Last checked at 16 Sep 2016 17:31
OneSavings Bank plc
(the 'Company')
Director/PDMR Dealings
The Company announces that it has received notifications that on 8 September 2016 the following share transfers occurred:
Mr John Eastgate, a member of the Executive Committee of the Company, transferred 1,275 Class D Shares in OSB HoldCo Limited (corresponding to 200,022 ordinary shares in the Company) to his wife, Christine Eastgate (a person closely associated), for nil consideration.
Following this transaction Mr Eastgate is interested in 114,681* ordinary shares in the Company, representing approximately 0.05 per cent of the ordinary shares in issue.
Mr Clive Kornitzer, a member of the Executive Committee of the Company, transferred 3,487 Class E Shares in OSB HoldCo Limited (corresponding to 547,054 ordinary shares in the Company) to his wife, Katherine Kornitzer (a person closely associated), for nil consideration.
Following this transaction Mr Kornitzer is interested in 100,000* ordinary shares in the Company, representing approximately 0.04 per cent of the ordinary shares in issue.
For further information contact:
Enquiries:
OneSavings Bank plc
Alastair Pate, Head of Investor Relations t: 01634 838973
Brunswick
Robin Wrench / Simone Selzer t: 020 7404 5959
Notes to Editors
*These references to interests in shares above do not include unvested shares such as deferred share bonus awards, performance share plans or sharesave awards.
About OneSavings Bank plc
OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 and was admitted to the main market of the London Stock Exchange in June 2014 (OSB.L). OSB joined the FTSE 250 index in June 2015.
OSB is a specialist lending and retail savings group authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
OSB primarily targets underserved market sub-sectors that offer high growth potential and attractive risk-adjusted returns in which it can take a leading position and where it has established expertise, platforms and capabilities. These include private rented sector Buy-to-Let, commercial and semi-commercial mortgages, residential development finance, bespoke and specialist residential lending and secured funding lines. OSB originates organically through specialist brokers and independent financial advisers. It is differentiated through its use of high skilled, bespoke underwriting and efficient operating model.
OSB is predominantly funded by retail savings originated through the long established Kent Reliance name, which includes online and postal channels, as well as a network of branches in the South East of England. Diversification of funding is currently provided by participation in the Funding for Lending Scheme and access to a securitisation programme.