Business
Exercise of Options & Director/PDMR Shareholding
Exercise of Options & Director/PDMR Shareholding.
About this update from Time Finance Plc
[{"type":"text","content":"\n\n21 November 2023\n\n \nTime Finance plc\n(\"Time Finance\", the \"Group\" or the \"Company\")\n \nExercise of Share Options and Director/PDMR Shareholdings\n \nTime Finance plc, the AIM listed independent specialist finance provider, announces the exercise of share options (\"Options\") under the Company's Unapproved Share Option Schemes (the \"Schemes\").\n \nThe Option exercises, of nil cost Options under the Schemes by certain of the Company's directors and PDMRs, have been satisfied through the allocation of existing ordinary shares held by the Time Finance Employee Benefit Trust (\"EBT\") and, as such, no new ordinary shares have been issued in connection with the Option exercises. \n \nTherefore, the total number of ordinary shares with voting rights in the Company following admission remains at 92,512,704. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Group under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules,\n \nOf the aggregate of 690,166 ordinary shares allocated from the EBT in satisfying the Option exercises, 147,604 ordinary shares have been sold by participants at a price of 32.50 pence per ordinary share to meet the tax liabilities arising from the exercises of Options. The balance of ordinary shares from the exercises have been retained by the participants in accordance with the terms of the Schemes.\n \n\n\n\n\nParticipant\n\n\nPosition\n\n\nOrdinary Shares from\nOption exercises\n\n\nOrdinary\nShares disposed of\n\n\n\n\nEd Rimmer\n\n\nCEO\n\n\n411,666\n\n\nNil\n\n\n\n\nJames Roberts\n\n\nCFO\n\n\n 123,500\n\n\n65,454\n\n\n\n\nLorraine Neyland\n\n\nPDMR\n\n\n 31,000\n\n\n16,430\n\n\n\n\nPhil Chesham\n\n\nPDMR\n\n\n 24,000\n\n\n12,720\n\n\n\n\nSteve Nichols\n\n\nPDMR\n\n\n100,000\n\n\n53,000\n\n\n\n\n \nAs a result of these exercises of Options and taxation related disposal of ordinary shares, Ed Rimmer, the Company's Chief Executive Officer, and James Roberts, the Company's Chief Financial Officer, are now interested in 508,164 and 615,006 ordinary shares, representing 0.6% and 0.7% of the Company's issued ordinary share capital, respectively.\n \nThe notifications...