TIDMPCF

RNS Number : 7689K

PCF Group PLC

12 July 2017

12 July 2017

PCF Group plc

("PCF", the "Company" or the "Group")

Directorate Change

PCF, the AIM-quoted specialist bank, announces that Anthony Nelson is stepping down today as a non-executive director of the Company, upon the appointment of Mr David Titmuss also announced today.

Mr Nelson was a founding director and has been integral in the Company's development. He has held the positions of Chief Executive and Chairman during his time with the Company and thus has provided much of the foundation for its success. Mr Nelson believes that it is the appropriate time for him to retire and the Board would like to place on record its appreciation of the contribution he has made to the Group over many years.

Tim Franklin, Chairman, commented: "Tony has been an invaluable member of the Board during his tenure, undertaking a variety of senior roles in the company as both an executive and non-executive. He has been unstinting in sharing his vast experience of the business and the sector. On behalf of the board, I would like to thank Tony for his many years of distinguished service and wish him and his family the very best for the future."

- end -

For further information, please contact:

 
 PCF Group                                Tel: +44 (0) 
  Scott Maybury, Chief Executive           20 7222 2426 
  Officer 
  Robert Murray, Managing Director 
  David Bull, Finance Director 
 Tavistock Communications                 Tel: +44 (0) 
  Jos Simson / Niall Walsh                 20 7920 3150 
 Panmure Gordon (UK) Limited              Tel: +44 (0) 
  Atholl Tweedie / Adam James              20 7886 2500 
  - Corporate Finance 
  Charles Leigh-Pemberton - Corporate 
  Broking 
 Stockdale Securities                     Tel: +44 (0) 
  Robert Finlay / Richard Johnson          20 7601 6100 
  - Corporate Finance 
  Henry Willcocks - Corporate 
  Broking

About PCF Group plc (www.pcf.bank)

Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. With the advent of the Bank the Group now has the scale to increase its lending portfolio size significantly, with target portfolio sizes of GBP350m in 2020 and GBP750m in 2022. The Group will retain its focus on portfolio quality, and will now have the capacity to lend to increasingly prime segments of the finance market.

PCF Bank will offer retail savings products for individuals and will then deploy those funds through its two lending 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 track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technologically advanced platform, PCF will provide both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

July 12, 2017 02:01 ET (06:01 GMT)

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