24 October 2024
Time
Finance plc
("Time
Finance", the "Group" or the "Company")
Exercise
of Share 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 2022
Unapproved Share Option Scheme (the "Scheme").
The exercises of 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 remains at
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 611,667 ordinary
shares allocated from the EBT in satisfying the nil cost Option
exercises, an aggregate of 108,093 ordinary shares have been sold
by certain Scheme participants at a price of 58.00 pence per
ordinary share to meet tax liabilities arising from the exercises
of Options. The balance of ordinary shares from the exercises have
been retained by the participants in accordance with the terms of
the Scheme.
As a result of these exercises of
Options, Ed Rimmer, the Company's Chief Executive Officer, is now
interested in an increased 919,831 ordinary shares representing
0.9% of the Company's issued ordinary share capital.
|
Scheme
Participant
|
Position
|
Ordinary Shares
from
Option
exercises
|
Ordinary
Shares disposed
of
|
|
Ed
Rimmer
|
CEO
|
411,667
|
Nil
|
|
Steve
Nichols
|
PDMR
|
100,000
|
53,000
|
|
Sharon Bryden
|
PDMR
|
100,000
|
55,093
|
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
Cavendish Capital Markets (NOMAD and
Broker)
Ben Jeynes / Dan Hodkinson
(Corporate Finance)
0207 220 0500
Michael Johnson / George Budd /
Charlie Combe (Sales and ECM)
Walbrook PR
0207 933
8780
Nick Rome / Joe
Walker
Timefinance@walbrookpr.com
About Time
Finance:
Time Finance's purpose is to help UK
businesses thrive and survive through the provision of flexible
funding facilities. It offers a multi-product range for SMEs
concentrating on Asset, Loan and Invoice Finance. While focussed on
being an 'own-book' lender, the Group does retain the ability to
broke-on deals where appro-priate, 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. Ed
Rimmer
2. Steve
Nichols
3. Sharon
Bryden
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. Chief
Executive Officer
2.
PDMR
3.
PDMR
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
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 financial
instrument, type of instrument
Identification code
|
Ordinary Shares of 10p
each
|
|
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
2.
Nil
3.
Nil
|
1.
411,667
2.
100,000
3.
100,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a - see table above
|
|
e)
|
Date of the transaction
|
22 October 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Steve
Nichols
2. Sharon
Bryden
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1.
PDMR
2.
PDMR
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
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 financial
instrument, type of instrument
Identification code
|
Ordinary Shares of 10p
each
|
|
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. 58.0
pence
2. 58.0
pence
|
1.
53,000
2.
55,093
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a - see table above
|
|
e)
|
Date of the transaction
|
22 October 2024
|
|
f)
|
Place of the transaction
|
AIMX
|
