OneSavings Bank plc (the 'Company')
Notification of a Transaction of a Person Discharging Managerial Responsibilities ("PDMR") and person closely associated with the PDMR
The Company notifies the following acquisition by Tim Hanford, a PDMR, of 500,000 Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities.
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 | Tim Hanford | |
2 - Reason for the notification
| Position/status | Non-executive 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 | ||||
| 25 May 2017 | Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities | XS1617418501 | Euronext | GBP - British Pound | ||||
| Nature of Transaction: Acquisition | Price | Volume | Total | |||||
| £1.00 | 200,000 | £200,000 | ||||||
| £1.045 | 300,000 | £313,500 | ||||||
| Aggregated | £1.027 | 500,000 | £513,500 | |||||
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 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 access to a securitisation programme; and the Funding for Lending Scheme and Term Funding Scheme, which OSB joined in 2014 and 2016, respectively.
