Private & Commercial Fin Group Plc Additional Listing and PDMR Dealings (7764L)
October 05 2016 - 6:21AM
UK Regulatory
TIDMPCF TIDMTTM
RNS Number : 7764L
Private & Commercial Fin Group Plc
05 October 2016
Private & Commercial Finance Group plc
("PCFG" or the "Company")
Conversion of Loan Notes and PDMR Dealings
Private & Commercial Finance Group plc ("PCFG" or the
"Company") announces that the Company has received conversion
notices for an aggregate of 934,734 GBP1 nominal 6% Convertible
Unsecured Loan Notes 2016 ("2016 CULS"). The 2016 CULS have a
conversion price of 8.5 pence per share and therefore the above
conversion will result in the issue of 10,996,859 new ordinary
shares of 5p each in the Company (the "New Shares").
Application has been made for the New Shares to be admitted to
trading on AIM and it is expected that admission will take place on
or around 10 October 2016.
Following the admission of the New Shares to trading on AIM,
there will be 170,124,102 ordinary shares of 5p each ("Ordinary
Shares").
The following directors of the Company held 2016 CULS and, as a
result of exercising their option to convert them into Ordinary
Shares, have increased their shareholdings in the Company as
follows:
Director 2016 Existing New Shares Resultant % of
CULS holding issued holding issued
of Ordinary on conversion of Ordinary share
Shares of 2016 Shares capital,
CULS as enlarged
by the
New Shares
--------------- ------- ------------- --------------- ------------- -------------
David Anthony 20,075 936,275 236,176 1,172,451 0.7%
--------------- ------- ------------- --------------- ------------- -------------
Scott Maybury 10,000 1,600,006 117,647 1,717,653 1.0%
--------------- ------- ------------- --------------- ------------- -------------
David Morgan 10,000 Nil 117,647 117,647 0.1%
--------------- ------- ------------- --------------- ------------- -------------
The above figure of 170,124,102 ordinary shares of 5p each may
be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's DTR rules.
The remaining 21,597 of GBP1 nominal 2016 CULS matured on 30(th)
September 2016 and will be redeemed to their respective loan note
holders. The 2016 CULS trading line was cancelled at close of
business on 30 September 2016 and the Company has notified the FCA
to remove the 2016 CULS line from the Official List.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated with them.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------------
a) Names David Anthony - Chairman
Scott Maybury - Chief Executive
David Morgan - Non-executive
Director
--- ------------------------ -------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------------
a) Position/status See 1(a) above for positions
- all classified as PDMRs of
PCFG
--- ------------------------ -------------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------ -------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------
a) Name Private & Commercial Finance
Group plc
--- ------------------------ -------------------------------------
b) LEI
--- ------------------------ -------------------------------------
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 Ordinary shares of 5 pence each
the financial
instrument, type
of instrument
--- ------------------------ -------------------------------------
b) Identification GB0004189378
code
--- ------------------------ -------------------------------------
c) Nature of the In each case, the issue of Ordinary
transaction Shares upon conversion of GBP1
nominal 6% Convertible Unsecured
Loan Notes 2016
--- ------------------------ -------------------------------------
d) Price(s) and Price - conversion price of
volume(s) 8.5 pence per Ordinary Share
Volume(s)
David Anthony - 236,176 Ordinary
Shares upon conversion of GBP20,075
2016 CULS
Scott Maybury - 117,647 Ordinary
Shares upon conversion of GBP10,000
2016 CULS
David Morgan - 117,647 Ordinary
Shares upon conversion of GBP10,000
2016 CULS
--- ------------------------ -------------------------------------
d) Aggregated information n/a
- Aggregated
volume
- Price
--- ------------------------ -------------------------------------
e) Date of the transaction 04 October 2016
--- ------------------------ -------------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------ -------------------------------------
Name of authorised official of issuer responsible for making
notification:
Robert Murray
Company Secretary to Private & Commercial Finance Group
plc
For further information, please contact:
Private & Commercial Finance Tel: +44 (0) 20 7222 2426
Group
Scott Maybury, Chief Executive
Robert Murray, Managing
Director
David Bull, Finance Director
Tavistock Communications Tel: +44 (0) 20 7920 3150
Jos Simson / Niall Walsh
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500
Adam James / Peter Steel
/ Atholl Tweedie
Stockdale Securities Tel: +44 (0) 20 7601 6100
Henry Willcocks
About Private & Commercial Finance Group plc
Established in 1994, Private & Commercial Finance Group plc
is an AIM-quoted finance house which has two main operating
divisions:
-- Consumer Finance which provides finance for motor vehicles to consumers; and
-- Business Finance which provides finance for vehicles, plant and equipment to SMEs.
The Group has a highly efficient and scalable business model,
utilising its specially developed internet-based proposal system to
service national networks of brokers and suppliers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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