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.