REG - 1PM PLC - Change of Name to Time Finance plc

Time FinanceAnnouncement

07/12/2020 07:00

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RNS Number : 6803H  1PM PLC  07 December 2020

 

 

 

7 December 2020

 

1pm plc

(the "Company")

 

CHANGE OF COMPANY NAME TO TIME FINANCE PLC

GROUP-WIDE CORPORATE REBRAND

 

Unified brand will deliver a comprehensive financing solution to UK SME
businesses

 

1pm plc, the AIM listed independent specialist finance provider to UK SME
businesses is pleased to announce that the Company's name is changing to Time
Finance plc with immediate effect. All subsidiary businesses within the 1pm
Group will hereafter form part of the Time Finance brand. A resolution giving
the Directors authority to change the Company's name was approved by
shareholders at the Company's AGM held on 6 November 2019. The change of
Company name has been formally registered at Companies House and a new
certificate issued.

 

With effect from Tuesday 8 December 2020, trading in the Company's ordinary
shares on AIM will commence under the new name and the new ticker will be
TIME. The Company's ISIN (GB00BCDBXK43) and SEDOL remain unchanged.
Shareholders should note that their shareholdings will be unaffected by the
change of name and existing share certificates should be retained as no new
share certificates will be issued. The Company's website will change to
www.timefinance.com (http://www.timefinance.com) with effect from 8.00am today
and all information pursuant to AIM Rule 26 will be available at this
address.

 

The rebranding follows the recent completion of the "buy and build" phase of
the Group's strategic expansion which has resulted in it being able to offer a
comprehensive portfolio of financing solutions tailored for the UK SME market
through its enhanced lending and broking operations. The Company is now
simplifying its operating structure into a single nationally recognised,
market-facing product offering under the new name.

 

Ian Smith, Chief Executive Officer, commented:

 

"The underlying strength of our market position, product offering, business
model and robust operating structures have proven resilient, relevant and
effective during the continuing economic and trading challenges presented by
the Covid-19 pandemic. The rebranding of the business is designed to further
consolidate and strengthen our offering, integrating and unifying 1pm (UK)
Ltd, trading as Onepm Finance, Academy Leasing; Bradgate Business Finance;
Intelligent Loans; Positive Cashflow Finance and Gener8 Finance under one
consistent brand name and identity to deliver a more comprehensive solution to
UK SME businesses."

 

 For further information, please contact:

 Time Finance plc
 Ian Smith, Chief Executive Officer        07768 394162
 James Roberts, Chief Financial Officer    01225 474230

 Cenkos Securities plc (NOMAD)
 Max Hartley / Ben Jeynes (Nomad)          0207 397 8900

 Julian Morse (Sales)

 Walbrook PR                               0207 933 8780
 Paul Vann                                 07768 807631
                                           paul.vann@walbrookpr.com (mailto:paul.vann@walbrookpr.com)

 

About Time Finance plc

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.

 

The Group's vehicle finance brokerage in Birkenhead, Merseyside, which
provides used vehicle finance to consumers, will form part of Time Finance,
but will continue to trade as Car Finance 2U.

 

More information is available on the Company website www.timefinance.com
(http://www.timefinance.com)

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