REG-ONE Savings Bank PLC : Director/PDMR Shareholding <Origin Href="QuoteRef">OSBO.L</Origin>
29/03/2016 15:45
Pursuant to its obligations under Disclosure and Transparency Rule
3.1.4R(1)(a), OneSavings Bank plc (the 'Company') notifies the following
changes in the interests in the ordinary shares of 1p each of the Company
('Shares') of the executive directors and other persons discharging managerial
responsibilities ('PDMRs') arising from awards granted under the deferred
share bonus plan ("DSBP"), and performance share plan ("PSP") on 17 March
2016. A share price of 253p per share has been applied to determine the
number of Shares awarded under each of the plans.
Deferred Share Bonus Plan Awards
The purpose of the DSBP is to facilitate the deferral of all or part of the
Senior Leadership Team's annual bonus into Ordinary Shares. Awards will
normally vest three years after grant, provided the participant is still
employed in the Company's group. DSBP awards will not be subject to
performance conditions. On vesting, awards in the form of nil (or nominal)
options will normally be exercisable up to the tenth anniversary of grant
unless they lapse earlier
The following DSBP awards have been granted to the following executive
directors and other PDMRs on 17 March 2016 (these grants took place at
Reliance House, Sun Pier, Chatham, Kent ME4 4ET):
Number of DSBP Shares awarded 2016
Executive directors
Andy Golding 75,356
April Talintyre 51,374
Other PDMRs
Jens Bech 34,980
Zoe Bucknell 12,183
Richard Davis 20,624
John Eastgate 25,903
Hasan Kazmi 7,520
Clive Kornitzer 28,586
Richard Wilson 22,411
These DSBP awards vest on 18 March 2019
Performance Share Plan Awards
Any employee of the Company and its subsidiaries will be eligible to
participate in the PSP at the discretion of the Remuneration Committee.
Awards will be made to Executive Directors and the Senior Leadership team,
based on a mixture of internal financial performance targets and relative
Total Shareholder Return. Any vesting will be subject to an underpin,
whereby the Remuneration Committee must be satisfied that the business has
operated within the Board's risk appetite framework. This takes into account
capital adequacy, liquidity, credit risk, operational risk and conduct &
compliance risk. The performance targets will be measured over three
financial years. Clawback and malus provisions apply and are structured as
for the annual bonus.
The following PSP awards have been granted to the following executive
directors and other PDMRs on 17 March 2016 (these grants took place at
Reliance House, Sun Pier, Chatham, Kent ME4 4ET):
Number of PSP Shares awarded 2016
Executive directors
Andy Golding 162,055
April Talintyre 114,625
Other PDMRs
Jens Bech 67,621
Richard Davis 28,000
John Eastgate 49,271
Hasan Kazmi 11,695
Clive Kornitzer 54,672
Richard Wilson 31,818
In summary:
1. the beneficial interests in the ordinary share capital of the Company
of those executive directors and other PDMRs who have been granted Deferred
Share Bonus Plan and Performance Share Plan awards prior to these awards being
made were:
Interest in Company shares prior to these awards Outstanding Deferred Share Bonus awards prior to this award Outstanding Performance Share Plan share awards prior to this award Outstanding Sharesave awards
Executive directors
Andy Golding 0.93% 79,307 171,233 0
April Talintyre 0.40% 54,906 121,005 6,716
Other PDMRs
Jens Bech 0.23% 36,754 75,114 10,680
Zoe Bucknell 0.05% 22,123 34,247 6,716
Richard Davis 0.13% 21,366 28,881 13,323
John Eastgate 0.17% 28,230 53,699 10,680
Hasan Kazmi 0 0 0 0
Clive Kornitzer 0.31% 31,731 60,731 10,680
Richard Wilson 0.13% 24,214 34,247 0
2. the beneficial interests in the ordinary share capital of the Company
of those executive directors and other PDMRs following the making of the
awards detailed above on 17 March 2016 are:
Interest in Company shares at 17 March 2016 Deferred Share Bonus awards at 17 March 2016 Performance Share Plan share awards at 17 March 2016 Sharesave awards at 17 March 2016
Executive directors
Andy Golding 1.02% 154,663 333,288 0
April Talintyre 0.46% 106,280 235,630 6,716
Other PDMRs
Jens Bech 0.27% 71,734 142,735 10,680
Zoe Bucknell 0.05% 34,306 34,247 6,716
Richard Davis 0.15% 41,990 56,881 13,323
John Eastgate 0.20% 54,133 102,970 10,680
Hasan Kazmi 0.01% 7,520 11,695 0
Clive Kornitzer 0.34% 60,317 115,403 10,680
Richard Wilson 0.15% 46,625 66,065 0
Enquiries:
OneSavings Bank plc
Alastair Pate, Head of Investor Relations t: 01634 838973
Brunswick
t: 020 7404 5959
Robin Wrench / Simone Selzer
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 ('KRBS') 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 Residential Mortgages (comprising first charge, second
charge and shared ownership), Buy-to-Let/SME 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 a securitisation and OSB
joined the Funding for Lending Scheme in early 2014.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: ONE Savings Bank PLC via Globenewswire
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