31 Jan 2011 07:00
1PM PLC
(AIM: OPM)
Exercise of Warrants
1pm plc ("1pm" or "the Company"), the specialist provider of lease asset finance to the SME sector, announces that it has received valid subscriptions to exercise warrants to subscribe for 18,571,425 new ordinary shares of 0.06818 pence each ("the New Ordinary Shares"). The warrants were issued during the March 2010 fundraising. The warrants allow for exercise at 0.07 pence per share and are valid from two years from the date of issue, 17 March 2010. Following this exercise the Company confirms there are 220,952,377 warrants outstanding.
The following directors have exercised their warrants:
Warrants Exercised | Revised Total Holding | % of Enlarged Share Capital | Warrants Remaining | |
Maria Hampton | 416,666 | 4,416,666 | 0.14% | 0 |
Helen Walker | 416,666 | 10,416,666 | 0.32% | 0 |
Application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on 1 February 2011.
In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following admission of the New Ordinary Shares its issued share capital will consist of 3,211,360,033 Ordinary Shares. The Company does not hold any shares in treasury. Shareholders may use this figure 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 FSA's Disclosure and Transparency Rules
Contacts: | |
1pm plc | www.1pm.co.uk |
Mike Johnson, Chairman | +44 (0) 844 967 0944 |
Maria Hampton, Managing Director | +44 (0) 844 967 0944 |
WH Ireland Limited | www.wh-ireland.co.uk |
Mike Coe / Marc Davies | +44 (0) 117 945 3470 |
About 1pm:
1pm plc is an established small ticket leasing company focused on providing SMEs with an accessible funding pool. Customers must have clear credit histories and an ability to pay their commitments. Assets leased are mission critical and all of 1pm's lease brokers are underwritten, as are its suppliers. 1pm lends £1,000 - £30,000 between 12 and 60 months.