Private & Commercial Fin Group Plc Additional Listing and PDMR Dealings (7764L)

TIDMPCF TIDMTTM

RNS Number : 7764L

Private & Commercial Fin Group Plc

05 October 2016

Private & Commercial Finance Group plc

("PCFG" or the "Company")

Conversion of Loan Notes and PDMR Dealings

Private & Commercial Finance Group plc ("PCFG" or the "Company") announces that the Company has received conversion notices for an aggregate of 934,734 GBP1 nominal 6% Convertible Unsecured Loan Notes 2016 ("2016 CULS"). The 2016 CULS have a conversion price of 8.5 pence per share and therefore the above conversion will result in the issue of 10,996,859 new ordinary shares of 5p each in the Company (the "New Shares").

Application has been made for the New Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 10 October 2016.

Following the admission of the New Shares to trading on AIM, there will be 170,124,102 ordinary shares of 5p each ("Ordinary Shares").

The following directors of the Company held 2016 CULS and, as a result of exercising their option to convert them into Ordinary Shares, have increased their shareholdings in the Company as follows:

 
 Director          2016      Existing       New Shares      Resultant         % of 
                   CULS       holding         issued          holding        issued 
                            of Ordinary    on conversion    of Ordinary       share 
                              Shares          of 2016         Shares        capital, 
                                               CULS                        as enlarged 
                                                                             by the 
                                                                           New Shares 
---------------  -------  -------------  ---------------  -------------  ------------- 
 David Anthony    20,075     936,275         236,176        1,172,451         0.7% 
---------------  -------  -------------  ---------------  -------------  ------------- 
 Scott Maybury    10,000    1,600,006        117,647        1,717,653         1.0% 
---------------  -------  -------------  ---------------  -------------  ------------- 
 David Morgan     10,000       Nil           117,647         117,647          0.1% 
---------------  -------  -------------  ---------------  -------------  ------------- 
 

The above figure of 170,124,102 ordinary shares of 5p each may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's DTR rules.

The remaining 21,597 of GBP1 nominal 2016 CULS matured on 30(th) September 2016 and will be redeemed to their respective loan note holders. The 2016 CULS trading line was cancelled at close of business on 30 September 2016 and the Company has notified the FCA to remove the 2016 CULS line from the Official List.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them.

 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------- 
 a)   Names                     David Anthony - Chairman 
                                 Scott Maybury - Chief Executive 
                                 David Morgan - Non-executive 
                                 Director 
---  ------------------------  ------------------------------------- 
 2    Reason for the notification 
---  --------------------------------------------------------------- 
 a)   Position/status           See 1(a) above for positions 
                                 - all classified as PDMRs of 
                                 PCFG 
---  ------------------------  ------------------------------------- 
 b)   Initial notification      Initial Notification 
       /Amendment 
---  ------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------- 
 a)   Name                      Private & Commercial Finance 
                                 Group plc 
---  ------------------------  ------------------------------------- 
 b)   LEI 
---  ------------------------  ------------------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  --------------------------------------------------------------- 
 a)   Description of            Ordinary shares of 5 pence each 
       the financial 
       instrument, type 
       of instrument 
---  ------------------------  ------------------------------------- 
 b)   Identification            GB0004189378 
       code 
---  ------------------------  ------------------------------------- 
 c)   Nature of the             In each case, the issue of Ordinary 
       transaction               Shares upon conversion of GBP1 
                                 nominal 6% Convertible Unsecured 
                                 Loan Notes 2016 
---  ------------------------  ------------------------------------- 
 d)   Price(s) and              Price - conversion price of 
       volume(s)                 8.5 pence per Ordinary Share 
                                 Volume(s) 
                                 David Anthony - 236,176 Ordinary 
                                 Shares upon conversion of GBP20,075 
                                 2016 CULS 
                                 Scott Maybury - 117,647 Ordinary 
                                 Shares upon conversion of GBP10,000 
                                 2016 CULS 
                                 David Morgan - 117,647 Ordinary 
                                 Shares upon conversion of GBP10,000 
                                 2016 CULS 
---  ------------------------  ------------------------------------- 
 d)   Aggregated information     n/a 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ------------------------------------- 
 e)   Date of the transaction   04 October 2016 
---  ------------------------  ------------------------------------- 
 f)   Place of the              Outside a trading venue 
       transaction 
---  ------------------------  ------------------------------------- 
 

Name of authorised official of issuer responsible for making notification:

Robert Murray

Company Secretary to Private & Commercial Finance Group plc

For further information, please contact:

 
 Private & Commercial Finance      Tel: [phone] 
  Group 
  Scott Maybury, Chief Executive 
  Robert Murray, Managing 
  Director 
  David Bull, Finance Director 
 Tavistock Communications          Tel: [phone] 
  Jos Simson / Niall Walsh 
 Panmure Gordon (UK) Limited       Tel: [phone] 
  Adam James / Peter Steel 
  / Atholl Tweedie 
 Stockdale Securities              Tel: [phone] 
  Henry Willcocks 
 

About Private & Commercial Finance Group plc

Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted finance house which has two main operating divisions:

   --     Consumer Finance which provides finance for motor vehicles to consumers; and 
   --     Business Finance which provides finance for vehicles, plant and equipment to SMEs. 

The Group has a highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers and suppliers.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 05, 2016 07:21 ET (11:21 GMT)