PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
26 April 2022
For immediate release
SECURE TRUST BANK PLC
Exercise of Options, Issue of Equity
Secure Trust Bank PLC (the "Company") announces that on 26 April 2022 the following individuals, each PDMRs of the Company, as per the below, exercised their respective options over shares under the 2017 Long Term Incentive Scheme ("LTIP") at an exercise price of 40 pence over a total of 6,498 ordinary shares of 40 pence each ("Ordinary Shares"):
| Date | Participants. | Number of shares | Option Price |
| 26 April 2022 | Jon Bowers | 2,595 | 40p per share |
| 26 April 2022 | David Nield | 3,903 | 40p per share |
Mr Bowers has sold all of the shares arising from the exercise of his LTIP option.
The Company also announces that the following individuals, each PDMRs of the Company, as per the below, exercised their respective options over shares under the 2017 Deferred Bonus Scheme ("DBP") at an exercise price of 40 pence over a total of 3,903 ordinary shares of 40 pence each ("Ordinary Shares"):
| Date | Participants. | Number of shares | Option Price |
| 25 April 2022 | Chris Harper | 3,490 | 40p per share |
| 25 April 2022 | David Nield | 413 | 40p per share |
Mr Nield has elected to sell sufficient shares to cover his tax, national insurance liability and associated costs arising from the exercise of the LTIP and DBP options. As a consequence, Mr Nield has retained 2,330 shares in total.
Mr Harper has elected to sell sufficient shares to cover his tax, national insurance liability and associated costs and as a consequence, Mr Harper has retained 1,955 shares.
A further 20 individuals, not PDMRs of the Company, have also elected to exercise options over shares, resulting in a total of 21,687 new shares in the Company being issued and allotted, including the above. The new Ordinary Shares were allotted from the Company's Block Listing authority. The shares will rank pari passu with the existing issued shares of the Company
Following Admission, the Company has a total of 18,674,776 Ordinary Shares in issue each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. This figure of 18,674,776 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 | Mr Jon Bowers | ||||||||
| 2 | Reason for the notification | |||||||||
| a) | Position/status | 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 instrument, type of instrument Identification code | Ordinary shares of 40p each in Secure Trust Bank PLC ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
| b) | Nature of the transaction | Exercise and sale of an option | ||||||||
| c) | Price(s) and volume(s) |
| ||||||||
| d) | Aggregated Information - Aggregated volume - Price |
5190 £5.90 per share | ||||||||
| e) | Date of the transaction | 2022-04-26 | ||||||||
| 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 | Mr David Nield | ||||||||||
| 2 | Reason for the notification | |||||||||||
| a) | Position/status | 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 instrument, type of instrument Identification code | Ordinary shares of 40p each in Secure Trust Bank PLC ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||||
| b) | Nature of the transaction | Exercise of an option and partial sale of shares to meet tax and other associated costs | ||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||
| d) | Aggregated Information - Aggregated volume - Price |
6302 £3.703 per share | ||||||||||
| e) | Date of the transaction | 2022-04-26 | ||||||||||
| 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 | Mr Christopher Harper | ||||||||
| 2 | Reason for the notification | |||||||||
| a) | Position/status | 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 instrument, type of instrument Identification code | Ordinary shares of 40p each in Secure Trust Bank PLC ISIN number GB00B6TKHP66 SEDOL number B6TKHP6 | ||||||||
| b) | Nature of the transaction | Exercise of an option and partial sale of shares to meet tax and other associated costs | ||||||||
| c) | Price(s) and volume(s) |
| ||||||||
| d) | Aggregated Information - Aggregated volume - Price |
5,025 £3.76 per share | ||||||||
| e) | Date of the transaction | 2022-04-26 | ||||||||
| 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
Mark Stevens, Company Secretary
Tel: 0121 693 9100
About the Company:
Secure Trust Bank is an established, well‐funded and capitalised UK retail bank with a 69 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had an average of 973 employees (full‐ time equivalent) during 2021. The Group's diversified lending portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Vehicle Finance and Retail Finance divisions.
As at 31 December 2021 the Group's loans and advances to customers totalled £2,531.9 million, customer deposits totalled £2,103.2 million and the Group's total customer base was over 1.5 million customers. As these figures are as at 31 December 2021, they include 212 employees, £79.6 million in loans and advances to customers, and approximately £0.6 million customers which relate to Debt Managers (Services) Ltd (DMS). As announced, DMS agreed to sell its loan portfolio and expects, in the second half of 2022, to migrate its customers and transfer its employees to the purchaser of the portfolio.
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.
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