Purchase of shares by Employee Benefit Trust

RNS Number : 8805F

Secure Trust Bank PLC

09 November 2022

 

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

9 November 2022

Secure Trust Bank PLC ('Secure Trust' or the 'Company')

Purchase of shares by Employee Benefit Trust

Secure Trust announces that Ocorian Trustees (Jersey) Limited (the 'Trustee'), which administers the Company's Employee Benefit Trust (the 'Trust'), has made market purchases of ordinary shares in the Company for the benefit of the Trust up to the value of £250,000 (the 'Market Purchases').

The Market Purchases will be used to help meet future obligations arising under the Company's various share schemes and share plans, some of which will include share awards that Executive Directors and PDMRs are the recipients of.  The Market Purchases were subject to the Trustee's absolute discretion as to the purchase price paid but within pre-agreed parameters set by the Company.

The Market Purchases have been funded by the Company by way of a loan.

Enquiries:

Secure Trust Bank PLC

David McCreadie, Chief Executive Officer

Mark Stevens, Company Secretary

Tel: [phone]

About the Company:

Secure Trust Bank is an established, well‐funded and capitalised UK retail bank with a 70 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had 931 employees (full‐ time equivalent) as at 30 June 2022. 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.

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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