PCF Group PLC Capital Subscription update (9597N)
07 Junio 2022 - 1:01AM
UK Regulatory
TIDMPCF
RNS Number : 9597N
PCF Group PLC
07 June 2022
7 June 2022
PCF Group plc
("PCF", the "Bank" or the "Group")
Capital Subscription update
Following the Company's capital subscription announcement on 31
May 2022, the directors of PCF are pleased to confirm that an
agreement has been signed relating to the subscription by the
Company's majority shareholder, Somers Ltd, of 54,880,000 new
ordinary shares at a subscription price of 5 pence per share which
will raise gross proceeds of GBP2,744,000. It is anticipated that
admission of such shares to trading on AIM will occur at 8am today,
which is the final condition under the said agreement.
Following the Company's possible offer announcement on 31 May
2022, PCF has been contacted by a party in relation to considering
a possible combination under which PCF would acquire the other
company, and very early-stage conversations in respect of this have
commenced.
For further information, please visit https://pcf.bank/ or
contact:
PCF Group (via Tavistock Communications) Tel: +44 (0) 20
Garry Stran, Chief Executive Officer 7920 3150
Caroline Richardson, Chief Financial
Officer
Tavistock Communications Tel: +44 (0) 20
Simon Hudson / Tim Pearson 7920 3150
Peel Hunt (Nominated Advisor and Tel: +44 (0) 20
Joint Broker) 7418 8900
Andrew Buchanan / Rishi Shah /
Sam Milford
Shore Capital (Joint Broker) Tel: +44 (0) 20
Henry Willcocks / Guy Wiehahn 7408 4080
About PCF Group plc ( www.pcf.bank )
Established in 1994, PCF Group plc is the AIM-quoted parent of
the specialist bank, PCF Bank Limited. Since commencing operations
as a bank in 2017. The Group continues to focus on portfolio
quality and lending to the prime segments of its existing markets.
The Group will continue to identify opportunities to diversify its
lending products and asset classes by setting up new organic
operations or through acquisition.
PCF Bank currently offers retail savings products for
individuals and then deploys those funds through its four lending
divisions:
-- Business asset finance which provides finance for vehicles, plant and equipment to SMEs;
-- Consumer motor finance which provides finance for motor vehicles to consumers;
-- Azule which brokers finance to the broadcast and media industry; and
-- Property bridging finance which provides loans to companies
and sole traders investing in residential and commercial
property.
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June 07, 2022 02:01 ET (06:01 GMT)
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