2 Jul 2018 09:03
2 July 2018
PCF Group plc
("PCF", the "Company" or the "Group")
Holdings in Company
Notification of transactions of Persons Closely Associated with PDMR
PCF has been notified today that Bermuda Commercial Bank Limited ("BCB") transferred on 28 June 2018 94,548,324 ordinary shares of five pence each in the issued share capital of the Company ("Shares"), representing approximately 44.6 per cent. of the issued share capital of the Company, to BCB's sole parent company, Somers Limited ("Somers" and, together with BCB and any other subsidiary undertaking, the "Somers Group"), at a price of 31 pence per Share.
As a result, BCB's and Somers' direct interests in Shares are as follows (representing no change to the Somers Group's aggregate shareholding):
Number of Shares % of Shares
BCB (direct interests) 21,010,723 9.90%
Somers (direct interests) 118,385,824 55.78%
Total Somers Group 139,396,547 65.68%
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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 | Somers Limited ("Somers") | ||||
2 | Reason for the notification | |||||
a) | Position/status | Person Closely Associated with David Morgan, Non-Executive Director of PCF Group plc | ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PCF Group plc | ||||
b) | LEI | 213800UDT5QE28AFU288 | ||||
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 | Purchase of Ordinary Shares from Bermuda Commercial Bank Limited, wholly owned subsidiary of Somers | ||||
d) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 28 June 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Names | Bermuda Commercial Bank Limited ("BCB") | ||||
2 | Reason for the notification | |||||
a) | Position/status | Person Closely Associated with David Morgan, Non-Executive Director of PCF Group plc | ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PCF Group plc | ||||
b) | LEI | 213800UDT5QE28AFU288 | ||||
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 | Sale of Ordinary Shares to Somers Limited, sole parent company of BCB | ||||
d) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 28 June 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
Name of authorised official of issuer responsible for making notification:
Robert Murray
Company Secretary to PCF Group plc
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For further information, please contact:
PCF Group plc 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 / Simon Hudson / Edward Lee
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| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Atholl Tweedie - 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 PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. With the advent of a banking operation, the Group now has the capability to increase its lending portfolio significantly, with target portfolio sizes of £350 million in 2020 and £750 million in 2022. The Group will retain its focus on portfolio quality and has the capability to lend increasingly to prime segments of its existing finance markets. The Group will also seek to diversify its lending products and asset classes through acquisition.
PCF Bank currently offers retail savings products for individuals and then deploys those funds through its two lending 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 track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technologically advanced platform, the Bank provides both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.
For media enquiries please contact media@pcf.bank