1PM PLC Directorate Change (1940L)
28 April 2020 - 11:00PM
UK Regulatory
TIDMOPM
RNS Number : 1940L
1PM PLC
28 April 2020
28 April 2020
1pm plc
("1pm" or the "Group")
Directorate change
1pm plc (AIM: OPM), the AIM listed independent specialist
provider of finance facilities to UK SMEs, today announces a
directorate change following a reorganisation of the senior
management team.
Over the past two years, 1pm has been integrating acquired
businesses into the Group. This has created a structure comprising
product divisions and central business support functions. The
transition to this new structure is largely complete.
In the light of this transition and following a review of the
senior management team structure and cost, the Group has concluded
that there is no longer a requirement for the position of Chief
Operating Officer. As a result, Ed Rimmer will step down as a
director of 1pm plc and will leave the Group's employment with
effect from 30 April 2020. His operational duties will be absorbed
by the Chief Executive Officer, Chief Financial Officer and the
Operating Board members who currently lead the product divisions
and group functions.
John Newman, Non-executive Chairman, commented:
"On behalf of the Board I wish to record our sincere thanks and
appreciation for the commitment and resolve shown by Ed during what
has been a period of considerable change and challenge for our
business."
Ian Smith, Chief Executive Officer, commented:
"Ed joined the Group when we acquired the entities that comprise
the Invoice Finance Division and after very capably leading that
division, has made a wider and significant contribution in his role
as Chief Operating Officer successfully integrating the entire
Group. His legacy is that the Group will now be efficiently run
with a streamlined team of divisional and functional leaders. We
wish Ed every success in his future career".
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 / Ben Jeynes
(Nomad)
Julian Morse (Sales) 0207 397 8900
Walbrook PR 0207 933 8780
Paul Vann 07768 807631
paul.vann@walbrookpr.com
About 1pm:
1pm's strategy is to focus on providing or arranging the finance
UK SMEs require to fund their businesses and arranging vehicle and
property-backed finance for consumers. The multi-product range for
SMEs includes asset, vehicle, loan and invoice finance facilities.
The Group operates a "hybrid" lending and broking model enabling it
to optimize business levels through market and economic cycles.
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END
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