Change of Name to Time Finance plc

RNS Number : 6803H

1PM PLC

07 December 2020

 

7 December 2020

1pm plc

(the "Company")

CHANGE OF COMPANY NAME TO TIME FINANCE PLC

GROUP-WIDE CORPORATE REBRAND

Unified brand will deliver a comprehensive financing solution to UK SME businesses

1pm plc, the AIM listed independent specialist finance provider to UK SME businesses is pleased to announce that the Company's name is changing to Time Finance plc with immediate effect. All subsidiary businesses within the 1pm Group will hereafter form part of the Time Finance brand. A resolution giving the Directors authority to change the Company's name was approved by shareholders at the Company's AGM held on 6 November 2019. The change of Company name has been formally registered at Companies House and a new certificate issued.

With effect from Tuesday 8 December 2020, trading in the Company's ordinary shares on AIM will commence under the new name and the new ticker will be TIME. The Company's ISIN (GB00BCDBXK43) and SEDOL remain unchanged. Shareholders should note that their shareholdings will be unaffected by the change of name and existing share certificates should be retained as no new share certificates will be issued. The Company's website will change to www.timefinance.com with effect from 8.00am today and all information pursuant to AIM Rule 26 will be available at this address.   

The rebranding follows the recent completion of the "buy and build" phase of the Group's strategic expansion which has resulted in it being able to offer a comprehensive portfolio of financing solutions tailored for the UK SME market through its enhanced lending and broking operations. The Company is now simplifying its operating structure into a single nationally recognised, market-facing product offering under the new name. 

Ian Smith, Chief Executive Officer, commented:

"The underlying strength of our market position, product offering, business model and robust operating structures have proven resilient, relevant and effective during the continuing economic and trading challenges presented by the Covid-19 pandemic. The rebranding of the business is designed to further consolidate and strengthen our offering, integrating and unifying 1pm (UK) Ltd, trading as Onepm Finance, Academy Leasing; Bradgate Business Finance; Intelligent Loans; Positive Cashflow Finance and Gener8 Finance under one consistent brand name and identity to deliver a more comprehensive solution to UK SME businesses."

For further information, please contact:
Time Finance plc
Ian Smith, Chief Executive Officer	07768 394162
James Roberts, Chief Financial Officer	01225 474230
Cenkos Securities plc (NOMAD)
Max Hartley / Ben Jeynes (Nomad) Julian Morse (Sales)	0207 397 8900
Walbrook PR	0207 933 8780
Paul Vann	07768 807631
	[e-mail]

About Time Finance plc

Time Finance's strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses and arranging vehicle and property-backed finance for consumers. The multi-product range for SMEs includes asset, vehicle, loan and invoice finance facilities. The Group operates a "hybrid" lending and broking model enabling it to optimize business levels through market and economic cycles.

The Group's vehicle finance brokerage in Birkenhead, Merseyside, which provides used vehicle finance to consumers, will form part of Time Finance, but will continue to trade as Car Finance 2U.

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

 

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