Last checked at 9 Oct 2019 14:59
Director/PDMR Shareholding
OneSavings Bank plc(the Company)
Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated with the PDMRs
The Company notifies that following completion of the combination between the Company and Charter Court Financial Services (CCFS) the following changes in the interests in the ordinary shares of £0.01 each (Shares) of the Company of the PDMRs.
(i) Beneficial holdings
| Directors | Number of Shares held |
| Sir George Malcolm Williamson | 71,764 |
| Rajan Kapoor | 8,970 |
| Ian Ward | 35,882 |
| Other PDMRs | |
| Alan Cleary | 1,517,157 |
| Peter Elcock | 74,291 |
| John Nixon | 1,758,480 |
| Paul Whitlock | 76,099 |
(ii) Awards
The Company granted awards under the Mirror Performance Share Plan. The number of shares awarded was calculated using the following formula:
(N*I)*0.8253
Where N is the number of CCFS shares that were subject to the corresponding PSP Award and I is the inverse of the time-based pro rata vesting proportion applied at the Sanction Date.
The PSP awards are based on a mixture of internal financial performance targets and relative total shareholder return on the same terms as the equivalent awards made by the Company in the relevant year. Clawback and malus provisions apply to these Awards and they will be subject to a two year retention period post vesting.
| Name | Number of Awards granted | ||
| PDMR | 2018 PSP | 2019 PSP | Total |
| Alan Cleary | 30,822 | 70,226 | 101,048 |
| Peter Elcock | 30,822 | 70,226 | 101,048 |
| John Nixon | 30,822 | 70,226 | 101,048 |
| Paul Whitlock | 13,801 | 33,745 | 47,546 |
(iii) Roll over sharesave options
Some sharesave options over CCFS shares have also been rolled over to the Company.
| Name | Number of roll over options granted |
| PDMR | 2017 Sharesave |
| Alan Cleary | 7,944 |
| Peter Elcock | 7,944 |
| John Nixon | 7,944 |
| Paul Whitlock | 7,944 |
The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Sir George Malcolm Williamson | |
2 - Reason for the notification
| Position/status | Chairman |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
Transaction(s) summary table
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 71,764 | 0.00 | ||||||
| Aggregated | £0.00 | 71,764 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Rajan Kapoor | |
2 - Reason for the notification
| Position/status | Non-Executive Director |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
Transaction(s) summary table
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 8,970 | 0.00 | ||||||
| Aggregated | £0.00 | 8,970 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Ian Ward | |
2 - Reason for the notification
| Position/status | Non-Executive Director |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
Transaction(s) summary table
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 35,882 | 0.00 | ||||||
| Aggregated | £0.00 | 35,882 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Alan Cleary |
2 - Reason for the notification
| Position/status | Group Managing Director, Mortgages |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 1,626,149 | 0.00 | ||||||
| Aggregated | £0.00 | 1,626,149 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Peter Elcock | |
2 - Reason for the notification
| Position/status | Chief Risk Officer |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
Transaction(s) summary table
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 183,283 | 0.00 | ||||||
| Aggregated | £0.00 | 183,283 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | John Nixon | |
2 - Reason for the notification
| Position/status | Chief Operating Officer |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
Transaction(s) summary table
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 1,867,472 | 0.00 | ||||||
| Aggregated | £0.00 | 1,867,472 | 0.00 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Paul Whitlock |
2 - Reason for the notification
| Position/status | Executive Director, Savings |
| Initial notification/amendment | Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| Full name of the entity | OneSavings Bank plc |
| Legal Entity Identifier code | 213800WTQKOQI8ELD692 |
4 - Details of the transaction(s)
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 4 October 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP – British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £0.00 | 131,589 | 0.00 | ||||||
| Aggregated | £0.00 | 131,589 | 0.00 | |||||
Enquiries:
OneSavings Bank plcNickesha Graham-Burrell, t: 01634 835 796Head of Company Secretariat
Brunswick Robin Wrench / Simone Selzer t: 020 7404 5959
Notes to Editors
About OneSavings Bank plc
OneSavings Bank plc 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 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, secured funding lines and asset finance. 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 access to a securitisation programme and the Term Funding Scheme.