TIME FINANCE PLC

Management Reports • Jun 8, 2017

National Storage Mechanism | Additional information

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RNS Number : 5236H

1PM PLC

08 June 2017

8 June 2017

1pm plc

(the "Group" or the "Company")

Completion of Tracx Finance Limited acquisition,

Directorate change

and

Director/PDMR dealings

Further to the announcements on 18 May 2017 and 7 June 2017, 1pm plc is pleased to announce that, following admission to trading on AIM of the 28,861,117 New Ordinary Shares this morning, the acquisition of Tracx Finance Limited has now completed. Tracx Finance Limited is the holding company and 100% shareholder of its trading subsidiary Gener8 Finance Limited. The Board is pleased to welcome the Gener8 team to the Group and is excited by the prospects of the Group's newly established Commercial Finance Division.

Following the completion of the Acquisition, Edward Rimmer is today appointed to the Board of the Company as the Managing Director of the Commercial Finance Division and CEO of Gener8 Finance Limited.  Mr. Rimmer brings over 20 years' experience in commercial finance, most recently acting as UK CEO of Bibby Financial Services Limited. All information required under Schedule 2(g) of the AIM Rules in relation to Edward Rimmer's appointment was included in the Circular that was sent to shareholders on 18 May 2017.

The Company also announces that, following admission, the purchases of Ordinary Shares by certain existing Directors as part of the Placing, as announced on 18 May 2017, have now completed. Edward Rimmer purchased 33,000 Ordinary Shares as part of the Placing. In addition, Ron Russell subscribed for 128,906 shares in the Open Offer. Further information on these transactions is set out below.

The Company is pleased to report that, as noted in the Circular sent to shareholders on 18 May 2017, trading in the financial year to 31 May 2017 was in line with market expectations.

Commenting on the completion of the acquisition, placing and oversubscribed Open Offer, 1pm Chief Executive Ian Smith said:  "The successful fundraising to finance both the acquisition of Tracx Finance and the possible second acquisition, together with the establishment of our new Commercial Finance Division, under the leadership of Ed Rimmer, whom I am delighted to welcome to the Board, together represent important milestones in the ongoing growth and development of the Group. They demonstrate the implementation of a key element of the Group's stated strategic plan which is to continue to expand our offering to UK SMEs by adding adjacent financial products and services which are complementary to our existing Asset Finance and Business Loans portfolios and which also create significant cross-selling opportunities."

Capitalised terms used in this announcement have the meanings given to them in the Circular dated 18 May 2017.

For further information, please contact:
1pm plc
Ian Smith, Chief Executive Officer	01225 474230
James Roberts, Chief Financial Officer	01225 474230
Cenkos (NOMAD)
Max Hartley, Harry Pardoe (NOMAD), Julian Morse (Sales)	0207 397 8900
Walbrook PR	0117 985 8989
Paul Vann	07768 807631
	[email protected]

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Newman

2

Reason for the notification

a)

Position/status

Non-Executive Chairman

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	55,500

d)

Aggregated information

- Aggregated volume

- Price

55,500 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ian Smith

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	55,500

d)

Aggregated information

- Aggregated volume

- Price

55,500 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Nolan

2

Reason for the notification

a)

Position/status

Chief Risk Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	55,500

d)

Aggregated information

- Aggregated volume

- Price

55,500 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Roberts

2

Reason for the notification

a)

Position/status

Chief Finance Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	22,000

d)

Aggregated information

- Aggregated volume

- Price

22,000 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Julian Telling

2

Reason for the notification

a)

Position/status

Non-Executive Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	55,500

d)

Aggregated information

- Aggregated volume

- Price

55,500 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Edward Rimmer

2

Reason for the notification

a)

Position/status

Managing Director - Commercial Finance Division

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	33,000

d)

Aggregated information

- Aggregated volume

- Price

33,000 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ron Russell

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

1pm plc

b)

LEI

N/a

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

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
45p	128,906

d)

Aggregated information

- Aggregated volume

- Price

128,906 Ordinary Shares

45p per Ordinary Share

e)

Date of the transaction

8 June 2017

f)

Place of the transaction

N/a

This information is provided by RNS

The company news service from the London Stock Exchange

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