27 Mar 2019 07:00
27 March 2019
PCF Group plc
("PCF" or the "Company")
Exercise of Options and Issue of Equity
PCF, the AIM-listed specialist bank, has issued and allotted 195,000 new ordinary shares of 5p each in the Company ("New Ordinary Shares") following the exercise of employee share options awarded under the Company's approved share option plan.
Accordingly, an application has been made for the 195,000 New Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will occur at 8:00 a.m. on 29 March 2019. The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.
Following Admission, the Company's enlarged issued share capital will comprise 250,180,934 ordinary shares with one voting right per share. No shares are held in Treasury. The total number of voting rights in the Company is therefore 250,180,934.
This figure of 250,180,934 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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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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 |
| Tel: +44 (0) 20 7886 2500 |
Stockdale Securities Robert Finlay / Richard Johnson - Corporate Finance Henry Willcocks - Corporate Broking |
| Tel: +44 (0) 20 7601 6100 |
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-listed parent of specialist bank, PCF Bank Limited. Since becoming a bank in 2016, the Group has the capability to increase its lending portfolio significantly, with an initial portfolio target of £350 million, growing to £750 million by September 2022. The Group will retain its focus on portfolio quality, lending increasingly to the prime segment of its existing finance markets. The Group has also recently diversified its lending products and asset classes through acquisition and by setting up new organic operations.
PCF Bank currently offers retail savings products for individuals and then deploys those funds through its four lending divisions:
• Business Finance which provides finance for vehicles, plant and equipment to SMEs;
• Consumer Finance which provides finance for motor vehicles to consumers;
• Azule Limited which provides finance to the broadcast and media industry; and
• Bridging Property Finance which provides loans to companies and sole traders investing in residential property
The Group has a track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technology 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