OneSavings Bank plc
Notification of a Transaction of a Person Discharging Managerial Responsibilities ("PDMR") and person closely associated with the PDMR
The Company notifies the following disposal of ordinary shares of £0.01 each (Shares) at a price of £4.06937.
|Name||Number of Shares sold|
|Katharine Kornitzer (spouse of Clive Kornitzer)||250,000|
The following disclosure is 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||Katharine Kornitzer|
2 - Reason for the notification
|Position/status||Closely associated person of Clive Kornitzer, Group Chief Operating Officer|
|Initial notification/amendment|| Initial Notification |
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or
|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|
|7 April 2017||Ordinary shares of £0.01 each||GB00BM7S7K96||London Stock Exchange, Main Market (XLON)||GBP - British Pound|
| Nature of Transaction: |
OneSavings Bank plc
Nickesha Graham-Burrell, Deputy Company Secretary t: 01634 835 796
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.