REG - Time Finance PLC - Notice of Results, Investor Pres & Trading Update

Time FinanceAnnouncement

10/09/2024 07:00

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RNS Number : 4554D  Time Finance PLC  10 September 2024

10 September 2024

 

Time Finance plc

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

 

Notice of Results and Investor Presentation

Trading Update

 

Record net tangible assets

 

Time Finance plc, the AIM listed specialist finance provider, confirms key
dates in the Group's 2024 financial calendar. The Company is also pleased to
provide an update on trading during Q1 of the current financial year.

 

Notice of Results, Investor Presentation and Annual General Meeting

As announced on 27 June 2024, the Group is planning to publish its audited
annual results for the year ended 31 May 2024 on Wednesday 25 September 2024.
The Company will also provide an update in respect of trading in Q1 2024/25 at
that time.

 

Chief Executive Officer, Ed Rimmer, and Chief Financial Officer, James
Roberts, will deliver a live presentation relating to the audited annual
results and accompanying Q1 trading update via the Investor Meet Company
platform at 1.00pm on 25 September 2024. The presentation is open to all
existing and potential shareholders and questions can be submitted via the
Investor Meet Company dashboard pre-event up until 9am on 24 September 2024 or
at any time during the live presentation. Investors can sign up to Investor
Meet Company for free and add to meet Time Finance plc via:
https://www.investormeetcompany.com/time-finance-plc/register-investor
(https://www.investormeetcompany.com/time-finance-plc/register-investor) .
Investors who already follow Time Finance plc on the Investor Meet platform
will automatically be invited.

 

As communicated on 27 August 2024, the Company is proposing to hold its Annual
General Meeting on Tuesday 5 November 2024. The notice convening the AGM will
be published in due course.

 

Balance Sheet continues to strengthen in line with medium-term strategy

Trading in the current financial year has started strongly as the Group
continues to deliver on its four-year medium-term plan that was first
announced in June 2021. At 31 August 2024, the unaudited value of the Group's
Net Tangible Assets reached a record high standing in excess of £40m.
Additionally, the Group achieved record monthly revenues during July 2024, and
then again in August 2024, as it continues to benefit from the focus on
own-book lending. Unaudited revenues during Q1 FY2025 were approximately 20%
higher than the prior year equivalent (Q1 FY2024: £7.6m), providing
significant confidence as to delivery of full year performance in line with
market expectations. Fuller detail regarding all key metrics and performance
during Q1 will be provided in the update being announced on 25 September.

 

For further information, please contact:

 

Time Finance
plc
 01225 474230

Ed Rimmer, Chief Executive Officer

James Roberts, Chief Financial Officer

 

Cavendish Capital Markets (Nominated Adviser and Broker)
               0207 220 0500

Ben Jeynes / Dan Hodkinson (Corporate Finance)
 

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 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) .

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as amended by regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310. Upon the publication of this announcement via
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

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