REG - Time Finance PLC - Vesting of Option Awards

Time FinanceAnnouncement

04/10/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241004:nRSD9028Ga&default-theme=true

RNS Number : 9028G  Time Finance PLC  04 October 2024

04 October 2024

 

Time Finance plc

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

 

 

Unapproved Share Option Scheme - Vesting of Option Awards

 

Time Finance plc, the AIM listed independent specialist finance provider,
announces the vesting of an ag-gregate of 611,666 historically awarded share
options following the achievement of profit-based performance criteria in
relation to the Company's 2022 Unapproved Share Option Scheme (the "2022
Scheme").

 

The terms of the 2022 Scheme were previously announced by the Group on 22 July
2022. It remains the Board's strong intention that existing ordinary shares
held by the Company's Employee Benefit Trust will be utilised to meet any
future exercise of these vested options and also of any further 2022 Scheme
options that could vest in the future. The vested options are all held by the
below Directors/PDMRs of the Company in the amounts below and may be exercised
at nil-cost at any time prior to the exercise expiry date.

 

 Name           Position  Number of Vested Options  Exercise Expiry
 Ed Rimmer      CEO       411,667                   30 September 2028
 Steve Nichols  PDMR      100,000                   30 September 2028
 Sharon Bryden  PDMR      100,000                   30 September 2028

 

There remain a further unvested 611,667 share options previously granted under
the 2022 Scheme. Sub-ject to the recipients' continued employment with the
Group and the achievement of stretching profit targets for the current
financial year, the remaining unvested 2022 Scheme options would vest in
October 2025.

 

The notifications below, provided in accordance with the requirements of the
UK Market Abuse Regula-tion, 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)                     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 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) .

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         1.    Ed Rimmer

                                                                    2.    Steve Nichols

                                                                    3.    Sharon Brydon

 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

                                                                    ISIN: GB00BCDBXK43

 b)    Nature of the transaction                                    Vesting of awards under 2022 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 Single transactions

       - Price
 e)    Date of the transaction                                      3 October 2024

 f)    Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

N/A Single transactions

e)

Date of the transaction

3 October 2024

 

f)

Place of the transaction

Outside of a trading venue

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQKNBDOBDDOKK