16 Jun 2017 07:01
16 June 2017
Private & Commercial Finance Group plc
("PCFG", the "Company" or the "Group")
Directorate Change
PCFG, the AIM-quoted specialist bank, announces that Andrew Brook is stepping down today as a non-executive director of the Company, upon the appointment of Ms Christine Higgins also announced today. Mr Brook has been a non-executive director since December 2015.
Mr Brook, the Chairman of Bermuda Commercial Bank's Audit Committee, has provided invaluable guidance on governance, audit and risk as the Group has readied itself to become a bank. The Board would like to thank Andrew for his contribution to the Company during this period.
Tim Franklin, Chairman, commented: "Andrew has been an invaluable link between PCFG and our major shareholder, Bermuda Commercial Bank. He has been an excellent board member and has selflessly agreed to step aside to enable us to recruit a fully independent non-executive director.
I thank him and wish him well in the future."
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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 - Corporate Finance Charles Leigh-Pemberton - Corporate Broking
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| Tel: +44 (0) 20 7886 2500 |
Stockdale Securities Robert Finlay / Richard Johnson - Corporate Finance Henry Willcocks - Corporate Broking
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| Tel: +44 (0) 20 7601 6100 |
About Private & Commercial Finance Group plc (www.pcfg.co.uk)
Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted specialist bank 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.