Exercise of Warrants

RNS Number : 0734W

1PM PLC

24 January 2012

 



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 88,095,237 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.  Following this exercise the Company confirms there are 63,598,402 warrants outstanding.

The following directors have exercised their warrants:

	Warrants Exercised	Revised Total Holding	% of Enlarged Share Capital	Warrants Remaining
Ron Russell	85,714,285	968,323,335	28.03%	0

Application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on 27 January 2012.

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 3,368,714,008 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
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 business critical.  1pm typically lends between £1,000 - £40,000 for between 12 and 60 months.

 

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