("1pm" or the "Company")
Extra GBP 400,000 lending facility secured to underpin further growth
Date: 18 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 £400,000 from
one of its existing lenders.
In the past three months, total banking facilities available to 1pm have
increased by £1,650,000 now providing the business with total funding facilities
of over £3.5m
This is another significant success for the Company, following on from the
recently announced £500,000 of additional funding and enables the business to
increase its market share, build its client base and accelerate growth.
Mike Johnson, Chairman stated:
"I am delighted with this additional funding which now provides the Company with
over £3.5m of funds compared to just £700,000 a year ago. Our business
continues to perform exceptionally well post restructuring and the timely focus
on the small ticket leasing sector and I look forward to updating shareholders
with further progress in due course."
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