8 Dec 2016 07:00
8 December 2016
Private & Commercial Finance Group plc
("PCFG", the "Company" or the "Group")
Directorate Change
PCFG, the AIM quoted finance house, announces that following the announcement today of the preliminary results for the Group, David Anthony is stepping down as Non-Executive Chairman and as a director of the Company. Mr Anthony has been a Non-Executive Director of PCFG since July 2011 and Chairman since September 2011.
Mr Anthony has been integral to the success of the Group, which is reflected in the Preliminary results for the period to 30 September 2016 announced this morning. He meticulously oversaw the year-on-year strengthening of the Group's balance sheet and growth in profitability following the 2008 global financial crisis. The Board would like to place on record its appreciation of the contribution David has made to the Group and we wish him well in the future.
Mr Anthony will be succeeded by Mr Tim Franklin as Chairman of the Board.
Scott Maybury, CEO, commented: "I would like to personally thank David for his immensely valuable contribution over many years. I am extremely grateful for his support in guiding the Group to the successful business we see today and I look forward to working with Tim as we embark on the next stage of the Group's strategy."
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For further information, please contact:
Private & Commercial Finance Group Scott Maybury, Chief Executive Officer Robert Murray, Managing Director David Bull, Finance Director
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| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Jos Simson / Niall Walsh
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| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Atholl Tweedie / Adam James / Peter Steel - Corporate Finance Charles Leigh-Pemberton - Corporate Broking
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| Tel: +44 (0) 20 7886 2500 |
About Private & Commercial Finance Group plc (www.pcfg.co.uk)
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.