ONE Savings Bank PLC : Director/PDMR Shareholding

Published: 01.04.2015 12:10:31 CET

Pursuant to its obligations under Disclosure and Transparency Rule 3.1.4R(1)(a), OneSavings Bank plc (the 'Company') notifies the following changes in the interests in the ordinary shares of 1p each of the Company ('Shares') of the executive directors and other persons discharging managerial responsibilities ('PDMRs') arising from awards granted under the deferred share bonus plan ("DSBP"), and performance share plan ("PSP") on 18 March 2015.  A share price of 219p per share has been applied to determine the number of Shares awarded under each of the plans.

Full details of the plans will be published within the Company's Annual Report 2014 on 31 March 2015.

Deferred Share Bonus Plan Awards

The purpose of the DSBP is to facilitate the deferral of all or part of the Senior Leadership Team's annual bonus into Ordinary Shares.  Awards will normally vest three years after grant, provided the participant is still employed in the Company's group. DSBP awards will not be subject to performance conditions.  On vesting, awards in the form of nil (or nominal) options will normally be exercisable up to the tenth anniversary of grant unless they lapse earlier

The following DSBP awards have been granted to the following executive directors and other PDMRs on 18 March 2015 (these grants took place at Reliance House, Sun Pier, Chatham, Kent ME4 4ET):

  Number of DSBP Shares awarded 2015
Executive directors  
Andy Golding 79,307
April Talintyre 54,906
     
Other PDMRs    
Jens Bech 36,754  
Zoe Bucknell 22,123  
Richard Davis 21,366  
John Eastgate 28,230  
Clive Kornitzer 31,731  
Mark Paskowitz 21,358  
Richard Wilson 21,214  

These DSBP awards vest on 18 March 2018

Performance Share Plan Awards

Any employee of the Company and its subsidiaries will be eligible to participate in the PSP at the discretion of the Remuneration Committee.  Awards will be made to Executive Directors and the Senior Leadership team, based on a mixture of internal financial performance targets and relative Total Shareholder Return.  Any vesting will be subject to an underpin, whereby the Remuneration Committee must be satisfied that the business has operated within the Board's risk appetite framework. This takes into account capital adequacy, liquidity, credit risk, operational risk and conduct & compliance risk.  The performance targets will be measured over three financial years.  Clawback and malus provisions apply and are structured as for the annual bonus.

The following PSP awards have been granted to the following executive directors and other PDMRs on 18 March 2015 (these grants took place at Reliance House, Sun Pier, Chatham, Kent ME4 4ET):

  Number of PSP Shares awarded 2015
Executive directors  
Andy Golding 171,233
April Talintyre 121,005
   
Other PDMRs  
Jens Bech 75,114
Zoe Bucknell 34,247
Richard Davis 28,881
John Eastgate 53,699
Clive Kornitzer 60,731
Mark Paskowitz 33,105
Richard Wilson 34,247

In summary:
1.   the beneficial interests in the ordinary share capital of the Company of those executive directors and other PDMRs who have been granted Deferred Share Bonus Plan and Performance Share Plan awards prior to these awards being made were:

   

Interest
in Company
shares
prior to these awards
Outstanding Deferred Share Bonus
awards
prior to this award
Outstanding Performance Share Plan
share awards
prior to this award
Outstanding Sharesave awards
Executive directors        
Andy Golding 3,823,522 0 0 0
April Talintyre 1,529,415 0 0 6,716
         
Other PDMRs        
Jens Bech 1,529,415 0 0 6,716
Zoe Bucknell 607,901 0 0 6,716
Richard Davis 260,879 0 0 6,716
John Eastgate 1,137,387 0 0 6,716
Clive Kornitzer 1,147,054 0 0 6,716
Mark Paskowitz 223,611 0 0 0
Richard Wilson 260,879 0 0 0

2.   the beneficial interests in the ordinary share capital of the Company of those executive directors and other PDMRs following the making of the awards detailed above on 18 March 2015 are:

  Interest
in Company
shares at
18 March 2015
Deferred
Share Bonus
awards at
18 March 2015
Performance Share Plan
share awards at
18 March 2015
Sharesave awards at 18 March 2015
Executive directors        
Andy Golding 3,823,522
(1.57%)
79,307 171,233 0
April Talintyre 1,529,415
(0.63)
54,906 121,005 6,716
         
Other PDMRs        
Jens Bech 1,529,415
(0.63%)
36,754 75,114 6,716
Zoe Bucknell 607,901
(0.25%)
22,123 34,247 6,716
Richard Davis 260,879
(0.11%)
21,366 28,881 6,716
John Eastgate 1,137,387
(0.47%)
28,230 53,699 6,716
Clive Kornitzer 1,147,054
(0.47%)
31,731 60,731 6,716
Mark Paskowitz 223,611
(0.09%)
21,358 33,105 0
Richard Wilson 260,879
(0.11%)
21,214 34,247 0

Name of authorised official of issuer responsible for making notification:

Zoe Bucknell
Group General Counsel and Company Secretary

Tel:  01634 835788