OneSavings Bank plc
(the Company)
Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated with the PDMRs
- Awards
The Company notifies the following changes in the interests in the ordinary shares of £0.01 each (Shares) of the Company of the Executive Directors and other PDMRs arising from awards granted under the Deferred Share Bonus Plan (DSBP) and Performance Share Plan (PSP) on 14 March 2019 at a price of £3.9008 per Share being the average closing price of the Shares for the five dealing days leading up to the date of grant.
The purpose of the DSBP is to facilitate the deferral of all or part of a participant's annual bonus into Shares. Awards will normally vest three years after grant, provided that the participant remains employed by the Company. DSBP awards will not be subject to performance conditions.
The PSP awards are based on a mixture of internal financial performance targets and relative total shareholder return. The performance targets will be measured over three financial years. Clawback and malus provisions apply to these Awards and they will be subject to a two year retention period post vesting.
| Name | Number of Shares acquired | ||
| Executive Directors | |||
| DSBP | PSP | TOTAL | |
| Andrew Golding | 89,031 | 199,959 | 288,990 |
| April Talintyre | 59,383 | 134,703 | 194,086 |
| Other PDMRs | |||
| Jens Bech | 26,224 | 73,985 | 100,209 |
| Richard Davis | 16,008 | 45,696 | 61,704 |
| Jason Elphick | 18,723 | 53,092 | 71,815 |
| Hasan Kazmi | 21,790 | 62,231 | 84,021 |
| Clive Kornitzer | 28,195 | 66,653 | 94,848 |
| Lisa Odendaal | 15,740 | 44,478 | 60,218 |
| Richard Wilson | 17,111 | 48,708 | 65,819 |
- Vestings - Sale to Satisfy Tax Liabilities
The Company also notifies the following changes in the interests in the ordinary shares of £0.01 each (Shares) of the Company of the Executive Directors and other PDMRs arising from awards vested under the Deferred Share Bonus Plan (DSBP) and Performance Share Plan (PSP) on 18 March 2019. The awards vested in full and were granted on 17 March 2016 at a price of £2.53 per Share being the average closing price of the Shares for the five dealing days leading up to the date of grant. The number of shares sold represents the tax liability for each individual.
| Name | Number of Shares disposed | ||||
| Executive Directors | |||||
| DSBP | PSP | TOTAL | |||
| Andrew Golding | 35,596 | 38,275 | 73,871 | ||
| April Talintyre | 24,268 | 27,073 | 51,341 | ||
| Other PDMRs | |||||
| Jens Bech | 16,524 | 15,971 | 32,495 | ||
| Richard Davis | 9,743 | 6,614 | 16,357 | ||
| Hasan Kazmi | 3,553 | 2,763 | 6,316 | ||
| Clive Kornitzer | 13,504 | 12,913 | 26,417 | ||
| Richard Wilson | 10,587 | 7,516 | 18,103 | ||
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 | Andrew Golding | |
2 - Reason for the notification
| Position/status | Chief Executive 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 288,990 | £1,127,292.19 | ||||||
| Aggregated | £3.9008 | 288,990 | £1,127,292.19 | |||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 73,871 | £292,913.29 | ||||||
| Aggregated | £3.9652 | 73,871 | £292,913.29 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | April Talintyre | |
2 - Reason for the notification
| Position/status | Chief Financial 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 194,086 | £757,090.67 | ||||||
| Aggregated | £3.9008 | 194,086 | £757,090.67 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 51,341 | £203,577.33 | ||||||
| Aggregated | £3.9652 | 51,341 | £203,577.33 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Jens Bech |
2 - Reason for the notification
| Position/status | Group Commercial 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 100,209 | £390,895.27 | ||||||
| Aggregated | £3.9008 | 100,209 | £390,895.27 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 32,495 | £128,849.17 | ||||||
| Aggregated | £3.9652 | 32,495 | £128,849.17 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Richard Davis |
2 - Reason for the notification
| Position/status | Chief Information 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 61,704 | £240,694.96 | ||||||
| Aggregated | £3.9008 | 61,704 | £240,694.96 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 16,357 | £64,858.78 | ||||||
| Aggregated | £3.9652 | 16,357 | £64,858.78 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Jason Elphick |
2 - Reason for the notification
| Position/status | Group General Counsel and Company Secretary |
| 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 71,815 | £280,135.95 | ||||||
| Aggregated | £3.9008 | 71,815 | £280,135.95 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Hasan Kazmi |
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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 84,021 | £327,749.12 | ||||||
| Aggregated | £3.9008 | 84,021 | £327,749.12 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | |||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | |||
| Nature of Transaction: Disposal | Price | Volume | Total | ||||
| £3.9652 | 6,316 | £25,044.20 | |||||
| Aggregated | £3.9652 | 6,316 | £25,044.20 | ||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Clive Kornitzer |
2 - Reason for the notification
| Position/status | Group 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 94,848 | £369,983.08 | ||||||
| Aggregated | £3.9008 | 94,848 | £369,983.08 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 26,417 | £104,748.69 | ||||||
| Aggregated | £3.9652 | 26,417 | £104,748.69 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Lisa Odendaal |
2 - Reason for the notification
| Position/status | Chief Internal Auditor |
| 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 60,218 | £234,898.37 | ||||||
| Aggregated | £3.9008 | 60,218 | £234,898.37 | |||||
1 - Details of the person discharging managerial responsibilities / person closely associated
| Name of natural person | Richard Wilson |
2 - Reason for the notification
| Position/status | Group Chief Credit 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 | ||||
| 14 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | outside a trading venue | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £3.9008 | 65,819 | £256,746.76 | ||||||
| Aggregated | £3.9008 | 65,819 | £256,746.76 | |||||
| Date of Transaction | Financial Instrument | Identification Code | Place of Transaction | Currency | ||||
| 18 March 2019 | Ordinary shares of £0.01 each | GB00BM7S7K96 | London Stock Exchange, Main Market (XLON) | GBP - British Pound | ||||
| Nature of Transaction: Disposal | Price | Volume | Total | |||||
| £3.9652 | 18,103 | £71,782.02 | ||||||
| Aggregated | £3.9652 | 18,103 | £71,782.02 | |||||
Enquiries:
OneSavings Bank plc
Nickesha Graham-Burrell, t: 01634 835 796
Head 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.