PCF Group PLC Issue of Equity (3306V)
05 Abril 2019 - 7:44AM
UK Regulatory
TIDMPCF
RNS Number : 3306V
PCF Group PLC
05 April 2019
5 April 2019
PCF Group plc
("PCFG", the "Company" or the "Group")
Scrip Dividend Elections
Issue of Equity
The Company announces that, pursuant to its Scrip Dividend
Scheme, it has received elections to receive new ordinary shares in
lieu of cash in respect of the final dividend payment due on 12(th)
April 2019. Election notices have been received from the holders of
1,806,638 ordinary shares of 5p each in the Company ("Ordinary
Shares"), in aggregate, representing approximately 0.72% of the
Ordinary Shares in issue on the dividend record date, 22(nd) March
2019. Accordingly, 15,703 new Ordinary Shares ("New Shares") will
be issued in satisfaction of such elections at an equivalent price
of 34.50p per share.
Application has been made for the New Shares to be admitted to
trading on AIM and it is expected that admission will take place at
8.00 a.m. on 12(th) April 2019. The New Shares will rank pari passu
with the existing Ordinary Shares.
Following admission of the New Shares to trading on AIM, the
Company will have 250,196,637 Ordinary Shares in issue, none of
which are held in treasury.
The above figure of 250,196,637 may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure, Guidance and Transparency Rules.
- end -
For further information, please contact:
PCF Group plc Tel: +44 (0) 20 7222
Scott Maybury, Chief Executive Officer 2426
Robert Murray, Managing Director
David Bull, Finance Director
Tavistock Communications Tel: +44 (0) 20 7920
Jos Simson / Simon Hudson / Edward Lee 3150
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886
Atholl Tweedie - Corporate Finance 2500
Charles Leigh-Pemberton - Corporate Broking
Stockdale Securities Tel: +44 (0) 20 7601
Robert Finlay / Richard Johnson - Corporate 6100
Finance
Henry Willcocks - Corporate Broking
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-listed parent of
specialist bank, PCF Bank Limited. Since becoming a bank in 2016,
the Group has the capability to increase its lending portfolio
significantly, with an initial portfolio target of GBP350 million,
growing to GBP750 million by September 2022. The Group will retain
its focus on portfolio quality, lending increasingly to the prime
segment of its existing finance markets. The Group has also
recently diversified its lending products and asset classes through
acquisition and by setting up new organic operations.
PCF Bank currently offers retail savings products for
individuals and then deploys those funds through its four lending
divisions:
-- Business Finance which provides finance for vehicles, plant and equipment to SMEs;
-- Consumer Finance which provides finance for motor vehicles to consumers;
-- Azule Limited which provides finance to the broadcast and media industry; and
-- Bridging Property Finance which provides loans to companies
and sole traders investing in residential property
The Group has a track record of strong financial performance and
an efficient and scalable business model, with significant room to
grow. Utilising its technology platform, the Bank provides both
depositors and borrowers with a high level of service and a
straightforward, simple range of products tailored to suit their
needs.
For media enquiries please contact media@pcf.bank
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END
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