Director/PDMR Shareholding

RNS Number : 9085A

Secure Trust Bank PLC

24 January 2020

 

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)		Price(s) Volume(s) £0.40 per share £7.20 per share 3,497 141,667
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)		Price(s) Volume(s) £15.50 103,680
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: [phone]

 Stifel Nicolaus Europe Limited (Joint Broker)

Stewart Wallace

Tel: [phone]  

 Canaccord Genuity Limited (Joint Broker)

David Tyrrell

Tel: [phone]

Tulchan Communications

Tom Murray/Sheebani Chothani

Tel: [phone]

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.

 

END

 

 

DSHBUGDBUBDDGGS