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Time Finance PLC (TIME)

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Monday 14 February, 2022

Time Finance PLC

Exercise of Options & Director/PDMR Shareholdings

RNS Number : 5796B
Time Finance PLC
14 February 2022
 

14 February 2022

 

 

Time Finance plc

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

 

Exercise of Employee Options and Director/PDMR Shareholdings

 

Time Finance plc, the AIM listed independent specialist finance provider, announces the exercise of share options ("Options") under the Company's Unapproved Share Option Scheme (the "Scheme").

 

The Option exercises, of nil cost Options under the Scheme by certain of the Company's directors and PDMRs, have been satisfied through the allocation of existing ordinary shares held by the Time Finance Employee Benefit Trust ("EBT") and, as such, no new ordinary shares have been issued in connection with the Option exercises.  Therefore, the total number of ordinary shares with voting rights in the Company following admission will remain 92,512,704. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Group under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules,

 

Of the aggregate of 171,500 ordinary shares allocated from the EBT in satisfying the Option exercises, 102,631 Ordinary Shares have been sold at a price of 26 pence per ordinary share to meet the tax liabilities arising from the exercises of Options, with the balance of Ordinary Shares from the exercises being retained by the participants in accordance with the terms of the Scheme.

 

Participant

Position

Ordinary Shares from

Option exercises

Ordinary

Shares disposed of

James Roberts

CFO

 123,500

75,087

Alun Winter

PDMR

 24,000

13,392

Phil Chesham

PDMR

 24,000

14,152

 

As a result of the exercise of Options and taxation related disposal of New Ordinary Shares, James Roberts, the Company's Chief Financial Officer, is now interested in 448,999 ordinary shares, representing 0.5% of the Company's issued ordinary share capital.

 

The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

 

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)


Ben Jeynes / Max Gould (Nomad)

Julian Morse (Sales)

0207 397 8900



Walbrook PR

0207 933 8780

Paul Vann / Nicholas Johnson

07768 807631


[email protected]

 

About Time Finance:

Time Finance's core strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses. It offers a multi-product range for SMEs including asset, vehicle, loan and invoice finance. While primarily an 'own-book' lender the Group does 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  

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

1.  James Roberts

2.  Alun Winter

3.  Phil Chesham

 

2

 

Reason for the notification

 

a)

 

Position/status

1.  Chief Finance Officer

2.  PDMR

3.  PDMR

 

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

Time Finance plc

b)

 

LEI

 

213800VG3QJGBP2MKR86

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

Ordinary Shares of 10p each

 

 

 

 

b)

 

Nature of the transaction

 

Exercise of nil cost share options under Unapproved Share Option Scheme

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

1.  Nil pence

2.  Nil pence

3.  Nil pence

 

1.  123,500

2.  24,000

3.  24,000

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transaction

 

11 February 2022

f)

 

Place of the transaction

Outside of a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

1.  James Roberts

2.  Alun Winter

3.  Phil Chesham

 

2

 

Reason for the notification

 

a)

 

Position/status

1.  Chief Finance Officer

2.  PDMR

3.  PDMR

 

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

Time Finance plc

b)

 

LEI

 

213800VG3QJGBP2MKR86

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

Ordinary Shares of 10p each

 

 

 

 

b)

 

Nature of the transaction

 

Sale of ordinary shares of 10p each pursuant to exercises of nil cost share options under Unapproved Share Option Scheme

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

1.  26 pence

2.  26 pence

3.  26 pence

 

1.  75,087

2.  13,392

3.  14,152

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transaction

 

11 February 2022

f)

 

Place of the transaction

AIMX

 

 

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