Directorate Change and Trading Update

RNS Number : 9904G
1PM PLC
26 November 2015
 

 

26 November 2015

 

 

 

1pm plc

("1pm" or "the Company")

 

 Directorate Change and Trading Update

 

 

1pm plc (AIM: OPM), the AIM listed independent specialist provider of finance facilities to the SME sector, announces the following directorate changes. With effect from 1 February 2016, Ian Smith, currently Chairman, will become Group CEO and John Newman, currently a non-executive director, will be appointed Chairman. These changes have arisen from a recent review undertaken by the non-executive directors of the Group's management and operating structure following the acquisition of Academy Leasing Limited ("Academy") by 1pm plc in August 2015.

 

Trading in the year to date at 1pm (UK) Limited and at Academy since acquisition has been in accordance with management expectations. The Company expects to make a more detailed trading update for the six month period ending on 30 November 2015 in mid-December.

 

John Newman, Non-executive director, commented:

"The Board, having considered the review by the non-executives, has unanimously agreed that it is important for the Group to have clear executive leadership from someone who can focus on corporate strategy and the further development of the Group. We believe that Ian, having successfully overseen the acquisition of Academy, is ideally placed to undertake this role."

 

 

 

For further information, please contact:




1pm plc


Ian Smith, Chairman

0844 967 0944

John Newman, Non-executive Director

0844 967 0944



WH Ireland (NOMAD)


Mike Coe / Ed Allsopp

0117 945 3470



Walbrook Public Relations

0117 985 8989

Paul Vann

07768 807631


paul.vann@walbrookpr.com

 

About 1pm:

The Company was admitted to AIM in August 2006.

1pm plc is an established independent finance company focused on providing SMEs with accessible funding to add value to their businesses. All customers must have good credit histories and proven ability to repay their finance commitments.

1pm currently provides asset finance from £1,000 to £50,000 for a period of between 12 and 60 months and £1,000 to £50,000 for business loans (repaid over 3-36 months).

Mission Statement - 'Helping the UK economy grow by providing finance to businesses'

More information is available on the Company website www.1pm.co.uk

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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