag. Minority shareholders sought a court decision before the meeting on the composition of the shareholder class in circumstances where the Minister for Finance holds 57.5% of Permanent TSB. The Minister for Finance supports the sale. The court’s approval allows the meeting to proceed despite the request for pre-meeting clarification on shareholder class composition.
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