TIME FINANCE PLC

Management Reports • Mar 4, 2013

National Storage Mechanism | Additional information

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RNS Number : 0784Z

1PM PLC

04 March 2013

For Immediate Release                                                                                                             04 March 2013

1PM PLC

(AIM: OPM)

New Loan Facilities

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 agreed a new £1 million loan facility with an overseas commercial and retail bank. The funds will be used exclusively for the purpose of writing new lease contracts.  

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

Since November 2012 the Group has also raised an additional £420,000 of new loans from various sources including a SIPP fund.  

Maria Hampton, CEO of 1pm, commented:

"This is a significant additional facility from a new provider to the Group and reflects 1pm's growing reputation and financial standing within the lease asset finance industry. We look forward to building a long standing relationship with the Bank and are delighted to have their support."

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.

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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