TIME FINANCE PLC

Management Reports • Aug 6, 2013

National Storage Mechanism | Additional information

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RNS Number : 0047L

1PM PLC

06 August 2013

6 August 2013

1PM PLC

(AIM: OPM)

New £1.5million Block Discounting Facility

1pm plc ("1pm" or "the Company"), the AIM listed specialist independent provider of lease asset finance to the SME sector, is pleased to announce that it has  negotiated a new Block Discounting Facility totalling £1.5million. This additional funding will be used exclusively for the purpose of writing new business.  

The loan terms are consistent with those of other funders to the Group.

The Group also announces that it has received a further £270,000 from its quarterly loan programme with Lesmoir-Gordon, Boyle & Co. Limited, set up in March 2013. This is the second quarterly tranche, making aggregate loans to date of £0.59million.

Maria Hampton, CEO of 1pm, commented:

"The new block discounting facility will give the Group additional capacity to further its growth and to satisfy the continuing demand for finance from the SME sector. It also demonstrates the growing reputation the Group enjoys within the marketplace as an independent, flexible provider of lease asset finance." 

For further information, please contact:
1pm plc
Mike Johnson, Chairman	0844 967 0944
Maria Hampton, CEO	0844 967 0944
WH Ireland (NOMAD)
Mike Coe	0117 945 3470
Winningtons Financial PR	0117 985 8989
Paul Vann	07768 807631
	[email protected]

About 1pm:

1pm plc is an established independent asset finance company focused on providing SMEs with accessible funding to add value to their businesses.  All customers must have good credit histories and proven ability to repay their finance commitments. 1pm currently lends from £1,000 to £50,000 for a period of between 12 and 60 months. The Company was admitted to AIM in August 2006.

Mission Statement - 'Helping the UK economy grow by supporting SMEs'

You can find more information on the Company website www.1pm.co.uk 

This information is provided by RNS

The company news service from the London Stock Exchange

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