TIDMTIME

RNS Number : 0098A

Time Finance PLC

27 May 2021

27 May 2021

Time Finance plc

("Time Finance", the "Group" or the "Company")

Exercise of Employee Options and Director/PDMR Shareholdings

Time Finance plc, the AIM listed independent specialist finance provider, announces that as a result of exercises of nil cost share options ("Options") under the Company's Unapproved Share Option Scheme (the "Scheme") on 26 May 2021, the Company has made application for a total of 2,138,500 new ordinary shares in the Company (the "New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari-passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on 2 June 2021 ("Admission").

Of the New Ordinary Shares, an aggregate of 1,236,508 New Ordinary Shares have been sold at a price of 31.65 pence per New Ordinary Shares to meet tax liabilities and national insurance contributions arising from the exercises of Options, with the balance of the New Ordinary Shares being retained by the participants in accordance with the terms of the Scheme.

Following admission of the New Ordinary Shares to trading on AIM, the Group's issued ordinary share capital will comprise 92,512,704 ordinary shares, none of which are held in treasury. Therefore, the total number of ordinary shares with voting rights in the Company following admission will be 92,512,704. This figure 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 Group under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 
 Participant         Position    Options exercised     New Ordinary 
                                   / New Ordinary     Shares disposed 
                                       Shares               of 
 James Roberts          CFO           864,500            525,616 
                    ----------  ------------------  ----------------- 
 Jennifer Bodey        PDMR           217,000            121,086 
                    ----------  ------------------  ----------------- 
 Lorraine Neyland      PDMR           217,000            121,086 
                    ----------  ------------------  ----------------- 
 Holly Mapstone        PDMR           168,000             93,744 
                    ----------  ------------------  ----------------- 
 Alun Winter           PDMR           168,000             93,744 
                    ----------  ------------------  ----------------- 
 Phil Chesham          PDMR           168,000             93,744 
                    ----------  ------------------  ----------------- 
 Tansy Cunningham      PDMR           168,000             93,744 
                    ----------  ------------------  ----------------- 
 David Jones           PDMR           168,000             93,744 
                    ----------  ------------------  ----------------- 
 

As a result of the exercise of Options and taxation related disposal of New Ordinary Shares, James Roberts, the Company's Chief Financial Officer, is now interested in 520,551 ordinary shares, representing 0.5% of the Company's issued ordinary share capital.

The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide 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           Ordinary Shares of 10p each 
       financial instrument, 
       type of instrument 
 
       Identification code 
     ---------------------------  -------------------------------------- 
 b)   Nature of the transaction    Exercise of nil cost share options 
                                    under Unapproved Share Option Scheme 
     ---------------------------  -------------------------------------- 
 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      26 May 2021 
     ---------------------------  -------------------------------------- 
 f)   Place of the transaction     Outside of a trading venue 
     ---------------------------  -------------------------------------- 
 
 
 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          Ordinary Shares of 10p each 
       financial instrument, 
       type of instrument 
 
       Identification code 
     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Sale of ordinary shares of 10p each 
                                   pursuant to exercises of nil cost 
                                   share options under Unapproved Share 
                                   Option Scheme 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)               Volume(s) 
                                          1. 31.65 pence         1. 525,616 
                                           2. 31.65 pence         2. 121,086 
                                           3. 31.65 pence         3. 121,086 
                                           4. 31.65 pence         4. 93,744 
                                           5. 31.65 pence         5. 93,744 
                                           6. 31.65 pence         6. 93,744 
                                           7. 31.65 pence         7. 93,744 
                                           8. 31.65 pence         8. 93,744 
                                                           ----------------- 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          n/a - see table above 
 
       - Price 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     26 May 2021 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    AIMX 
     --------------------------  ------------------------------------------- 
 

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