Private & Commercial Fin Group Plc Issue of Equity (5124E)
09 May 2017 - 4:00PM
UK Regulatory
TIDMPCF TIDMTTM
RNS Number : 5124E
Private & Commercial Fin Group Plc
09 May 2017
9 May 2017
Private & Commercial Finance Group plc
("PCFG", the "Company" or the "Group")
Scrip Dividend Elections
Issue of Equity
The Company announces that, pursuant to the Scrip Dividend
Scheme which was approved by shareholders at the Company's Annual
General Meeting on 10(th) March 2017, it has received elections to
receive new ordinary shares in lieu of cash in respect of the final
dividend payment due on 16(th) May 2017. Election notices have been
received from the holders of 25,262,710 ordinary shares of 5p each
in the Company ("Ordinary Shares"), in aggregate, representing
approximately 11.9% of the Ordinary Shares in issue on 18 April
2017. Accordingly, 95,676 new Ordinary Shares ("New Shares") will
be issued in satisfaction of such elections at an equivalent price
of 26.4 pence per share.
Application has been made for the New Shares to be admitted to
trading on AIM and it is expected that admission will take place at
8.00 a.m. on 16(th) May 2017. The New Shares will rank pari passu
with the existing Ordinary Shares.
Following admission of the New Shares to trading on AIM, the
Company will have 212,219,778 Ordinary Shares in issue, none of
which are held in treasury.
The above figure of 212,219,778 may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure, Guidance and Transparency Rules.
- end -
For further information, please contact:
Private & Commercial Finance Tel: +44 (0)
Group 20 7222 2426
Scott Maybury, Chief Executive
Officer
Robert Murray, Managing Director
David Bull, Finance Director
Tavistock Communications Tel: +44 (0)
Jos Simson / Niall Walsh 20 7920 3150
Panmure Gordon (UK) Limited Tel: +44 (0)
Atholl Tweedie / Adam James 20 7886 2500
- Corporate Finance
Charles Leigh-Pemberton - Corporate
Broking
Stockdale Securities Tel: +44 (0)
Robert Finlay / Richard Johnson 20 7601 6100
- Corporate Finance
Henry Willcocks - Corporate
Broking
About Private & Commercial Finance Group plc
(www.pcfg.co.uk)
Established in 1994, Private & Commercial Finance Group plc
is an AIM-quoted specialist bank which has two main operating
divisions:
-- Consumer Finance which provides finance for motor vehicles to consumers; and
-- Business Finance which provides finance for vehicles, plant and equipment to SMEs.
The Group has a highly efficient and scalable business model,
utilising its specially developed internet-based proposal system to
service national networks of brokers and suppliers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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