TIDMTIME

RNS Number : 5796B

Time Finance PLC

14 February 2022

14 February 2022

Time Finance plc

("Time Finance", the "Group" or the "Company")

Exercise of Employee Options and Director/PDMR Shareholdings

Time Finance plc, the AIM listed independent specialist finance provider, announces the exercise of share options ("Options") under the Company's Unapproved Share Option Scheme (the "Scheme").

The Option exercises, of nil cost Options under the Scheme by certain of the Company's directors and PDMRs, have been satisfied through the allocation of existing ordinary shares held by the Time Finance Employee Benefit Trust ("EBT") and, as such, no new ordinary shares have been issued in connection with the Option exercises. Therefore, the total number of ordinary shares with voting rights in the Company following admission will remain 92,512,704. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Group under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules,

Of the aggregate of 171,500 ordinary shares allocated from the EBT in satisfying the Option exercises, 102,631 Ordinary Shares have been sold at a price of 26 pence per ordinary share to meet the tax liabilities arising from the exercises of Options, with the balance of Ordinary Shares from the exercises being retained by the participants in accordance with the terms of the Scheme.

 
 Participant      Position     Ordinary Shares        Ordinary 
                                     from          Shares disposed 
                               Option exercises          of 
 James Roberts       CFO           123,500             75,087 
                 ----------  ------------------  ----------------- 
 Alun Winter        PDMR            24,000             13,392 
                 ----------  ------------------  ----------------- 
 Phil Chesham       PDMR            24,000             14,152 
                 ----------  ------------------  ----------------- 
 

As a result of the exercise of Options and taxation related disposal of New Ordinary Shares, James Roberts, the Company's Chief Financial Officer, is now interested in 448,999 ordinary shares, representing 0.5% of the Company's issued ordinary share capital.

The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

 
 For further information, 
  please contact: 
 
 Time Finance plc 
 Ed Rimmer, Chief Executive 
  Officer                                       01225 474230 
 James Roberts, Chief Financial 
  Officer                                       01225 474230 
 
 Cenkos Securities plc (NOMAD) 
 Ben Jeynes / Max Gould (Nomad) 
  Julian Morse (Sales)                         0207 397 8900 
 
 Walbrook PR                                   0207 933 8780 
 Paul Vann / Nicholas Johnson                   07768 807631 
                                    paul.vann@walbrookpr.com 
 

About Time Finance:

Time Finance's core strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses. It offers a multi-product range for SMEs including asset, vehicle, loan and invoice finance. While primarily an 'own-book' lender the Group does 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

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             1. James Roberts 
                                        2. Alun Winter 
                                        3. Phil Chesham 
     --------------------------  ---------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status                  1. Chief Finance Officer 
                                        2. PDMR 
                                        3. PDMR 
     --------------------------  ---------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ---------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------- 
 a)   Name                        Time Finance 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          Ordinary Shares of 10p each 
       financial instrument, 
       type of instrument 
 
       Identification code 
     --------------------------  ---------------------------------------- 
 b)   Nature of the transaction   Exercise of nil cost share options 
                                   under Unapproved Share Option Scheme 
     --------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)             Volume(s) 
                                          1. Nil pence         1. 123,500 
                                           2. Nil pence         2. 24,000 
                                           3. Nil pence         3. 24,000 
                                                         ---------------- 
     --------------------------  ---------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          n/a - see table above 
 
       - Price 
     --------------------------  ---------------------------------------- 
 e)   Date of the transaction     11 February 2022 
     --------------------------  ---------------------------------------- 
 f)   Place of the transaction    Outside of a trading venue 
     --------------------------  ---------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             1. James Roberts 
                                        2. Alun Winter 
                                        3. Phil Chesham 
     --------------------------  --------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                  1. Chief Finance Officer 
                                        2. PDMR 
                                        3. PDMR 
     --------------------------  --------------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                        Time Finance 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          Ordinary Shares of 10p each 
       financial instrument, 
       type of instrument 
 
       Identification code 
     --------------------------  --------------------------------------------- 
 b)   Nature of the transaction   Sale of ordinary shares of 10p each 
                                   pursuant to exercises of nil cost 
                                   share options under Unapproved Share 
                                   Option Scheme 
     --------------------------  --------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)                  Volume(s) 
                                                1. 26 pence         1. 75,087 
                                                 2. 26 pence         2. 13,392 
                                                 3. 26 pence         3. 14,152 
                                                              ---------------- 
     --------------------------  --------------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          n/a - see table above 
 
       - Price 
     --------------------------  --------------------------------------------- 
 e)   Date of the transaction     11 February 2022 
     --------------------------  --------------------------------------------- 
 f)   Place of the transaction    AIMX 
     --------------------------  --------------------------------------------- 
 
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END

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February 14, 2022 04:59 ET (09:59 GMT)

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