Business
Successful Placing to Underpi
Successful Placing to Underpi.
About this update from Time Finance Plc
[{"type":"text","content":"\n RNS Number : 0210B 1PM PLC 11 August 2008 \n \nOPM.L\n\n1 pm plc\n\n('1pm' or the 'Company')\n\nSuccessful Placing to Underpin Business Growth\n\n1pm, a provider of asset finance facilities to the small business community, announces that it has completed a placing of 328,250,000 fully paid ordinary shares of £0.0006818 each ('Placing Shares') at a price of 0.2 pence per Placing Share ('Placing Price') raising £656,500 before costs and expenses ('Placing').\n\nThe Placing Shares will rank pari passu with all existing fully paid Ordinary Shares of £0.0006818 each in the Company ('Ordinary Shares'). Application has been made for the Placing Shares to be admitted to trading on AIM with trading expected to commence on 14 August 2008. The funds raised under the Placing will increase the Company's funding facilities which will enable the business to increase its market share, build its client base and accelerate growth.\n\nMike Johnson, 1pm's Chairman commented:-\n\n'A successful Placing in the current markets underpins the strength of 1pm's business proposition. We have successfully turned the business around under new management sanitized the business model and returned it to profitability with excellent future prospects. Access to new funds will now enable the group to scale up its business and continue its growth momentum as a small business asset finance provider. I look forward to reporting further progress in due course.' \nThe following table sets out details of the placees who purchased Placing Shares, at the Placing Price, and who will have an interest in the Ordinary Shares which must be disclosed under the Financial Services Authority's Disclosure and Transparency Rules.\n \n\n\n\n\nName\n\n\nNumber of Ordinary Shares held prior to the Placing\n\n\nPercentage of Ordinary Shares held prior to the Placing (%)\n\n\nNumber of Placing Shares purchased \n\n\nNumber of Ordinary Shares held following the Placing\n\n\nPercentage of Ordinary Shares held following the Placing (%)\n\n\n\n\nHoodless Brennan Plc\n\n\n31,282\n\n\n0.007\n\n\n100,000,000\n\n\n100,031,282\n\n\n13.05\n\n\n\n\nWills & Co. Stockbrokers Limited\n\n\n2\n\n\n0\n\n\n50,000,000\n\n\n50,000,002\n\n\n6....