ONE Savings 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

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 16 March 2017 at a price of £4.0754 per Share being the average closing price of the Shares for the five dealing days leading up to the date of grant.

Deferred Share Bonus Plan

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. 

Name Number Shares acquired
Executive Directors
Andrew Golding 48,998
April Talintyre 33,184
Other PDMRs
Jens Bech 22,765
Richard Davis 13,578
John Eastgate 19,581
Jason Elphick* 31,411
Hasan Kazmi* 43,209
Clive Kornitzer 22,482
Lisa Odendaal* 28,780
Richard Wilson 15,100

All of the above DSBP awards will vest on 16 March 2020 except for those indicated with an asterisk (*), a portion of those awards will vest in 2022.

Performance Share Plan

Awards were also made to Executive Directors and other PDMRs 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.

Name Number  of Shares acquired
Executive Directors
Andrew Golding 143,544
April Talintyre 76,066
Other PDMRs
Jens Bech 62,369
Richard Davis 26,623
John Eastgate 46,621
Jason Elphick 17,324
Hasan Kazmi 35,211
Clive Kornitzer 53,369
Lisa Odendaal 19,767
Richard Wilson 29,200

Richard Davis sold 5,000 Shares on 16 March 2017 at a price of £4.1319 per Share.

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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 192,542 £784,685.67
Aggregated £4.0754 192,542 £784,685.67

  

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 109,250 £445,237.45
Aggregated £4.0754 109,250 £445,237.45

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 85,134 £346,955.10
Aggregated £4.0754 85,134 £346,955.10

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 40,201 £163,835.16
Aggregated £4.0754 40,201 £163,835.16

Nature of Transaction:

 

Disposal
Price Volume Total
£4.1319 5,000 £20,659.29
Aggregated £4.1319 5,000 £20,659.29

  1 - Details of the person discharging managerial responsibilities / person closely associated

Name of natural person John Eastgate

2 - Reason for the notification

Position/status Sales & Marketing 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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 66,202 £269,799.63
Aggregated £4.0754 66,202 £269,799.63

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 48,735 £198,614.62
Aggregated £4.0754 48,735 £198,614.62

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 78,420 £319,592.87
Aggregated £4.0754 78,420 £319,592.87

  1 - Details of the person discharging managerial responsibilities / person closely associated

Name of natural person Clive Kornitzer

2 - Reason for the notification

Position/status 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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 75,851 £309,123.17
Aggregated £4.0754 75,851 £309,123.17

  1 - Details of the person discharging managerial responsibilities / person closely associated

Name of natural person Lisa Odendaal

2 - Reason for the notification

Position/status Head of Internal Audit
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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 48,547 £197,848.44
Aggregated £4.0754 48,547 £197,848.44

  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
16 March 2017 Ordinary shares of £0.01 each GB00BM7S7K96 London Stock Exchange, Main Market (XLON) GBP - British Pound
Nature of Transaction:

 

Acquisition
Price Volume Total
£4.0754 44,300 £180,540.22
Aggregated £4.0754 44,300 £180,540.22

Enquiries:

OneSavings Bank plc
Nickesha Graham-Burrell, Deputy Company Secretary     t: 01634 835 796

Brunswick                                                       
Robin Wrench / Simone Selzer                                        t:  020 7404 5959

Notes to Editors

About OneSavings Bank plc

OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 when the trade and assets of Kent Reliance Building Society were transferred into the business. 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 focuses on selected sub-sectors of the lending market in which it has established expertise, platforms and capabilities, and where opportunities have been identified for both high returns on a risk-adjusted basis and strong growth. These include Buy-to-Let/SME (comprising Buy-to-Let, Commercial, Residential development and Funding lines), Residential Mortgages (comprising First charge, Second charge and Funding lines), and Personal Loans. OSB originates organically through specialist brokers and independent financial advisors.

OSB is predominantly funded by retail savings originated through the established Kent Reliance franchise, which includes a network of branches in the South East of England, as well as online and postal channels. Diversification of funding is currently provided by securitisation and OSB joined the Funding for Lending Scheme in early 2014 and the Term Funding Scheme in November 2016.