TIME.L

Time Finance
Time Finance PLC - Vesting of Option Awards
4th October 2024, 06:00
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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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