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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.

 

 

Position

Number of Vested Options

James Roberts

CFO

 864,500

Jennifer Bodey

PDMR

 217,000

Lorraine Neyland

PDMR

 217,000

Holly Mapstone

PDMR

 168,000

Alun Winter

PDMR

 168,000

Phil Chesham

PDMR

 168,000

Tansy Cunningham

PDMR

 168,000

David Jones

PDMR

 168,000

 

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 www.timefinance.com  

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

1.  James Roberts

2.  Jennifer Bodey

3.  Lorraine Neyland

4.  Holly Mapstone

5.  Alun Winter

6.  Phil Chesham

7.  Tansy Cunningham

8.  David Jones

2

 

Reason for the notification

 

a)

 

Position/status

1.  Chief Finance Officer

2.  PDMR

3.  PDMR

4.  PDMR

5.  PDMR

6.  PDMR

7.  PDMR

8.  PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

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

a)

 

Name

 

1pm 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

Share Options over Ordinary Shares of 10p each

 

 

 

 

b)

 

Nature of the transaction

 

Vesting of Unapproved Share Option Scheme share options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

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

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transaction

 

20 May 2021

f)

 

Place of the transaction

Outside of a trading venue

 

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