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

Time FinanceAnnouncement

24/10/2024 07:00

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RNS Number : 3427J  Time Finance PLC  24 October 2024

24 October 2024

 

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 2022
Unapproved Share Option Scheme (the "Scheme").

 

The exercises of 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 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 611,667 ordinary shares allocated from the EBT in
satisfying the nil cost Option exercises, an aggregate of 108,093 ordinary
shares have been sold by certain Scheme participants at a price of 58.00 pence
per ordinary share to meet 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 Scheme.

 

As a result of these exercises of Options, Ed Rimmer, the Company's Chief
Executive Officer, is now interested in an increased 919,831 ordinary shares
representing 0.9% of the Company's issued ordinary share capital.

 

 Scheme Participant  Position  Ordinary Shares from  Ordinary

                               Option exercises      Shares disposed of
 Ed Rimmer           CEO       411,667               Nil
 Steve Nichols       PDMR      100,000               53,000
 Sharon Bryden       PDMR      100,000               55,093

 

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 Capital Markets (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

Nick Rome / Joe
Walker
             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 appro-priate, 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.     Steve Nichols

                                                                   3.     Sharon Bryden

 2    Reason for the notification

 a)   Position/status                                              1.     Chief Executive 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       1.     411,667

                                                                   2.     Nil       2.     100,000

                                                                   3.     Nil       3.     100,000

 d)   Aggregated information

      - Aggregated volume                                          n/a - see table above

      - Price
 e)   Date of the transaction                                      22 October 2024

 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

 

22 October 2024

f)

 

Place of the transaction

Outside of a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1.     Steve Nichols

                                                                   2.     Sharon Bryden

 2    Reason for the notification

 a)   Position/status                                              1.     PDMR

                                                                   2.     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.     58.0 pence       1.     53,000

                                                                   2.     58.0 pence       2.     55,093

 d)   Aggregated information

      - Aggregated volume                                          n/a - see table above

      - Price
 e)   Date of the transaction                                      22 October 2024

 f)   Place of the transaction                                     AIMX

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

n/a - see table above

e)

 

Date of the transaction

 

22 October 2024

f)

 

Place of the transaction

AIMX

 

 

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