21 May 2021
Time Finance plc
("Time Finance", the "Group" or the "Company")
Unapproved Share Option Scheme - Vesting of Awards
Director/PDMR Shareholding
Time Finance plc, the AIM listed independent specialist finance provider, announces that following the achievement of share price performance criteria in relation to the Company's Unapproved Share Option Scheme (the "Scheme") a total of 2,138,500 previously awarded nil cost options over ordinary shares of 10 pence each in the capital of the Company have today vested (the "Vested Options"). The terms of the Scheme were previously announced by the Group on 29 October 2020.
The Vested Options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to an expiry date of 21 May 2022 being 12 months from today's vesting date.
|
Position |
Number of Vested Options |
|
|
James Roberts |
CFO |
864,500 |
|
Jennifer Bodey |
PDMR |
217,000 |
|
Lorraine Neyland |
PDMR |
217,000 |
|
Holly Mapstone |
PDMR |
168,000 |
|
Alun Winter |
PDMR |
168,000 |
|
Phil Chesham |
PDMR |
168,000 |
|
Tansy Cunningham |
PDMR |
168,000 |
|
David Jones |
PDMR |
168,000 |
A further 916,500 share options have been granted under the Scheme but remain unvested due to the time-based element of their criteria. Subject to continued employment this would see a third vesting in October 2021, a further third in October 2022 and a final third in October 2023 proportionate to the allocation of those that have vested today.
The notification below, provided in accordance with the requirements of the UK Market Abuse Regulation, provides further details.
|
For further information, please contact: |
|
|
Time Finance plc |
|
|
Ed Rimmer, Interim Chief Executive Officer |
01225 474230 |
|
James Roberts, Chief Financial Officer |
01225 474230 |
|
Cenkos Securities plc (NOMAD) |
|
|
Max Hartley / Ben Jeynes (Nomad) Julian Morse (Sales) |
0207 397 8900 |
|
Walbrook PR |
0207 933 8780 |
|
Paul Vann / Nicholas Johnson |
07768 807631 |
About Time Finance:
Time Finance's strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses and arranging vehicle and property-backed finance for consumers. The multi-product range for SMEs includes asset, vehicle, loan and invoice finance facilities. The Group operates a "hybrid" lending and broking model enabling it to optimize business levels through market and economic cycles.
More information is available on the Company website www.timefinance.com
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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|
a) |
Name |
1. James Roberts 2. Jennifer Bodey 3. Lorraine Neyland 4. Holly Mapstone 5. Alun Winter 6. Phil Chesham 7. Tansy Cunningham 8. David Jones |
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|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
1. Chief Finance Officer 2. PDMR 3. PDMR 4. PDMR 5. PDMR 6. PDMR 7. PDMR 8. PDMR |
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|
b) |
Initial notification /Amendment |
Initial notification |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
1pm plc |
||||
|
b) |
LEI |
213800VG3QJGBP2MKR86 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument Identification code |
Share Options over Ordinary Shares of 10p each |
||||
|
b) |
Nature of the transaction |
Vesting of Unapproved Share Option Scheme share options |
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|
c) |
Price(s) and volume(s) |
|
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|
d) |
Aggregated information - Aggregated volume - Price |
n/a - see table above |
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|
e) |
Date of the transaction |
20 May 2021 |
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|
f) |
Place of the transaction |
Outside of a trading venue |
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