RNS Number : 4600B

Time Finance PLC

10 June 2021

10 June 2021

Time Finance plc

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




Time Finance plc, the AIM listed independent specialist finance provider is delighted to announce that Ed Rimmer has been confirmed as permanent Group CEO with effect from 1 June 2021.

Having previously been COO of the Company, Mr Rimmer was reappointed as Interim Group CEO three months ago. He is a widely experienced senior executive with a strong commercial, financial and operational track record in financial services for over 25 years. He was previously UK CEO of Bibby Financial services, rapidly building the business and doubling its profits to become the largest independent operator in the invoice finance market.

John Newman, Chairman commented:

"We are delighted to have secured Ed's talents on a permanent basis. He is a well-respected and proven Chief Executive with an exceptional record and was a natural choice for the Group. Not only does he bring enormous depth of experience of the wider FS market from his time with Bibby, but he also has an in-depth understanding and grasp of the Group from his time as its COO. We are excited about the vision and leadership that he will bring to the business and for the future of the Group".

Ed Rimmer, CEO, added:

"Time Finance is a strong business operating in a sector that has played a critical role helping small businesses across the UK through the disruption of Covid-19. The Group has the opportunity for further development of its position as a credible alternative to the high street banks as a multi-product independent SME funder helping businesses to grow post COVID. I believe it is very well placed to take advantage of a number of opportunities that should arise over the coming months and beyond and I look forward to leading the business through the next stage of its journey, delivering increasing returns for all of the Group's stakeholders."

Notice of Investor Presentation

As previously announced, the Company intends to provide a Trading and Strategic update on Wednesday 16 June 2021. Ed Rimmer, CEO, and James Roberts, CFO, will also provide a live presentation relating to the update via the Investor Meet Company ("IMC") platform at 1pm on 16 June 2021. The online presentation is open to all existing and potential shareholders and questions can be submitted pre-event via the IMC dashboard up until 9am the day before the meeting or at any time during the live presentation. Whilst the Company may not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market. Responses to questions from the live presentation will be published at the earliest opportunity on the IMC platform.

Investors can sign up to IMC for free and add to meet Time Finance plc via:


Investors who already follow the Company on the IMC platform will automatically be invited.

 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) 
 Max Hartley / Ben Jeynes 
  Julian Morse (Sales)                         0207 397 8900 
 Walbrook PR                                   0207 933 8780 
 Paul Vann / Nicholas Johnson                   07768 807631 

About Time Finance:

Time Finance's strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses and arranging vehicle and property-backed finance for consumers. The multi-product range for SMEs includes asset, vehicle, loan and invoice finance facilities. The Group 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) Dow Jones Newswires

June 10, 2021 02:00 ET (06:00 GMT)

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