Business
Director/PDMR Shareholdings: Vesting of Options
Director/PDMR Shareholdings: Vesting of Options.
About this update from Time Finance Plc
[{"type":"text","content":"\n\n3 October 2023\n\n \nTime Finance plc\n(\"Time Finance\", the \"Group\" or the \"Company\")\n \nUnapproved Share Option Scheme - Vesting of Awards\n \nDirector/PDMR Shareholding\n \nTime Finance plc, the AIM listed independent specialist finance provider, announces the vesting of an aggregate of 790,166 historically awarded share options following achievement of time-based performance criteria in relation to the Company's 2020 Unapproved Share Option Scheme (the \"2020 Scheme\") and the achievement of profit-based performance criteria in relation to the Company's 2022 Unapproved Share Option Scheme (the \"2022 Scheme\").\n \nThe terms of the 2020 Scheme and 2022 Scheme were previously announced by the Group on 29 October 2020 and 22 July 2022 respectively. It remains the Board's strong intention that existing ordinary shares held by the Company's Employee Benefit Trust will be utilised to meet any future exercise of these vested options and also of any further 2022 Scheme options that could vest in the future. The vested options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to the exercise expiry date.\n \n\n\n\n\n\n\n\nPosition\n\n\nNumber of Vested Options\n\n\nScheme\n\n\nExercise expiry\n\n\n\n\nEd Rimmer\n\n\nCEO\n\n\n411,666\n\n\n2022 Scheme\n\n\n30 September 2028\n\n\n\n\nSteve Nichols\n\n\nPDMR\n\n\n100,000\n\n\n2022 Scheme\n\n\n30 September 2028\n\n\n\n\nSharon Bryden\n\n\nPDMR\n\n\n100,000\n\n\n2022 Scheme\n\n\n30 September 2028\n\n\n\n\nJames Roberts\n\n\nCFO\n\n\n123,500\n\n\n2020 Scheme\n\n\n30 September 2024\n\n\n\n\nLorraine Neyland\n\n\nPDMR\n\n\n31,000\n\n\n2020 Scheme\n\n\n30 September 2024\n\n\n\n\nPhil Chesham\n\n\nPDMR\n\n\n24,000\n\n\n2020 Scheme\n\n\n30 September 2024\n\n\n\n\n \nThe 2020 Scheme is now complete with no further options under the scheme remaining unvested.\n \nThere remain a further unvested 1,223,333 share options previously granted under the 2022 Scheme. Subject to the recipients' continued employment with the Group and the achievement of stretching profit targets for the next two financial years, the remaini...