Time Finance Regulatory News (TIME)

3 October 2023

                                 

Time Finance plc

("Time Finance", the "Group" or the "Company")

 

Unapproved Share Option Scheme - Vesting of Awards

 

Director/PDMR Shareholding

 

Time Finance plc, the AIM listed independent specialist finance provider, announces the vesting of an aggregate of 790,166 historically awarded share options following achievement of time-based performance criteria in relation to the Company's 2020 Unapproved Share Option Scheme (the "2020 Scheme") and the achievement of profit-based performance criteria in relation to the Company's 2022 Unapproved Share Option Scheme (the "2022 Scheme").

 

The terms of the 2020 Scheme and 2022 Scheme were previously announced by the Group on 29 October 2020 and 22 July 2022 respectively. It remains the Board's strong intention that existing ordinary shares held by the Company's Employee Benefit Trust will be utilised to meet any future exercise of these vested options and also of any further 2022 Scheme options that could vest in the future. The vested options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to the exercise expiry date.

 

 

The 2020 Scheme is now complete with no further options under the scheme remaining unvested.

 

There remain a further unvested 1,223,333 share options previously granted under the 2022 Scheme. Subject to the recipients' continued employment with the Group and the achievement of stretching profit targets for the next two financial years, the remaining currently unvested 2022 Scheme options would vest in equal tranches in October 2024 and October 2025.

 

The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

 

 

 

For further information, please contact:

 

Time Finance plc

Ed Rimmer, Chief Executive Officer                                                                                     01225 474230

James Roberts, Chief Financial Officer                                                                                01225 474230

 

Cavendish Securities plc (NOMAD and Broker)

Ben Jeynes / Charlie Combe (Corporate Finance)                              0207 220 0500

Michael Johnson / George Budd (Sales)

 

Walbrook PR Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 0207 933 8780

Paul Vann / Joe Walker                                                      07768 807631

TimeFinance@walbrookpr.com

 

About Time Finance:

 

Time Finance's purpose is to help UK businesses thrive and survive through the provision of flexible funding facilities. It offers a multi-product range for SMEs concentrating on asset, loan and invoice finance. While focussed on being an 'own-book' lender, the Group does retain the ability to broke-on deals where appropriate, enabling it to optimize business levels through market and economic cycles.

 

More information is available on the Company website: www.timefinance.com.