OSB GROUP PLC Plans Redemption of Remaining Securities

OSB GROUP PLC, a financial services company, has announced its intention to redeem the remaining £17,072,000 of its outstanding £150,000,000 6.000% Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (Securities). The redemption is set to take place on 7 October 2026.

According to the terms and conditions of the Securities, the company has elected to redeem all outstanding Securities, a move that aligns with Condition 8(b)(i). This decision was made after obtaining the necessary regulatory approvals, ensuring that the process adheres to all relevant guidelines.

The Securities, which were issued in October 2021, are set to be redeemed at their principal amount, along with accrued but unpaid interest up to, but not including, the Redemption Date. Upon completion of the redemption, the Securities will be cancelled, and the listing on the London Stock Exchange’s International Securities Market will be terminated shortly thereafter.

This action is part of OSB GROUP PLC’s ongoing management of its financial instruments and reflects the company’s commitment to maintaining a robust and well-managed portfolio. The redemption is expected to have no impact on the company’s core operations, which continue to focus on providing specialist lending and retail savings services.

The redemption process is in line with the company’s strategic plans and is designed to streamline its capital structure. OSB GROUP PLC, which began trading as a bank on 1 February 2011 and has since grown through acquisitions and expansions, remains focused on its dual segments: OneSavings Bank and Charter Court Financial Services.

The company’s decision to redeem the Securities is a routine corporate action that does not indicate any significant financial or operational changes. It is part of the ongoing management of the company’s capital structure and is expected to be completed without disruption to its business operations.