Business
Result of AGM & Allotment of New Shares
Result of AGM & Allotment of New Shares.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 3297L 1PM PLC 30 September 2016 \n\n30 September 2016\n \n \n \n1pm plc\n(the \"Group\" or the \"Company\")\n \n \nRESULT OF ANNUAL GENERAL MEETING\nAND \nALLOTMENT OF SHARES\n \n \n1pm plc (AIM: OPM), the AIM listed specialist independent provider of finance facilities to the SME sector, announces that, at the Annual General Meeting of the Company held today in Bath, all resolutions put to shareholders were duly passed.\n \nIn addition, the Company also announces that a total of 1,960,270 new Ordinary Shares of 10p each (the \"New Ordinary Shares\") have been allotted pursuant to the earn-out arrangements relating to the acquisition of Academy Leasing Limited completed on 25 August 2015. Of these, 1,469,501 New Ordinary Shares have been allotted to Michael Nolan and 490,769 New Ordinary Shares have been allotted to Hazel Jacques. These New Ordinary Shares satisfy the additional consideration payable following the achievement of new business origination targets for the financial year ended 31 May 2016. Application for admission to trading on AIM of the New Ordinary Shares will be made and admission is expected to take place on 6 October 2016. The new Ordinary Shares will be issued on admission and will rank pari passu with the Ordinary Shares then in issue. \n \nIn accordance with the provisions of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following this issue of New Ordinary Shares, its issued share capital will comprise 54,494,733 Ordinary Shares of 10p each. All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 54,494,733 following Admission.\n \nFollowing the issue, Michael Nolan will hold 4,150,006 Ordinary Shares, representing approximately 7.6 per cent. of the Company's issued share capital and Hazel Jacques will hold 1,385,976 Ordinary Shares, representing approximately 2.5 per cent. of the Company's issued share capital.\n \n \n\n\n\n\n \nFor further information, please contact:\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n1pm plc\n\n\n \n\n\n\n\nIan Smith, Chief Executive Officer\n\n\n01225 474230\n\n\n\n\nHelen Walker, Chief Financial Officer\n\...