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Tuesday 03 September, 2019


Issue of Equity, Key Dates and Proposed Dividend

RNS Number : 9734K
03 September 2019

3 September 2019


1pm plc

(the "Group" or the "Company")

Issue of equity following earn-out achievement

Confirmation of key dates including 2019 Annual Results announcement

Proposed final dividend


1pm plc (AIM: OPM), the AIM listed independent specialist provider of finance facilities to UK SMEs, announces a further issue of equity to satisfy the achieved earn-out consideration for Positive Cashflow Finance Limited ("Positive"), key dates in the 2019 financial calendar  and details of the Group's proposed final dividend payment.


Issue of Equity

As announced on 18 June 2019, following the successful achievement of profit targets, the share-based consideration in relation to the second of three earn-out payments is payable to the vendors of Positive. Accordingly, 1,388,888 new ordinary shares of 10p each in the Company ("New Ordinary Shares") will be issued to the vendors.


The New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in issue. The New Ordinary Shares are subject to various lock-in arrangements for a minimum period of 12 months from the date of issue.


Application has been made for the 1,388,888 new Ordinary Shares to be admitted to trading on AIM, with admission expected to take place on 4 September 2019. Following admission, the Company's issued share capital will comprise 88,985,316 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 88,985,316.


Key Dates

The Group will announce audited annual results for the year ended 31 May 2019 on Wednesday 25 September 2019 and is proposing to hold its Annual General Meeting ("AGM") on 6 November 2019.


Proposed Dividend

It is anticipated that at the AGM, the Board will seek shareholder approval to declare a final dividend of 0.56p per ordinary share for the year ended 31 May 2019. This dividend will be payable on 12 December 2019 to shareholders who are on the register of members of the Company on 1 November 2019.


This proposed final dividend is in line with the Group's progressive Dividend Policy announced on 26 July 2018 which stated the Board's intention to increase the total annual dividend by approximately 30% per annum in the years 2018 to 2021 from the 2017 level.  A summary of the proposed and paid dividends is set out in the table below


Dividend Payments

31 May 2019

31 May 2018

31 May 2017









Total for year





* proposed final dividend subject to approval at the AGM.


Ian Smith, 1pm plc Group CEO, said:


"I am delighted that we are able to issue the additional equity due in relation to Positive's earnout which clearly demonstrates its continued excellent performance as part of the 1pm Group and also to reaffirm our progressive Dividend Policy for the second year, signalling  our intent to progressively reward shareholders as the business continues to develop."



For further information, please contact:

1pm plc

Ian Smith, Chief Executive Officer

01225 474230

James Roberts, Chief Financial Officer

01225 474230

Cenkos (NOMAD)

Max Hartley, Julian Morse (Sales)

0207 397 8900

Walbrook PR

0207 933 8780

Paul Vann

07768 807631

[email protected]

About 1pm:

1pm'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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

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