TIDMSTB
RNS Number : 9085A
Secure Trust Bank PLC
24 January 2020
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
24 January 2020
For immediate release
Secure Trust Bank PLC ("Secure Trust" or the "Company")
Exercise of Options, Issue of Equity
Secure Trust Bank (the "Company") announces that on 24 January
2020 Paul Lynam, Chief Executive Officer and a PDMR of the Company,
exercised 141,667 2011 share options at an exercise price of 720
pence and 3,497 Deferred Bonus Plan ("DBP") share options at an
exercise price of 40 pence over a total of 145,164 ordinary shares
of 40 pence each ("Ordinary Shares").
Subsequently, the Company has been notified that Paul Lynam has
sold 103,680 Ordinary Shares at a price of 1,550 pence to fund the
acquisition of the shares and to cover the tax and national
insurance arising from the exercise, with the remaining 41,484
Ordinary Shares from the exercise being retained.
Mr Lynam's shareholding in the Group has increased from 19,012
shares to 60,496 shares as a result of this transaction, which is
consistent with his commitment to build up his shareholding in the
Company over time.
The following share option exercises have been made and
accordingly the Company will issue 145,164 new ordinary shares
("New Shares") as detailed below:
Name: 2011 options Deferred Bonus Director/PDMR/Employee
exercised Plan options
exercised
Paul Lynam 141,667 3,497 Director
An application has been made for the New Shares to be admitted
to the premium segment of the Official List of the UK Listing
Authority (the "Official List") and to trading on London Stock
Exchange plc's main market ("Main Market") for listed securities
(together, "Admission"). The shares will rank pari passu with the
existing issued shares of the Company and Admission is expected to
occur on 29 January 2020.
Following Admission, the Company will have a total of 18,622,664
Ordinary Shares in issue (the "Enlarged Share Capital") each
carrying one voting right. The Company does not hold any Ordinary
Shares in Treasury. This figure of 18,622,664 Ordinary Shares may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 and was authorized for
release by the Disclosure Committee of the Company.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Paul Lynam
--------------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Director (PDMR)
--------------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------------- ----------------------------------
3 Details of the issuer
---------------------------------------------------------------------------
a) Name Secure Trust Bank PLC
--------------------------------------- ----------------------------------
b) LEI 213800CXIBLC2TMIGI76
--------------------------------------- ----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description of the financial Ordinary shares of 40p each
instrument, type of instrument in Secure Trust Bank PLC
Identification code ISIN number GB00B6TKHP66
SEDOL number B6TKHP6
--------------------------------------- ----------------------------------
b) Nature of the transaction Exercise of an option
--------------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.40 per
share 3,497
GBP7.20 per
share 141,667
----------
--------------------------------------- ----------------------------------
d) Aggregated Information
* Aggregated volume 145,164
GBP7.0265 per share
* Price
--------------------------------------- ----------------------------------
e) Date of the transaction 2020-01-24
--------------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange
--------------------------------------- ----------------------------------
5 Securities
-------------------------------------------------------------------------
(a) Type and class of securities Fully paid ordinary shares
of 40p each
ISIN number GB00B6TKHP66
SEDOL number B6TKHP6
--------------------------------------- --------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Paul Lynam
--------------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Director (PDMR)
--------------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------------- ----------------------------------
3 Details of the issuer
---------------------------------------------------------------------------
a) Name Secure Trust Bank PLC
--------------------------------------- ----------------------------------
b) LEI 213800CXIBLC2TMIGI76
--------------------------------------- ----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description of the financial Ordinary shares of 40p each
instrument, type of instrument in Secure Trust Bank PLC
Identification code ISIN number GB00B6TKHP66
SEDOL number B6TKHP6
--------------------------------------- ----------------------------------
b) Nature of the transaction Sale of shares to meet exercise
price and tax and national
insurance
--------------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP15.50 103,680
----------
--------------------------------------- ----------------------------------
d) Aggregated Information
* Aggregated volume 103,680
GBP15.50 per share
* Price
--------------------------------------- ----------------------------------
e) Date of the transaction 2020-01-24
--------------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange
--------------------------------------- ----------------------------------
5 Securities
-------------------------------------------------------------------------
(a) Type and class of securities Fully paid ordinary shares
of 40p each
ISIN number GB00B6TKHP66
SEDOL number B6TKHP6
--------------------------------------- --------------------------------
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Neeraj Kapur, Chief Financial Officer
Mark Stevens, Company Secretary
Tel: 0121 693 9100
Stifel Nicolaus Europe Limited (Joint Broker)
Stewart Wallace
Tel: 020 7710 7600
Canaccord Genuity Limited (Joint Broker)
David Tyrrell
Tel: 020 7523 8000
Tulchan Communications
Tom Murray/Sheebani Chothani
Tel: 020 7353 4200
About the Company:
Secure Trust Bank is an established, well--funded and
capitalised UK retail bank with a 67 year trading track record.
Secure Trust Bank operates principally from its head office in
Solihull, West Midlands, and had 956 employees (full-- time
equivalent) as at 30 June 2019. The Group's diversified lending
portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset
Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance,
Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers
totalled GBP2,278.3 million, customer deposits totalled GBP2,001.5
million and the Group's total customer base was well over 1.4
million.
Secure Trust Bank PLC is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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