OneSavings Bank plc ('the Company')
Issue of Shares
The Company announces that, pursuant to the exercise of a sharesave option, an application has been made for an additional 2,126 ordinary shares in the Company to be admitted to trading on the Official List of the UK Listing Authority by way of a Premium Listing and to trading on the London Stock Exchange's Main Market for listed securities ('Admission'). Admission is expected to take place on 2 June 2016.
Accordingly, following Admission, the total number of ordinary shares in the Company with voting rights will be 243,082,091. This figure may be used by the Company's shareholders as the denominator for calculations to determine if they have a notifiable interest in OneSavings Bank plc under the Disclosure and Transparency Rules, or if such interest has changed.
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.