6 Oct 2016 08:35
Private & Commercial Finance Group plc
("PCFG" or the "Company")
Conversion of Loan Notes and PDMR Dealings - correction
The announcement released by the Company on 05 October 2016 entitled "Conversion of Loan Notes and PDMR Dealings" stated that David Morgan, a Non-executive Director and PDMR of PCFG, held 10,000 2016 CULS which, on conversion, resulted in the issue of 117,647 New Shares to Mr Morgan.
The announcement should have stated that Mr Morgan held 30,000 2016 CULS which, on conversion, resulted in the issue of 352,941 New Shares, representing his entire interest (or 0.2%) of the Company's issued share capital. All other details disclosed in the previous announcement are unchanged.
The amended notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the issue of the New Shares to Mr Morgan.
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them.
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | David Morgan - Non-executive Director |
2
| Reason for the notification | |
a)
| Position/status
| See 1(a) above for position - classified as a PDMR of PCFG |
b)
| Initial notification /Amendment
| Amendment |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Private & Commercial Finance Group plc
|
b)
| LEI | |
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
| Ordinary shares of 5 pence each ("Ordinary Shares") |
b) | Identification code
| GB0004189378 |
c)
| Nature of the transaction
| In each case, the issue of Ordinary Shares upon conversion of £1 nominal 6% Convertible Unsecured Loan Notes 2016 ("2016 CULS")
|
d)
| Price(s) and volume(s) | Price - conversion price of 8.5 pence per Ordinary Share Volume(s) 352,941 Ordinary Shares upon conversion of 30,000 2016 CULS
|
d)
| Aggregated information - Aggregated volume - Price | n/a
|
e)
| Date of the transaction | 04 October 2016 |
f)
| Place of the transaction | Outside a trading venue |
Name of authorised official of issuer responsible for making notification:
Robert Murray
Company Secretary to Private & Commercial Finance Group plc
Capitalised terms in this announcement have the same meaning as defined in the Company's 05 October 2016 announcement, unless the context requires otherwise.
For further information, please contact:
Private & Commercial Finance Group Scott Maybury, Chief Executive Robert Murray, Managing Director David Bull, Finance Director
| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Jos Simson / Niall Walsh
| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Adam James / Peter Steel / Atholl Tweedie
| Tel: +44 (0) 20 7886 2500 |
Stockdale Securities Henry Willcocks
| Tel: +44 (0) 20 7601 6100 |
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.