29 Mar 2018 08:56
29 March 2018
PCF Group plc
("PCFG", the "Company" or the "Group")
Scrip Dividend Elections
Issue of Equity
The Company announces that, pursuant to its Scrip Dividend Scheme, it has received elections to receive new ordinary shares in lieu of cash in respect of the final dividend payment due on 6th April 2018. Election notices have been received from the holders of 1,640,492 ordinary shares of 5p each in the Company ("Ordinary Shares"), in aggregate, representing approximately 0.77% of the Ordinary Shares in issue on 16th March 2018. Accordingly, 9,747 new Ordinary Shares ("New Shares") will be issued in satisfaction of such elections at an equivalent price of 31.96p per share.
Application has been made for the New Shares to be admitted to trading on AIM and it is expected that admission will take place at 8.00 a.m. on 5th April 2018. The New Shares will rank pari passu with the existing Ordinary Shares.
Following admission of the New Shares to trading on AIM, the Company will have 212,229,525 Ordinary Shares in issue, none of which are held in treasury.
The above figure of 212,229,525 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 in their interest in, the share capital of the Company under the FCA's Disclosure, Guidance 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 / Andrew Dunn
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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