Time Finance Unapproved Share Option Scheme

Time Finance plc
[shareaholic app="share_buttons" id_name="post_below_content"]

Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, announces that following the achievement of share price performance criteria in relation to the Company’s Unapproved Share Option Scheme a total of 2,138,500 previously awarded nil cost options over ordinary shares of 10 pence each in the capital of the Company have today vested. The terms of the Scheme were previously announced by the Group on 29 October 2020.

The Vested Options are all held by the below Directors/PDMRs of the Company and may be exercised at any time prior to an expiry date of 21 May 2022 being 12 months from today’s vesting date.

 PositionNumber of Vested Options
James RobertsCFO 864,500
Jennifer BodeyPDMR 217,000
Lorraine NeylandPDMR 217,000
Holly MapstonePDMR 168,000
Alun WinterPDMR 168,000
Phil CheshamPDMR 168,000
Tansy CunninghamPDMR 168,000
David JonesPDMR 168,000

A further 916,500 share options have been granted under the Scheme but remain unvested due to the time-based element of their criteria. Subject to continued employment this would see a third vesting in October 2021, a further third in October 2022 and a final third in October 2023 proportionate to the allocation of those that have vested today.

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.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Twitter
LinkedIn
Facebook
Email
Reddit
Telegram
WhatsApp
Pocket
Find more news, interviews, share price & company profile here for:
Time Finance plc (LON:TIME) reports strong trading momentum in early FY25, forecasting revenues of at least £35.1m and profit before tax of £7.2m.
Discover top-performing stocks across health, energy, finance, and telecom with insights from leading analysts to make informed investment decisions.
Join Ed Rimmer, CEO of Time Finance PLC, as he presents the company's Q1 2024 financial achievements, growth strategy, and SME funding focus.
Time Finance plc exhibits strong growth with a 40% profit increase in FY24, driven by strategic shifts in secured asset lending and invoice financing.
Time Finance plc boosts its invoice finance funding facility with NatWest to £65M, fueling UK SME growth and reinforcing strong financial performance.
Time Finance plc (LON:TIME) renews and increases its invoice finance funding facility with NatWest to £65m to support UK SME lending and growth.

Search

Search