("1pm" or the "Company")
1PM SECURES ADDITIONAL £500,000 OF FUNDING
TRADING IN LINE WITH EXPECTATIONS
1 October 2008
The board of 1pm, a provider of asset finance facilities to the small business
community, is pleased to announce that it has secured an additional £500,000
block discounting facility from a new lender.
The Company's lending facilities now total £5 million and have increased by
almost 50% over the last quarter, reflecting the Company's intention to steadily
grow its client base and associated lending capabilities.
Trading continues to be robust and is in line with the Board's expectations.
Mike Johnson, Chairman stated:
"I am delighted to announce this new facility as it endorses the strength of our
business model and reflects the confidence of our lenders in the Company's
definitive debt collection procedures. We continue to steadily grow our business
and I am pleased to report that trading is in line with expectations. I look
forward to reporting further progress in due course."
Chairman 1pm plc 08707 397 397
SVS Securities plc 020 7638 5600
Emily Morgan/Nick Harriss
Blomfield Corporate Finance 020 7489 4500
Biddicks 020 7448 1000