REG - Time Finance PLC - Appointment of Independent Non-Executive Directors

Time FinanceAnnouncement

19/09/2023 07:00

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RNS Number : 8236M  Time Finance PLC  19 September 2023

19 September 2023

 

Time Finance plc

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

 

Appointment of Independent Non-Executive Directors

 

Time Finance plc, the AIM listed specialist finance provider, is pleased to
announce the appointments of Tracy Watkinson and Paul Hird as Independent
Non-Executive Directors of the Group with immediate effect.

 

Tracy is an accomplished executive with more than 20 years of finance and
commercial experience, and currently serves as Chief Operating Officer of
Finance at NatWest Group. She began her career at PwC, before later moving
into the finance sector, working for Barclays, UBS and Credit Suisse. Tracy
has significant experience as a COO in investment banking and is a business
transformation expert. She has served in a number of non-executive and
independent chair roles, within the finance and sporting sectors.

 

Paul has a background of over 30 years in the finance sector, most recently as
co-founder and Chief Executive of Leumi ABL, an asset-based lender that
provided over £500m of facilities to clients in the UK Mid-Market with assets
of over £2.4 billion being funded annually. Paul is a seasoned non-executive
and corporate finance professional with a broad base of experience and
achievements in senior management, mergers and acquisitions, and strategic
business planning.

 

Tracy and Paul will be joining the Nominations, Remuneration, Audit, and
Governance & Risk committees with immediate effect.

 

The Company also announces that after many years of significant contributions
to the Board, Ron Russell and Julian Telling, Non-Executive Directors of the
Company, will step down from the Board on conclusion of the Company's AGM to
be held on 7 November 2023.

 

Tanya Raynes, Non-Executive Chair of Time Finance, said:

 

"Paul and Tracy both bring highly relevant experience that will benefit the
Group and its future at what is a very exciting time for the Company as it
continues to deliver on its stated growth strategy including seeking to double
Time Finance's own lending book from June 2021 to June 2025. I am very pleased
to welcome them to the Board."

 

"I would also like to take this opportunity to thank Ron, who remains a highly
supportive long-term shareholder of the Company, and Julian for their
contribution to the business over many years."

 

 For further information, please contact:

 Time Finance plc
 Ed Rimmer, Chief Executive Officer              01225 474230
 James Roberts, Chief Financial Officer          01225 474230

 Cavendish Securities plc (NOMAD and Broker)
 Ben Jeynes / Charlie Combe (Corporate Finance)  0207 220 0500

 Michael Johnson / George Budd (Sales)

 Walbrook PR                                     0207 933 8780
 Paul Vann /Joe Walker                           07768 807631
                         Timefinance@walbrookpr.com

 

 Tracy Watkinson, aged 47, holds or has held the following directorships or
 partnerships in the past five years:

Current          Previous

 393 FPR Limited  The British Handball Association

                  The England Handball Association Ltd

 

 Paul Grant Self Hird, aged 64, holds or has held the following directorships
 or partnerships in the past five years:

Current                                              Previous

 PH&HH Consultancy Ltd                                Leumi UK Group Limited

 Preston Nomads Cricket Club Ltd                      THPH Investments 3 Ltd

 Salisbury Court Hove (Freehold) Ltd

 Salisbury Court (Hove No 2) Management Company Ltd

 Spatial Composite Solutions FZ LLC

 

 Mr. Hird resigned as a Non-Executive Director of Sherwood Environmental
 Services Limited ("SES") on 1st June 2006. On 13(th) June 2006, administration
 proceedings were initiated against SES pursuant to a winding up petition.
 Proceedings were concluded on 13 June 2007 and SES was dissolved on 9 January
 2009.

 Neither Paul nor Tracy currently holds any ordinary shares in the Company.

 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
 (http://www.timefinance.com/) .

 

 

Tracy Watkinson, aged 47, holds or has held the following directorships or
partnerships in the past five years:

 

 Current          Previous

 393 FPR Limited  The British Handball Association

                  The England Handball Association Ltd

 

Paul Grant Self Hird, aged 64, holds or has held the following directorships
or partnerships in the past five years:

 

 Current                                              Previous

 PH&HH Consultancy Ltd                                Leumi UK Group Limited

 Preston Nomads Cricket Club Ltd                      THPH Investments 3 Ltd

 Salisbury Court Hove (Freehold) Ltd

 Salisbury Court (Hove No 2) Management Company Ltd

 Spatial Composite Solutions FZ LLC

 

Mr. Hird resigned as a Non-Executive Director of Sherwood Environmental
Services Limited ("SES") on 1st June 2006. On 13(th) June 2006, administration
proceedings were initiated against SES pursuant to a winding up petition.
Proceedings were concluded on 13 June 2007 and SES was dissolved on 9 January
2009.

 

Neither Paul nor Tracy currently holds any ordinary shares in the Company.

 

 

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
(http://www.timefinance.com/) .

 

 

 

 

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