Time Finance PLC Vesting of Option Awards
04 October 2024 - 4:00PM
RNS Regulatory News
RNS Number : 9028G
Time Finance PLC
04 October 2024
04 October 2024
Time
Finance plc
("Time
Finance", the "Group" or the "Company")
Unapproved Share Option
Scheme - Vesting of Option Awards
Time Finance plc, the AIM listed
independent specialist finance provider, announces the vesting of
an ag-gregate of 611,666 historically awarded share options
following the achievement of profit-based performance criteria in
relation to the Company's 2022 Unapproved Share Option Scheme (the
"2022 Scheme").
The terms of the 2022 Scheme were
previously announced by the Group on 22 July 2022. It remains the
Board's strong intention that existing ordinary shares held by the
Company's Employee Benefit Trust will be utilised to meet any
future exercise of these vested options and also of any further
2022 Scheme options that could vest in the future. The vested
options are all held by the below Directors/PDMRs of the Company in
the amounts below and may be exercised at nil-cost at any time
prior to the exercise expiry date.
|
Name
|
Position
|
Number of Vested
Options
|
Exercise
Expiry
|
|
Ed Rimmer
|
CEO
|
411,667
|
30
September 2028
|
|
Steve Nichols
|
PDMR
|
100,000
|
30
September 2028
|
|
Sharon Bryden
|
PDMR
|
100,000
|
30
September 2028
|
There remain a further unvested
611,667 share options previously granted under the 2022 Scheme.
Sub-ject to the recipients' continued employment with the Group and
the achievement of stretching profit targets for the current
financial year, the remaining unvested 2022 Scheme options would
vest in October 2025.
The notifications below, provided in
accordance with the requirements of the UK Market Abuse
Regula-tion, provide further details.
|
For
further information, please contact:
|
|
|
|
|
|
Time Finance plc
|
|
|
Ed Rimmer, Chief Executive
Officer
|
01225
474230
|
|
James Roberts, Chief Financial
Officer
|
01225
474230
|
|
|
|
|
Cavendish Capital Markets (NOMAD and
Broker)
|
0207
220 0500
|
|
Ben Jeynes / Dan Hodkinson (Corporate
Finance)
Michael Johnson / George Budd
/ Charlie Combe (Sales and ECM)
|
|
|
|
|
|
Walbrook PR
|
0207 933
8780
|
|
Nick
Rome / Joe Walker
|
Timefinance@walbrookpr.com
|
|
|
|
About Time
Finance:
Time Finance's purpose is to help UK
businesses thrive and survive through the provision of flexible
funding facilities. It offers a multi-product range for SMEs
concentrating on Asset, Loan and Invoice Finance. While focussed on
being an 'own-book' lender, the Group does retain the ability to
broke-on deals where appro-priate, enabling it to optimize business
levels through market and economic cycles. More
information is available on the Company website:
www.timefinance.com.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Ed
Rimmer
2. Steve
Nichols
3. Sharon
Brydon
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. Chief Executive
Officer
2. PDMR
3. PDMR
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Time Finance plc
|
|
b)
|
LEI
|
213800VG3QJGBP2MKR86
|
|
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
ISIN: GB00BCDBXK43
|
|
b)
|
Nature of the transaction
|
Vesting of awards under
2022 Unapproved Share Option Scheme
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
3. Nil
|
1.
411,667
2.
100,000
3.
100,000
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A Single transactions
|
|
e)
|
Date of the transaction
|
3 October 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
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END
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