OneSavings Bank plc (the "Company")
2014 Sharesave Scheme ("Sharesave Plan")
2016 Sharesave Options - Notification of Transactions by Persons Discharging Managerial Responsibilities
Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4, the Company granted an option over ordinary shares of 1p each, on 13 May 2016 under the Sharesave Plan to certain PDMRs as follows:
|Name||Options Granted||Exercise date|
|Richard Wilson||4,500||1 July 2019|
|Lisa Odendaal||7,500||1 July 2019|
The Sharesave Plan is an all-employee tax advantaged share plan under Schedule 3 of the Income Tax (Earnings and Pensions) Act 2003. All eligible employees were invited to apply for options. The option price of £2.40 was set at a 20% discount to the average market value of a Share over the period 12, 13 and 14 April 2016. Options become exercisable at the option price on the date shown above for a period of six months and will then lapse.
The beneficial interests in the ordinary share capital of the Company of those PDMRs following the granting of the awards detailed above on 13 May 2016 are:
|Total Interest in Company shares at 15 May 2015|
|Lisa Odendaal||7,500 (0.00%)|
OneSavings Bank plc
Alastair Pate t: 01634 838 973
Robin Wrench / Simone Selzer t: 020 7404 5959
About OneSavings Bank plc
OneSavings Bank plc ('OSB') 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 underserved 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 and secured funding lines. 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 securitisation and participation in the Funding for Lending Scheme.