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Time Finance PLC (TIME)

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Friday 21 May, 2021

Time Finance PLC

Unapproved Share Option Scheme - Vesting of Awards

RNS Number : 4122Z
Time Finance PLC
21 May 2021

21 May 2021



Time Finance plc

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


Unapproved Share Option Scheme - Vesting of Awards


Director/PDMR Shareholding


Time Finance plc, the AIM listed independent specialist finance provider, announces that following the achievement of share price performance criteria in relation to the Company's Unapproved Share Option Scheme (the "Scheme") a total of 2,138,500 previously awarded nil cost options over ordinary shares of 10 pence each in the capital of the Company have today vested (the "Vested Options"). The terms of the Scheme were previously announced by the Group on 29 October 2020.


The Vested Options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to an expiry date of 21 May 2022 being 12 months from today's vesting date.




Number of Vested Options

James Roberts



Jennifer Bodey



Lorraine Neyland



Holly Mapstone



Alun Winter



Phil Chesham



Tansy Cunningham



David Jones




A further 916,500 share options have been granted under the Scheme but remain unvested due to the time-based element of their criteria. Subject to continued employment this would see a third vesting in October 2021, a further third in October 2022 and a final third in October 2023 proportionate to the allocation of those that have vested today.


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


For further information, please contact:




Time Finance plc


Ed Rimmer, Interim Chief Executive Officer

01225 474230

James Roberts, Chief Financial Officer

01225 474230



Cenkos Securities plc (NOMAD)


Max Hartley / Ben Jeynes (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 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.


More information is available on the Company website  




Details of the person discharging managerial responsibilities / person closely associated





1.  James Roberts

2.  Jennifer Bodey

3.  Lorraine Neyland

4.  Holly Mapstone

5.  Alun Winter

6.  Phil Chesham

7.  Tansy Cunningham

8.  David Jones



Reason for the notification





1.  Chief Finance Officer

2.  PDMR

3.  PDMR

4.  PDMR

5.  PDMR

6.  PDMR

7.  PDMR

8.  PDMR



Initial notification /Amendment


Initial notification



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





1pm plc








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




Description of the financial instrument, type of instrument


Identification code

Share Options over Ordinary Shares of 10p each







Nature of the transaction


Vesting of Unapproved Share Option Scheme share options



Price(s) and volume(s)







1.  Nil pence

2.  Nil pence

3.  Nil pence

4.  Nil pence

5.  Nil pence

6.  Nil pence

7.  Nil pence

8.  Nil pence


1.  864,500

2.  217,000

3.  217,000

4.  168,000

5.  168,000

6.  168,000

7.  168,000

8.  168,000





Aggregated information


- Aggregated volume


- Price



n/a - see table above



Date of the transaction


20 May 2021



Place of the transaction

Outside of a trading venue


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