PCF Group PLC Resignation of Chief Executive Officer (4721Z)
May 21 2021 - 6:33AM
UK Regulatory
TIDMPCF
RNS Number : 4721Z
PCF Group PLC
21 May 2021
21 May 2021
PCF Group plc
("PCF", the "Bank" or the "Group")
Resignation of Chief Executive Officer
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018
PCF Group plc announces that Scott Maybury has informed the
Board of his intention to step down from his position as Chief
Executive Officer and resign as a Director of the Group with
immediate effect.
Chief Operating Officer Garry Stran will assume the role of
Chief Executive Officer on an interim basis, and subject to
regulatory approval, until such time as a permament Chief Executive
Officer is appointed. The Group will provide an update on that
process as and when appropriate.
Tim Franklin, Chairman of PCF, said: "The Board and I would like
to thank Scott for his significant contribution to PCF throughout
his 26 years with the Group and wish him every success in the
future."
end
For further information, please visit https://pcf.bank/ or
contact:
PCF Group Tel: +44 (0) 20 7222
Garry Stran, Interim Chief Executive 2426
Officer
Caroline Richardson, Chief Financial
Officer
Tavistock Communications Tel: +44 (0) 20 7920
Simon Hudson / Tim Pearson / Jos Simson 3150
Peel Hunt (Nominated Adviser and Broker) Tel: +44 (0) 20 7418
Andrew Buchanan / James Britton / Rishi 8900
Shah /
Duncan Littlejohns
Shore Capital (Joint Broker) Tel: +44 (0) 20 7408
Henry Willcocks / Guy Wiehahn 4080
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. Since commencing operations
as a bank in 2017, the Group has increased its lending portfolio
from GBP140 million to over GBP430 million. The Group continues to
focus on portfolio quality and lending to the prime segments of its
existing markets. The Group will continue to identify opportunities
to diversify its lending products and asset classes by setting up
new organic operations or through acquistion.
PCF Bank currently offers retail savings products for
individuals and then deploys those funds through its four lending
divisions:
-- Business asset finance which provides finance for vehicles, plant and equipment to SMEs;
-- Consumer motor finance which provides finance for motor vehicles to consumers;
-- Azule which provides finance to the broadcast and media industry; and
-- Property bridging finance which provides loans to companies
and sole traders investing in residential and commercial
property.
The Group has a track record of profitability and sustainability
through an efficient and scalable business model. Utilising its
technologically advanced platform, PCF Bank provides both
depositors and borrowers with a high level of service and a
straightforward, simple range of products tailored to suit their
needs.
Recently recorded video profiles of PCF's Property Bridging
Finance, Azule Broadcast Equipment Finance, and Savings divisions
are available at the Company's profile page on the London Stock
Exchange website:
https://profile.lsegissuerservices.com/PCFGroup/overview.
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END
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