PCF Group PLC Completion of Acquisition and Issue of Equity (9344F)
01 November 2018 - 6:00PM
UK Regulatory
TIDMPCF
RNS Number : 9344F
PCF Group PLC
01 November 2018
1 November 2018
PCF Group plc
("PCF", the "Company" or the "Group")
Completion of Acquisition and Issue of Equity
PCF Group plc, the parent of specialist bank PCF Bank, is
pleased to announce that its acquisition of Azule Limited
("Azule"), previously announced on 8 October 2018, has now
completed following receipt of Financial Conduct Authority
approval.
The Company has applied for admission of 1,923,076 Consideration
Shares to trading on AIM and it is expected that admission will
become effective and dealings will commence at 8.00 a.m. on 5
November 2018.
Following admission of the Placing and Consideration Shares, the
Company's issued ordinary share capital will consist of 214,152,601
ordinary shares; no shares are held in treasury. The above figure
of 214,152,601 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
Company under the FCA's Disclosure Guidance and Transparency
Rules.
- end -
For further information, please contact:
PCF Group plc Tel: +44 (0) 20 7222
Scott Maybury, Chief Executive Officer 2426
Robert Murray, Managing Director
David Bull, Finance Director
Tavistock Communications Tel: +44 (0) 20 7920
Jos Simson / Simon Hudson / Edward Lee 3150
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886
Atholl Tweedie - Corporate Finance 2500
Charles Leigh-Pemberton - Corporate Broking
Stockdale Securities Tel: +44 (0) 20 7601
Robert Finlay / Richard Johnson - Corporate 6100
Finance
Henry Willcocks - Corporate Broking
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-quoted parent of
the specialist bank, PCF Bank Limited. With the advent of a banking
operation, the Group now has the capability to increase its lending
portfolio significantly, with target portfolio sizes of GBP350
million in 2020 and GBP750 million in 2022. The Group will retain
its focus on portfolio quality and has the capability to lend
increasingly to prime segments of its existing finance markets. The
Group will also seek to diversify its lending products and asset
classes through acquisition.
PCF Bank currently offers retail savings products for
individuals and then deploys those funds through its two lending
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 track record of strong financial performance and
an efficient and scalable business model, with significant room to
grow. Utilising its technologically advanced platform, the Bank
provides both depositors and borrowers with a high level of service
and a straightforward, simple range of products tailored to suit
their needs.
For media enquiries please contact media@pcf.bank
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END
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