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24 Jan 2020 15:17
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
24 January 2020
For immediate release
Secure Trust Bank PLC ("Secure Trust" or the "Company")
Exercise of Options, Issue of Equity
Secure Trust Bank (the "Company") announces that on 24 January 2020 Paul Lynam, Chief Executive Officer and a PDMR of the Company, exercised 141,667 2011 share options at an exercise price of 720 pence and 3,497 Deferred Bonus Plan ("DBP") share options at an exercise price of 40 pence over a total of 145,164 ordinary shares of 40 pence each ("Ordinary Shares").
Subsequently, the Company has been notified that Paul Lynam has sold 103,680 Ordinary Shares at a price of 1,550 pence to fund the acquisition of the shares and to cover the tax and national insurance arising from the exercise, with the remaining 41,484 Ordinary Shares from the exercise being retained.
Mr Lynam's shareholding in the Group has increased from 19,012 shares to 60,496 shares as a result of this transaction, which is consistent with his commitment to build up his shareholding in the Company over time.
The following share option exercises have been made and accordingly the Company will issue 145,164 new ordinary shares ("New Shares") as detailed below:
Name: | 2011 options exercised | Deferred Bonus Plan options exercised
| Director/PDMR/Employee |
Paul Lynam | 141,667 | 3,497 | Director |
An application has been made for the New Shares to be admitted to the premium segment of the Official List of the UK Listing Authority (the "Official List") and to trading on London Stock Exchange plc's main market ("Main Market") for listed securities (together, "Admission"). The shares will rank pari passu with the existing issued shares of the Company and Admission is expected to occur on 29 January 2020.
Following Admission, the Company will have a total of 18,622,664 Ordinary Shares in issue (the "Enlarged Share Capital") each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. This figure of 18,622,664 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and was authorized for release by the Disclosure Committee of the Company.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Paul Lynam | ||||||||
2 | Reason for the notification | |||||||||
a) | Position/status | Director (PDMR)
| ||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||
3 | Details of the issuer | |||||||||
a) | Name | Secure Trust Bank PLC | ||||||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 40p each in Secure Trust Bank PLC ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
b) | Nature of the transaction | Exercise of an option | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated Information - Aggregated volume - Price |
145,164£7.0265 per share | ||||||||
e) | Date of the transaction | 2020-01-24 | ||||||||
f) | Place of the transaction | London Stock Exchange | ||||||||
5 | Securities | |||||||||
(a) | Type and class of securities | Fully paid ordinary shares of 40p each ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Paul Lynam | ||||||||
2 | Reason for the notification | |||||||||
a) | Position/status | Director (PDMR)
| ||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||
3 | Details of the issuer | |||||||||
a) | Name | Secure Trust Bank PLC | ||||||||
b) | LEI | 213800CXIBLC2TMIGI76 | ||||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 40p each in Secure Trust Bank PLC ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
b) | Nature of the transaction | Sale of shares to meet exercise price and tax and national insurance | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated Information - Aggregated volume - Price |
103,680£15.50 per share | ||||||||
e) | Date of the transaction | 2020-01-24 | ||||||||
f) | Place of the transaction | London Stock Exchange | ||||||||
5 | Securities | |||||||||
(a) | Type and class of securities | Fully paid ordinary shares of 40p each ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Neeraj Kapur, Chief Financial Officer
Mark Stevens, Company Secretary
Tel: 0121 693 9100
Stifel Nicolaus Europe Limited (Joint Broker)
Stewart Wallace
Tel: 020 7710 7600
Canaccord Genuity Limited (Joint Broker)
David Tyrrell
Tel: 020 7523 8000
Tulchan Communications
Tom Murray/Sheebani Chothani
Tel: 020 7353 4200
About the Company:
Secure Trust Bank is an established, well‐funded and capitalised UK retail bank with a 67 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had 956 employees (full‐ time equivalent) as at 30 June 2019. The Group's diversified lending portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance, Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers totalled £2,278.3 million, customer deposits totalled £2,001.5 million and the Group's total customer base was well over 1.4 million.
Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
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