Stock Market – Admission and Itemizing of New Strange Shares London Stock Change:OSB

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.

CAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT DATED 9 OCTOBER 2020 HAVE THE SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS OTHERWISE DEFINED IN THIS ANNOUNCEMENT.

FOR IMMEDIATE RELEASE

30 November 2020

Proposed introduction of OSB GROUP PLC (“New OSB”) as a brand new holding firm of the OSB Group by way of a Scheme of Association beneath Half 26 of the Firms Act 2006 (the “Scheme”) and New OSB’s admission to the premium itemizing section of the Official Checklist and to buying and selling on the principle market of the London Stock Change

ADMISSION AND LISTING OF NEW ORDINARY SHARES

OneSavings Bank plc (“OSB”) and New OSB are happy to announce that the Scheme turned efficient on 27 November 2020. Pursuant to the Scheme, 447,304,198 Previous OSB Shares have been cancelled and extinguished and Scheme Shareholders acquired one New OSB Share for each one Previous OSB Share held at 6.00 p.m. on 27 November 2020.

New OSB additionally pronounces that its total issued share capital of 447,304,198 New OSB Shares of three-hundred and 4 (304) pence every have been admitted to the premium itemizing section of the Official Checklist and to buying and selling on the London Stock Change’s principal marketplace for listed securities right this moment. The graduation of dealings in New OSB Shares passed off at 8.00 a.m. right this moment. With impact from 8.00 a.m. right this moment, Previous OSB Shares ceased to be listed on the Official Checklist and their admission to buying and selling on the principle market of the London Stock Change was cancelled.

In accordance with the Monetary Conduct Authority’s Disclosure Steerage and Transparency Rule 5.6.1R, New OSB hereby notifies the market that, with impact from the graduation of dealings, New OSB’s issued share capital as at right this moment, 30 November 2020, consisted of 447,304,198 strange shares of three-hundred and 4 (304) pence every. New OSB doesn’t maintain any shares in treasury. Due to this fact, the full variety of voting rights in New OSB is 447,304,198. This determine may be utilized by shareholders because the denominator for the calculations by which they are going to decide if they’re required to inform their curiosity in, or a change to their curiosity in, New OSB beneath the Monetary Conduct Authority’s Disclosure Steerage and Transparency Guidelines.

All references to instances on this Announcement are to London time, except in any other case acknowledged.

Enquiries

For additional info, please contact the next:

OneSavings Bank plc

Alastair Pate, Group Head of Investor Relations                         Tel: +44 (0) 16 3483 8973

Slaughter and May are retained as authorized adviser to OSB.

Notes to Editors

OSB started buying and selling as a bank on 1 February 2011 and was admitted to the London Stock Change’s principal marketplace for listed securities on 10 June 2014.  OSB joined the FTSE 250 index in June 2015.  The OSB Group is a specialist lending and retail financial savings group authorised by the PRA and controlled by the FCA and the PRA.

The OSB Group has grown organically and thru the acquisition of companies and portfolios.  On four October 2019, OSB acquired the Constitution Court docket Group because of the Constitution Court docket Mixture.  The Constitution Court docket Group, based mostly at 2 Constitution Court docket, Broadlands, Wolverhampton, WV10 6TD, was initially based in November 2008 as a supplier of credit score consultancy and mortgage administration providers for swimming pools of mortgage loans owned by third events.  It was subsequently granted permission by the Monetary Companies Authority (now the FCA) to behave as an authorised mortgage administrator and lender and in addition obtained a banking licence from the PRA.

Primarily based in Chatham, Kent, the OSB Group trades beneath the Kent Reliance, InterBay Industrial, InterBay Asset Finance and Heritable Improvement Finance manufacturers within the UK.  Following the Constitution Court docket Mixture, the OSB Group additionally trades beneath the Exact Mortgages, Actual Mortgage Consultants and Constitution Financial savings Bank manufacturers within the UK.  The OSB Group additionally has a presence within the Channel Islands beneath the Jersey Home Loans and Guernsey Home Loans manufacturers.

The OSB Group primarily targets underserved market sub-sectors that provide excessive progress potential, enticing risk-adjusted returns and the place it has established experience, platforms and capabilities.  These embody non-public rented sector/skilled buy-to-let, business and semi-commercial mortgages, residential improvement finance, bespoke and specialist residential lending, secured funding strains and asset finance.  Following the Constitution Court docket Mixture, the OSB Group retains the market identities and propositions of the OSB Enterprise and the Constitution Court docket Enterprise.  The OSB Enterprise targets its clients via specialist brokers and impartial monetary advisers, and is differentiated via its use of highly-skilled, bespoke underwriting and its environment friendly working model.  The Constitution Court docket Enterprise is differentiated via danger administration experience and best-of-breed automated know-how and programs, making certain environment friendly processing, sturdy credit score and collateral danger management and velocity of product improvement and innovation.  By way of its Actual Mortgage Consultants model, it affords mortgage servicing, administration and credit score consultancy.

Additional info

This Announcement is for info functions solely and isn’t supposed to and doesn’t represent or type a part of any supply to promote or subscribe for or any invitation to buy or subscribe for or in any other case purchase or get rid of any securities or the solicitation of any vote or approval in any jurisdiction, nor will there be any sale, issuance or switch of securities in any jurisdiction in contravention of relevant legislation. The Scheme might be made solely pursuant to the phrases of the Scheme Doc setting out the particulars of the proposed Scheme between OSB and the OSB Shareholders with or topic to any modification, addition or situation accredited or imposed by the Court docket and agreed by OSB, which, along with the types of proxy that accompany the Scheme Doc, include the total phrases and circumstances of the Scheme, together with particulars of find out how to vote in respect of the Scheme.

This Announcement doesn’t represent a prospectus or prospectus equal doc.

Abroad jurisdictions

The discharge, publication or distribution of this Announcement (in complete or partially) in sure jurisdictions may be restricted by legislation and due to this fact individuals into whose possession this Announcement comes ought to inform themselves about and observe any such restrictions in relation to New OSB Shares or this Announcement.  Besides in the UK, no motion has been taken or might be taken in any jurisdiction that may allow possession or distribution of this Announcement and all paperwork referring to the Scheme in any nation or jurisdiction the place motion for that objective is required.  Accordingly, this Announcement may not be distributed or revealed in any jurisdiction the place to take action would breach any securities legal guidelines or rules of any such jurisdiction or give rise to an obligation to acquire any consent, approval or permission, or to make any software, submitting or registration.  Failure to adjust to these restrictions may represent a violation of the securities legal guidelines or rules of such jurisdictions.

Different

The Worldwide Securities Identification Quantity for OSB Shares is GB00BM7S7K96.

The Worldwide Securities Identification Quantity for New OSB Shares is GB00BLDRH360.