Time Finance PLC Unapproved Share Option Scheme -- Vesting of Awards (4122Z)
May 21 2021 - 1:00AM
UK Regulatory
TIDMTIME
RNS Number : 4122Z
Time Finance PLC
21 May 2021
21 May 2021
Time Finance plc
("Time Finance", the "Group" or the "Company")
Unapproved Share Option Scheme - Vesting of Awards
Director/PDMR Shareholding
Time Finance plc, the AIM listed independent specialist finance
provider, announces that following the achievement of share price
performance criteria in relation to the Company's Unapproved Share
Option Scheme (the "Scheme") a total of 2,138,500 previously
awarded nil cost options over ordinary shares of 10 pence each in
the capital of the Company have today vested (the "Vested
Options"). The terms of the Scheme were previously announced by the
Group on 29 October 2020.
The Vested Options are all held by the below Directors/PDMRs of
the Company and may be exercised at any time prior to an expiry
date of 21 May 2022 being 12 months from today's vesting date.
Position Number of Vested Options
James Roberts CFO 864,500
---------- -------------------------
Jennifer Bodey PDMR 217,000
---------- -------------------------
Lorraine Neyland PDMR 217,000
---------- -------------------------
Holly Mapstone PDMR 168,000
---------- -------------------------
Alun Winter PDMR 168,000
---------- -------------------------
Phil Chesham PDMR 168,000
---------- -------------------------
Tansy Cunningham PDMR 168,000
---------- -------------------------
David Jones PDMR 168,000
---------- -------------------------
A further 916,500 share options have been granted under the
Scheme but remain unvested due to the time-based element of their
criteria. Subject to continued employment this would see a third
vesting in October 2021, a further third in October 2022 and a
final third in October 2023 proportionate to the allocation of
those that have vested today.
The notification below, provided in accordance with the
requirements of the UK Market Abuse Regulation, provides further
details.
For further information,
please contact:
Time Finance plc
Ed Rimmer, Interim Chief
Executive Officer 01225 474230
James Roberts, Chief Financial
Officer 01225 474230
Cenkos Securities plc (NOMAD)
Max Hartley / Ben Jeynes
(Nomad)
Julian Morse (Sales) 0207 397 8900
Walbrook PR 0207 933 8780
Paul Vann / Nicholas Johnson 07768 807631
paul.vann@walbrookpr.com
About Time Finance:
Time Finance's strategy is to focus on providing or arranging
the finance UK SMEs require to fund their businesses and arranging
vehicle and property-backed finance for consumers. The
multi-product range for SMEs includes asset, vehicle, loan and
invoice finance facilities. The Group operates a "hybrid" lending
and broking model enabling it to optimize business levels through
market and economic cycles.
More information is available on the Company website
www.timefinance.com
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. James Roberts
2. Jennifer Bodey
3. Lorraine Neyland
4. Holly Mapstone
5. Alun Winter
6. Phil Chesham
7. Tansy Cunningham
8. David Jones
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status 1. Chief Finance Officer
2. PDMR
3. PDMR
4. PDMR
5. PDMR
6. PDMR
7. PDMR
8. PDMR
---------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name 1pm plc
---------------------------- -------------------------------------
b) LEI 213800VG3QJGBP2MKR86
---------------------------- -------------------------------------
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 Share Options over Ordinary Shares
financial instrument, of 10p each
type of instrument
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction Vesting of Unapproved Share Option
Scheme share options
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil pence 1. 864,500
2. Nil pence 2. 217,000
3. Nil pence 3. 217,000
4. Nil pence 4. 168,000
5. Nil pence 5. 168,000
6. Nil pence 6. 168,000
7. Nil pence 7. 168,000
8. Nil pence 8. 168,000
-----------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume n/a - see table above
- Price
---------------------------- -------------------------------------
e) Date of the transaction 20 May 2021
---------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------- -------------------------------------
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