OSB GROUP PLC
Notification of Transactions of a Person Discharging Managerial Responsibilities (PDMR)
The Company notifies a change in the interests of Peter Elcock, a PDMR, in the ordinary shares of £3.04 each of the Company, following a disposal at a price of £4.43.
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||Peter Elcock|
2 - Reason for the notification
|Position/status||Chief Risk Officer, CCFS|
|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||OSB GROUP PLC|
|Legal Entity Identifier code||213800ZBKL9BHSL2K459|
4 - Details of the transaction(s)
Transaction(s) summary table
|Date of Transaction||Financial Instrument||Identification Code||Place of Transaction||Currency|
|24 December 2020||Ordinary shares of £3.04 each||GB00BLDRH360||London Stock Exchange, Main Market (XLON)||GBP – British Pound|
|Nature of Transaction:|
OSB GROUP PLC
Nickesha Graham-Burrell, Group Head of Company Secretariat t: 01634 835 796
Robin Wrench / Simone Selzer t: 020 7404 5959
Notes to Editors
About OSB GROUP 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. On 4 October 2019, OSB acquired Charter Court Financial Services Group plc (CCFS) and its subsidiary businesses. On 30 November 2020, OSB GROUP PLC became the listed entity and holding company for the OSB Group. 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. The Group reports under two segments, OneSavings Bank and Charter Court Financial Services.
OneSavings Bank primarily targets 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, secured funding lines and asset finance.
OneSavings Bank originates mortgages organically via specialist brokers and independent financial advisers through its specialist brands including Kent Reliance for Intermediaries and InterBay Commercial. It is differentiated through its use of highly skilled, bespoke underwriting and efficient operating model.
OneSavings Bank 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 securitisation programmes, the Term Funding Scheme, Term Funding Scheme for SMEs and the Bank of England Indexed Long-Term Repo operation.
Charter Court Financial Services (CCFS)
CCFS focuses on providing Buy-to-Let and specialist residential mortgages, mortgage servicing, administration and credit consultancy and retail savings products. It operates through its three brands – Precise Mortgages, Exact Mortgage Experts and Charter Savings Bank.
It is differentiated through risk management expertise and best-of-breed automated technology and systems, ensuring efficient processing, strong credit and collateral risk control and speed of product development and innovation. These factors have enabled strong balance sheet growth whilst maintaining high credit quality mortgage assets.
CCFS is predominantly funded by retail savings originated through its Charter Savings Bank brand. Diversification of funding is currently provided by securitisation programmes, the Term Funding Scheme, Term Funding Scheme for SMEs and the Bank of England Indexed Long-Term Repo operation.