TIME FINANCE PLC

Director's Dealing • Nov 21, 2023

National Storage Mechanism | Additional information

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 Option exercises	Ordinary 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.

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

Identification code

Ordinary Shares of 10p each

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 2.     Nil pence 3.     Nil pence 4.     Nil pence 5.     Nil pence	1.     411,666 2.     123,500 3.     31,000 4.     24,000 5.     100,00

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

Identification code

Ordinary Shares of 10p each

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 2.     32.5 pence 3.     32.5 pence 4.     32.5 pence	1.     65,454 2.     16,430 3.     12,720 4.     53,000

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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