TIDMTIME

RNS Number : 8236M

Time Finance PLC

19 September 2023

19 September 2023

Time Finance plc

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

Appointment of Independent Non-Executive Directors

Time Finance plc, the AIM listed specialist finance provider, is pleased to announce the appointments of Tracy Watkinson and Paul Hird as Independent Non-Executive Directors of the Group with immediate effect.

Tracy is an accomplished executive with more than 20 years of finance and commercial experience, and currently serves as Chief Operating Officer of Finance at NatWest Group. She began her career at PwC, before later moving into the finance sector, working for Barclays, UBS and Credit Suisse. Tracy has significant experience as a COO in investment banking and is a business transformation expert. She has served in a number of non-executive and independent chair roles, within the finance and sporting sectors.

Paul has a background of over 30 years in the finance sector, most recently as co-founder and Chief Executive of Leumi ABL, an asset-based lender that provided over GBP500m of facilities to clients in the UK Mid-Market with assets of over GBP2.4 billion being funded annually. Paul is a seasoned non-executive and corporate finance professional with a broad base of experience and achievements in senior management, mergers and acquisitions, and strategic business planning.

Tracy and Paul will be joining the Nominations, Remuneration, Audit, and Governance & Risk committees with immediate effect.

The Company also announces that after many years of significant contributions to the Board, Ron Russell and Julian Telling, Non-Executive Directors of the Company, will step down from the Board on conclusion of the Company's AGM to be held on 7 November 2023.

Tanya Raynes, Non-Executive Chair of Time Finance, said:

"Paul and Tracy both bring highly relevant experience that will benefit the Group and its future at what is a very exciting time for the Company as it continues to deliver on its stated growth strategy including seeking to double Time Finance's own lending book from June 2021 to June 2025. I am very pleased to welcome them to the Board."

"I would also like to take this opportunity to thank Ron, who remains a highly supportive long-term shareholder of the Company, and Julian for their contribution to the business over many years."

 
  For further information, please 
    contact: 
 
   Time Finance plc 
   Ed Rimmer, Chief Executive Officer                       01225 474230 
   James Roberts, Chief Financial Officer                   01225 474230 
 
   Cavendish Securities plc (NOMAD 
    and Broker) 
   Ben Jeynes / Charlie Combe (Corporate 
    Finance) 
    Michael Johnson / George Budd (Sales)                  0207 220 0500 
 
   Walbrook PR                                             0207 933 8780 
   Paul Vann /Joe Walker                                    07768 807631 
                                              Timefinance@walbrookpr.com 
 
 
  Tracy Watkinson, aged 47, holds or has held the following directorships 
  or partnerships in the past five years: 
   Current           Previous 
   393 FPR Limited   The British Handball Association 
                      The England Handball Association 
                      Ltd 
                    ---------------------------------- 
 
 
  Paul Grant Self Hird, aged 64, holds or has held the following 
  directorships or partnerships in the past five years: 
   Current                            Previous 
   PH&HH Consultancy Ltd              Leumi UK Group Limited 
    Preston Nomads Cricket Club        THPH Investments 3 Ltd 
    Ltd 
    Salisbury Court Hove (Freehold) 
    Ltd 
    Salisbury Court (Hove No 
    2) Management Company Ltd 
    Spatial Composite Solutions 
    FZ LLC 
                                     ------------------------ 
 
 
  Mr. Hird resigned as a Non-Executive Director of Sherwood Environmental 
  Services Limited ("SES") on 1st June 2006. On 13(th) June 2006, 
  administration proceedings were initiated against SES pursuant 
  to a winding up petition. Proceedings were concluded on 13 June 
  2007 and SES was dissolved on 9 January 2009. 
 
  Neither Paul nor Tracy currently holds any ordinary shares in 
  the Company. 
 
 
  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 
  .

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END

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(END) Dow Jones Newswires

September 19, 2023 02:00 ET (06:00 GMT)

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