3 Oct 2014 07:00
PRIVATE & COMMERCIAL FINANCE GROUP PLC
CONVERSION OF LOAN NOTES
Private & Commercial Finance Group plc ("PCFG" or the "Company") announces that the Company has received conversion notices for an aggregate of 7,653 £1 nominal 6% Convertible Unsecured Loan Notes 2016 ("2016 CULS"). The 2016 CULS have a conversion price of 8.5 pence per share and therefore the above conversion will result in the issue of 90,033 new ordinary shares of 5p each (the "New Shares").
Application has been made for the New Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 9 October 2014.
Following the admission of the New Shares to trading on AIM, there will be 53,113,487 ordinary shares of 5p and 9,967,501 2016 CULS in issue.
The above figure of 53,113,487 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's DTR rules.
Enquiries:
Private & Commercial Finance Group plc | 020 7222 2426 |
Robert Murray, Company Secretary |
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Panmure Gordon (UK) Limited | 020 7886 2500 |
Fred Walsh/Peter Steel/Atholl Tweedie |
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Tavistock Communications 020 7920 3150
Chris Munden/Niall Walsh/Lucia Caprani
Westhouse Securities Limited 020 7601 6100
Nick Ellis/Darren Vickers/Henry Willcocks
About Private & Commercial Finance Group plc
Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted finance house which has two main operating 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 highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers and suppliers.