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OneSavings NED trims stake

One of the challenger bank's non-executive director has taken some profits from the stock's stellar run
September 24, 2015

OneSavings Bank (OSB) has left many of the other financial stocks trailing in its wake, increasing in value by more than three-quarters since the start of January. So it is of little surprise that directors are looking to take some profits. Earlier this month, non-executive director Stephan Wilcke sold more than two-thirds of his stake for £2.6m.

IC TIP: Buy at 389p

The market, encouraged by the strong organic and acquisitive growth to OSB's loan book, barely paused for thought on news of Mr Wilcke's sell-down. Indeed, the stock has batted off challenges this year from the tax hike for buy-to-let landlords and the profit surcharge for smaller lenders, both contained in the Budget.

These concerns have been swallowed by the wave of demand for lending from buy-to-let landlords and small businesses. Gross new organic lending was up by a fifth in the first half compared with the previous comparable, and the company expects total loan book growth for the full year to be slightly ahead of the 2014 financial year.

Buys
CompanyDirectorDateNo. of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AA Dr M Clarke (cfo)10 Sep 15                1,278 281.5                3,598             788,778 0.130
AA B Mackenzie (ch)10 Sep 15                1,278 281.5                3,598             876,278 0.145
Aberdeen New Dawn Investment Trust D J B Shearer (ch)11 Sep 15              12,500 148.5              18,560              25,000 0.020
Aberdeen New Dawn Investment Trust N George10 Sep 15              10,000 149              14,900              27,500 0.022
Actual Experience R M Young11 Sep 15                3,700 260                9,620                3,700 0.010
Allianz Technology Trust H van der Klugt11 Sep 15                5,000 581.5              29,075                5,000 0.019
Arm S C Pusey10 Sep 15                6,329 948              59,999                6,329 <0.001
Arm A Green10 Sep 15                5,250 953              50,030                5,250 <0.001
Asian Total Return Investment Co C A Keljik OBE10 Sep 15                1,066 186.6                1,989              94,952 0.130
Avanti Communications  A Green16 Sep 15              21,888 218              47,716              21,888 0.015
Balfour Beatty P Harrison (cfo)14 Sep 15                4,664 257              11,986                6,349 0.001
Berkeley Holdings ♥A Myers10 Sep 15                1,350 3457              46,670                2,000 0.001
BG  P W Thomas15 Sep 15                1,235 984.6              12,160              11,132 <0.001
BG  L Haw-Kuang15 Sep 15                1,116 984.6              10,988                7,212 <0.001
BG  M Seligman15 Sep 15                   877 984.6                8,635              23,797 0.001
BG  Vivienne Cox15 Sep 15                   617 984.6                6,075                5,732 <0.001
BG  Baroness Hogg DL15 Sep 15                   451 984.6                4,441              19,323 0.001
BG  M Ferguson15 Sep 15                   226 984.6                2,225                   417 <0.001
BG  Sir David Manning15 Sep 15                   138 984.6                1,359                3,675 <0.001
CLS S A Mortstedt (ch)16 Sep 15                   801 1795              14,378        21,497,056 50.698
Diageo Dr F B Humer (ch)10 Sep 15                   480 1723                8,270              61,470 0.002
Duke Royalty Ltd ΩN A Johnson (ce)10 Sep 15              10,000 70                7,000             410,000 5.375
Elektron Technology C P Welch14 Sep 15             150,000 6.7              10,050             150,000 0.081
F&C Private Equity Trust J C Rafferty15 Sep 15                3,000 227                6,809              35,000 0.049
Fidelity European Values Dr R Niblett10 Sep 15                5,000 170.3                8,516              10,000 0.002
Fidessa  J R Hamer (ch)15 Sep 15                2,000 1802.5              36,050              86,808 0.227
Fidessa  C J F Aspinwall (ce)16 Sep 15                1,000 1794.8              17,948             123,542 0.323
Finsbury Growth & Income Trust ΩS Hayes15 Sep 15              10,000 555              55,500              10,000 0.008
Flowtech Fluidpower ΩB R Brooks (cfo)15 Sep 15              47,200 147              69,384              81,000 0.189
Glencore *I Glasenberg (ce)16 Sep 15      110,109,098 125      137,636,373    1,211,957,850 9.261
GVC K J Alexander (ce)11 Sep 15              61,725 405             249,986             483,798 0.790
GVC L Feldman (ch)11 Sep 15              20,400 405              82,620             165,957 0.271
GVC L Feldman (ch)11 Sep 15              10,482 402.5              42,190             145,557 0.238
International Consolidated AirlinesJ A Lawrence11 Sep 15             110,000 589.4             648,366             326,500 0.016
John MenziesI J G Napier (ch)11 Sep 15                2,405 415.7                9,997              15,360 0.025
Lowland InvestmentP J C Troughton (ch)14 Sep 15                1,102 1378.3              15,188              19,557 0.073
Mothercare M Newton-Jones (ce)16 Sep 15              21,843 227.3              49,652             248,829 0.146
PureTech Health Dr J L Lamattina15 Sep 15              11,000 146.3              16,088          1,452,332 0.612
PureTech Health Dr J L Lamattina11 Sep 15                5,508 145.2                7,996          1,441,332 0.607
Rotork Lucinda Bell15 Sep 15                7,150 211.7              15,135                7,150 0.001
Share ΩR W Stone (ce)16 Sep 15              82,321 31              25,520             170,635 0.119
SSE Katie Bickerstaffe11 Sep 15                1,353 1451.9              19,644                3,658 <0.001
Wm MorrisonT Strain (fd)10 Sep 15              58,453 169.8              99,253              97,794 0.004
WPP L Ruigang16 Sep 15                4,000 1351              54,040                4,000 <0.001

Sells
CompanyDirectorDateNo. of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Bodycote D F Landless (fd)16 Sep 15             125,000 624.8             780,938             125,203 0.065
British LandC Grigg (ce)14 Sep 15              87,592 804.1             704,320          1,857,741 0.181
Consort Medical J Glenn (ce)11 Sep 15                3,234 959.8              31,038             150,278 0.306
Conygar Investment CompanyP A Batchelor (fd)16 Sep 15             300,000 171             513,000             808,001 0.979
Flowtech Fluidpower ♥B R Brooks (cfo)15 Sep 15              47,200 147              69,384              33,800 0.079
Great Portland Estates T A Courtauld (ce)14 Sep 15             145,881 840.2          1,225,692          1,504,151 0.437
Great Portland Estates N Thompson14 Sep 15             116,127 840.2             975,699             784,696 0.228
Great Portland Estates N Sanderson (fd)14 Sep 15              86,551 840.2             727,202             283,182 0.082
Great Portland Estates N Sanderson (fd)14 Sep 15              75,000 837.7             628,275             208,440 0.061
Helical Bar M E Slade (ce)10 Sep 15             492,000 421          2,071,320        12,156,820 10.286
Helical Bar G A Kaye10 Sep 15             355,000 421          1,494,550             691,753 0.585
Helical Bar N G McNair Scott (ch)10 Sep 15             100,000 421             421,000          2,520,941 2.133
Henry BootJ T Sutcliffe (fd)15 Sep 15              28,043 228              63,938             510,445 0.387
Mulberry  R T Mather (fd)14 Sep 15              20,000 900             180,000             119,883 0.200
Onesavings Bank S Wilcke10 Sep 15             699,711 368          2,574,936             300,000 0.123
Share R W Stone (ce)16 Sep 15              82,321 31              25,495              88,314 0.061
Tangent Communications M P Green (ch)10 Sep 15              50,000 2.6                1,313        83,158,190 29.975

*Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust