Information  X 
Enter a valid email address

1PM plc (OPM)

  Print      Mail a friend       Annual reports

Tuesday 03 June, 2008

1PM plc

Trading Statement

                                    1 pm plc

                            ("1pm" or the "Company")

           Extra GBP 500,000 lending facility secured to drive growth

Date: 02 June 2008

The  board of 1pm, a provider of asset finance facilities to the small  business
community,  is  pleased to announce that it has secured a further £500,000  from
one of its existing lenders.  In the past three months, total banking facilities
available to 1pm have increased by £1,250,000.

This  is  another significant success for the Company as it enables the business
to  scale  up  its lending capabilities, secure more clients and in  turn  drive
growth.

Mike Johnson, Chairman stated:

"I am delighted with this announcement as it is a further endorsement of the new
management  team  and  its timely decision to exit the sub  prime  sector.   Our
business  has been totally restructured and is now focused on servicing quality,
small business clients via referrals from premium brokers.

Our  funding  partners are confident in our strategy and this is represented  by
the  largest single increase in our facility to date. Our business is performing
exceptionally  well  and  I look forward to updating shareholders  with  further
progress in due course."

Enquiries

Mike Johnson, Chairman 1pm plc                                 08707 397 397

Ian Callaway, SVS Securities plc                               020 7638 5600

Nick Harriss, Blomfield Corporate Finance                      020 7489 4500

Shane  Dolan, Biddicks                                         020 7448 1000


-END-