Exercise of Warrants

RNS Number : 2889A

1PM PLC

31 January 2011

 



1PM PLC

(AIM: OPM)

Exercise of Warrants

1pm plc ("1pm" or "the Company"), the specialist provider of lease asset finance to the SME sector, announces that it has received valid subscriptions to exercise warrants to subscribe for 18,571,425 new ordinary shares of 0.06818 pence each ("the New Ordinary Shares").  The warrants were issued during the March 2010 fundraising.  The warrants allow for exercise at 0.07 pence per share and are valid from two years from the date of issue, 17 March 2010.  Following this exercise the Company confirms there are 220,952,377 warrants outstanding.

The following directors have exercised their warrants:

	Warrants Exercised	Revised Total Holding	% of Enlarged Share Capital	Warrants Remaining
Maria Hampton	416,666	4,416,666	0.14%	0
Helen Walker	416,666	10,416,666	0.32%	0

Application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on 1 February 2011.

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following admission of the New Ordinary Shares its issued share capital will consist of 3,211,360,033 Ordinary Shares.  The Company does not hold any shares in treasury.  Shareholders may use this figure 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 Company under the FSA's Disclosure and Transparency Rules

Contacts:
1pm plc	www.1pm.co.uk
Mike Johnson, Chairman	[phone]
Maria Hampton, Managing Director	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
Mike Coe / Marc Davies	[phone]

About 1pm:

1pm plc is an established small ticket leasing company focused on providing SMEs with an accessible funding pool.  Customers must have clear credit histories and an ability to pay their commitments.  Assets leased are mission critical and all of 1pm's lease brokers are underwritten, as are its suppliers.   1pm lends £1,000 - £30,000 between 12 and 60 months.

 

END

 

 

RDSGMGZMDRVGMZM