REG - Time Finance PLC - Exercise of Options & Director/PDMR Shareholding

Time FinanceAnnouncement

20/12/2022 13:30

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RNS Number : 3595K  Time Finance PLC  20 December 2022

20 December 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 178,500 ordinary shares allocated from the EBT in
satisfying the Option exercises, 102,631 Ordinary Shares have been sold at a
price of 21.2 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  Ordinary

                             Option exercises      Shares disposed of
 James Roberts     CFO        123,500              48,413
 Lorraine Neyland  PDMR       31,000               10,608
 Phil Chesham      PDMR       24,000               9,848

 

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 524,086 ordinary shares, representing 0.6% 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)            0207 397 8900

 Julian Morse (Sales)

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

 

About Time Finance:

Time Finance's core strategy is to provide 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 focussed on being an 'own-book'
lender the Group does retain the ability to broke-on deals where appropriate,
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)

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1.     James Roberts

                                                                   2.     Lorraine Neyland

                                                                   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  Ordinary Shares of 10p each

      Identification code

 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       1.     123,500

                                                                   2.     Nil pence       2.     31,000

                                                                   3.     Nil pence       3.     24,000

 d)   Aggregated information

      - Aggregated volume                                          n/a - see table above

      - Price
 e)   Date of the transactions                                     19 December 2022

 f)   Place of the transaction                                     Outside of a trading venue

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transactions

 

19 December 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.     Lorraine Neyland

                                                                   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  Ordinary Shares of 10p each

      Identification code

 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.     21.2 pence       1.     48,413

                                                                   2.     21.2 pence       2.     10,608

                                                                   3.     21.2 pence       3.     9,848

 d)   Aggregated information

      - Aggregated volume                                          n/a - see table above

      - Price
 e)   Date of the transactions                                     19 December 2022

 f)   Place of the transaction                                     AIMX

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transactions

 

19 December 2022

f)

 

Place of the transaction

AIMX

 

 

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