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ONESAVINGS BANK PLC (OSB)

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Tuesday 19 March, 2019

ONESAVINGS BANK PLC

OneSavings Bank plc : Director/PDMR Shareholding

OneSavings Bank plc : Director/PDMR Shareholding

OneSavings Bank plc
(the Company)

Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated with the PDMRs

  1. 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  
  DSBPPSPTOTAL
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
  1. 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  
  DSBPPSPTOTAL
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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£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 VolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 194,086 £757,090.67
Aggregated £3.9008 194,086 £757,090.67

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
Price VolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 100,209 £390,895.27
Aggregated £3.9008 100,209 £390,895.27

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 61,704 £240,694.96
Aggregated £3.9008 61,704 £240,694.96

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 84,021 £327,749.12
Aggregated £3.9008 84,021 £327,749.12

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 94,848 £369,983.08
Aggregated £3.9008 94,848 £369,983.08

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£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 TransactionFinancial Instrument Identification Code Place of TransactionCurrency
14 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 outside a trading venue GBP - British Pound
Nature of Transaction:

 

Acquisition
PriceVolumeTotal
£3.9008 65,819 £256,746.76
Aggregated £3.9008 65,819 £256,746.76

Date of TransactionFinancial Instrument Identification Code Place of TransactionCurrency
18 March 2019 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 Disposal
PriceVolumeTotal
£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.




This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: OneSavings Bank plc via Globenewswire


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