Important Correction to Shareholding Notification
This announcement serves as a crucial correction to the report titled “Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMR).” Originally released, there was a misreported aggregated volume that has now been corrected. The accurate figure is 142,477 shares, rectifying the previous statement of 142,478 shares. All other details from the announcement remain as previously disclosed.
Overview of the Announcement
OSB GROUP PLC, the company in focus, highlights this correction for transparency and accuracy.
Notification of Change in Shareholding
Following the adjustments, this correction pertains to the changes in shareholdings related to Orlagh Hunt, a key person discharging managerial responsibilities (PDMR) within the organization. These changes arise from a Recruitment Award along with Awards linked to the Deferred Share Bonus Plan (DSBP) and Performance Share Plan (PSP). On the noted date, the shares were priced at £3.7087 each — this price is based on the average closing value over the three trading days leading up to September.
Purpose Behind the Adjustments
The Recruitment Award acts to compensate for shares that were forfeited earlier, abiding by similar vesting and holding periods as the original awards. DSBP allows the deferment of part of a management's annual bonus into shares that are restricted for sale for at least a year post-grant, without any performance conditions tied to them. Meanwhile, the PSP is more performance-driven, utilizing a combination of financial metrics, risk assessments, and ESG factors to measure its success over a three-year period.
Details Surrounding Orlagh Hunt
Orlagh Hunt has stepped into the role of Chief People Officer, which is a newly established position reporting directly to the Chief Executive Officer. As part of the Group Executive Committee, she plays a significant role in the overarching strategy of OSB Group PLC.
Transaction Specifications
In reviewing the specific transactions, the operational details are crucial to comprehend the implications of these shareholdings. The following are key elements from the recent transactions:
- Name: Orlagh Hunt
- Position: Chief People Officer
- Notification Type: Initial Notification
Moreover, regarding the issuer, here are some pertinent points:
- Entity Name: OSB GROUP PLC
- LEI Code: 213800ZBKL9BHSL2K459
Key Transaction Details
Examining the transactions themselves, the core aspects of the shares are instrumental:
- Instrument Description: Ordinary shares of £0.01 each
- Identification Code: GB00BLDRH360
- Transaction Nature: Grant of Awards
- Price: £3.7087
- Volume: 142,477
- Aggregated Price: £528,404.44
- Date of Transaction: 20 September
- Transaction Location: Outside a trading venue
Contact Information for OSB Group PLC
For further inquiries, you can reach the OSB Group PLC's representatives:
- Name: Jason Elphick
- Role: Group General Counsel and Company Secretary
- Phone: 01634 848 944
- Email: osbrelations@osb.co.uk
Background on OSB Group PLC
Founded in 2011, OSB Group PLC operates within the financial services sector, primarily focusing on lending and savings. It debuted on the London Stock Exchange and became part of the FTSE 250 index shortly after. The recent acquisition of Charter Court in 2019 further solidified its standing. The group indicates a strategic evolution towards enhanced customer offerings and robust financial services.
Frequently Asked Questions
What is the correction about?
The correction addresses an error in the reported aggregated share volume of Orlagh Hunt, adjusting it from 142,478 to 142,477 shares.
Who is Orlagh Hunt?
Orlagh Hunt is the Chief People Officer at OSB Group PLC and a key figure in managerial responsibilities.
What does the DSBP Award signify?
The DSBP Award allows parts of annual bonuses to be converted into shares with a minimum one-year sale restriction.
What kind of awards are being granted?
The awards include Recruitment Awards, DSBP Awards, and PSP Awards, each serving different strategic purposes.
How can I contact OSB Group PLC?
You can contact Jason Elphick via phone or email for more information or inquiries related to OSB Group PLC.
