POST-STABILISATION NOTICE

RNS Number : 5775L

OneSavings Bank PLC

07 July 2014

 

Post-stabilisation notice

7 July 2014

Not for distribution, directly or indirectly, in or into the United States, Canada, Japan or Australia or any jurisdiction in which such distribution would be unlawful.

OneSavings Bank plc

Post stabilisation notice

Further to its announcement on 5 June 2014 relating to its initial public offering (the "Offer"), OneSavings Bank plc (the "Company") confirms that Barclays Capital Securities Limited (Contact: Ben West; Telephone: [phone]) in its capacity as stabilisation manager, hereby gives notice that, in accordance with Commission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive (2003/6/EC), it has engaged in stabilisation transactions in respect of the following securities during the stabilisation period. No further stabilisation trades have or will take place.

The securities:
Issuer:	OneSavings Bank plc
Securities:	Ordinary Shares of £0.01 each
ISIN:	GB00BM7S7K96
Offering Size:	78,991,239 Ordinary Shares
Maximum size of over-allotment facility	11,848,686 Ordinary Shares
Description:	Initial Public Offering of Ordinary Shares
Offer price:	170 pence per Ordinary Share
Associated securities:	There are no associated instruments that are subject to stabilisation
Stabilisation:
Stabilising Manager:	Barclays  Capital Securities Limited, 5 North Colonnade, Canary Wharf, London, E14 4BB, United Kingdom
Stabilisation period:	From  5 June 2014 to 4 July 2014
Stabilisation started:	6 June 2014
Stabilisation last occurred:	4 July 2014

For each of the dates during which stabilisation transactions were carried out, the price range was as follows:

Date	Lowest Price (GBP)	Highest Price (GBP)
6 June 2014	1.70	1.70
12 June 2014	1.70	1.70
13 June 2014	1.70	1.70
17 June 2014	1.69	1.70
18 June 2014	1.67	1.70
19 June 2014	1.66	1.67
24 June 2014	1.65	1.65
25 June 2014	1.65	1.65
26 June 2104	1.64	1.64
27 June 2014	1.64	1.64
30 June 2014	1.65	1.65
1 July 2014	1.63	1.655
4 July 2014	1.63	1.63

Accordingly, Barclays Capital Securities Limited, as Stabilising Manager, exercised the over-allotment option (as described in the OneSavings Bank plc prospectus ("Prospectus")) in respect of 5,044,745 ordinary shares in OneSavings Bank plc on 4 July 2014, taking the total number of ordinary shares that were subject to the Offer to 84,035,984 and which has resulted in the total shareholding in OneSavings Bank plc of OSB Holdco Limited being reduced from 163,233,071 ordinary shares to 158,188,326 ordinary shares, or by approximately 3.1 per cent. OSB Holdco Limited is a company incorporated in the Cayman Islands controlled by funds advised by J.C. Flowers & Co. LLC ("J.C. Flowers & Co.") and whose shareholders include certain of the directors and members of the senior management of the Company.

This announcement is not an offer of securities for sale, or a solicitation of an offer to purchase securities in the United States, Australia, Canada or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

Neither this announcement nor any copy of it may be made or transmitted into the United States, or distributed, directly or indirectly, in the United States. Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into Australia, Canada or Japan or to any persons in any of those jurisdictions, except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian or Japanese securities laws. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

The securities to which this announcement relates have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any regulatory authority or under any applicable securities laws of any state or other jurisdiction of the United States, and may not be offered or sold within the United States unless registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable state law. There will be no public offer of the securities in the United States.

 

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