Time Finance PLC Director/PDMR Shareholding (7334B)
October 04 2022 - 6:00AM
UK Regulatory
TIDMTIME
RNS Number : 7334B
Time Finance PLC
04 October 2022
4 October 2022
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 time-based
criteria in relation to the Company's Unapproved Share Option
Scheme (the "Scheme"), a total of 202,500 previously awarded nil
cost options over ordinary shares of 10 pence each in the capital
of the Company vested on 3 October 2022 (the "Vested Options").
The terms of the Scheme were previously announced by the Group
on 29 October 2020 and it is intended that existing ordinary shares
held by the Company's Employee Benefit Trust be utilised to meet
any future exercise of these Vested Options and of any further
Scheme options that may vest in the future.
The Vested Options are held by the below Directors/PDMRs of the
Company and may be exercised at any time prior to an expiry date of
30 September 2023.
Position Number of Vested Options
James Roberts CFO 123,500
---------- -------------------------
Lorraine Neyland PDMR 31,000
---------- -------------------------
Alun Winter PDMR 24,000
---------- -------------------------
Phil Chesham PDMR 24,000
---------- -------------------------
A further 202,500 share options previously granted under the
Scheme remain unvested due to the time-based element of their
criteria. Subject to the recipients' continued employment with the
Group, this remaining final tranche of Scheme options would vest in
October 2023.
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, Chief Executive Officer 01225 474230
James Roberts, Chief Financial Officer 01225 474230
Cenkos Securities plc (NOMAD and
Broker)
Ben Jeynes / Max Gould (Corporate
Finance)
Michael Johnson/George Budd (Sales) 0207 397 8900
Walbrook PR 0207 933 8780
Paul Vann / Joe Walker 07768 807631
Timefinance@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 .
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. James Roberts
2. Lorraine Neyland
3. Alun Winter
4. Phil Chesham
---------------------------- -------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status 1. Chief Finance Officer
2. PDMR
3. PDMR
4. PDMR
---------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- -------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Time Finance plc
---------------------------- -------------------------------------
b) LEI 213800VG3QJGBP2MKR86
---------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 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. 123,500
2. Nil pence 2. 31,000
3. Nil pence 3. 24,000
4. Nil pence 4. 24,000
-----------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume n/a - see table above
- Price
---------------------------- -------------------------------------
e) Date of the transaction 3 October 2022
---------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------- -------------------------------------
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