REG - Time Finance PLC - Exercise of Options & Director/PDMR Shareholding
21/11/2023 07:00
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RNS Number : 1152U Time Finance PLC 21 November 2023
21 November 2023
Time Finance plc
("Time Finance", the "Group" or the "Company")
Exercise of Share 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 Schemes (the "Schemes").
The Option exercises, of nil cost Options under the Schemes 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 remains at 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 690,166 ordinary shares allocated from the EBT in
satisfying the Option exercises, 147,604 ordinary shares have been sold by
participants at a price of 32.50 pence per ordinary share to meet the tax
liabilities arising from the exercises of Options. The balance of ordinary
shares from the exercises have been retained by the participants in accordance
with the terms of the Schemes.
Participant Position Ordinary Shares from Ordinary
Option exercises Shares disposed of
Ed Rimmer CEO 411,666 Nil
James Roberts CFO 123,500 65,454
Lorraine Neyland PDMR 31,000 16,430
Phil Chesham PDMR 24,000 12,720
Steve Nichols PDMR 100,000 53,000
As a result of these exercises of Options and taxation related disposal of
ordinary shares, Ed Rimmer, the Company's Chief Executive Officer, and James
Roberts, the Company's Chief Financial Officer, are now interested in 508,164
and 615,006 ordinary shares, representing 0.6% and 0.7% of the Company's
issued ordinary share capital, respectively.
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
Cavendish Securities plc (NOMAD and Broker)
Ben Jeynes / Dan Hodkinson (Corporate Finance)
0207 220 0500
Michael Johnson / George Budd / Charlie Combe (Sales and ECM)
Walbrook PR
0207 933
8780
Paul Vann / Joe Walker
07768 807631
timefinance@walbrookpr.com
About Time Finance:
Time Finance's purpose is to help UK businesses thrive and survive through the
provision of flexible funding facilities. It offers a multi-product range for
SMEs concentrating on asset, 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. Ed Rimmer
2. James Roberts
3. Lorraine Neyland
4. Phil Chesham
5. Steve Nichols
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. PDMR
4. PDMR
5. 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. 411,666
2. Nil pence 2. 123,500
3. Nil pence 3. 31,000
4. Nil pence 4. 24,000
5. Nil pence 5. 100,00
d) Aggregated information
- Aggregated volume n/a - see table above
- Price
e) Date of the transaction 17 November 2023
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 transaction
17 November 2023
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
4. Steve Nichols
2 Reason for the notification
a) Position/status 1. Chief Financial Officer
2. PDMR
3. PDMR
4. 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. 32.5 pence 1. 65,454
2. 32.5 pence 2. 16,430
3. 32.5 pence 3. 12,720
4. 32.5 pence 4. 53,000
d) Aggregated information
- Aggregated volume n/a - see table above
- Price
e) Date of the transaction 17 November 2023
f) Place of the transaction AIMX
d)
Aggregated information
- Aggregated volume
- Price
n/a - see table above
e)
Date of the transaction
17 November 2023
f)
Place of the transaction
AIMX
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